Troubled Kenyan bank to reopen under new management
Chase Bank will be managed by Kenya Commercial Bank, which may go on to acquire majority stake
Chase Bank will reopen in the coming days under the management of Kenya Commercial Bank (KCB), which is also interested in acquiring a majority stake, according to the Central Bank of Kenya.
The central bank has placed three banks – Chase Bank, Dubai Bank and Imperial Bank – into receivership since June. Six executives of mid-sized lender Kenya National Bank were also sent on leave in March and a further investigation is pending.
Currently under the management of the Kenyan Deposit Insurance
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