Central Bank of Kenya places third bank in receivership
Chase Bank under new management after resignation of chairman and managing director
The Central Bank of Kenya has placed Chase Bank under receivership, after it "was not able to meet its financial obligations", the bank said today (April 7).
It is the third bank since August 2015 to be placed under the management of the Kenya Deposit Insurance Corporation (KDIC), which will assume the "control and conduct of the affairs and business of the institution" until further notice.
The Chase Bank's board of directors has been "excluded", leaving the KDIC to report back to the central
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