Chase Bank has reopened after KCB’s acquisition of majority stake at the mid-tier lender that was placed under receivership.This has left the chase bank depositors jovial as they can access their savings and carry out transaction.
On April 7, the bank was placed under the KDIC for having liquidity problems, after a series of panic withdrawals that was triggered by massive insider loans.
Chase said in a notice to their clients that they will have immediate access to deposits of up to Sh1 million.All 57 branches across the country will be accessible to all our customers allowing them to make deposits, withdrawals and similar transactions which can also be accessed through alternative channels.
CBK governor Patrick Njoroge had said 167,290 accounts, equivalent to 97 per cent of accounts or 6 per cent of total deposits, will have their funds available in full.