Kenya's Central bank seeks Chase Bank's buyer within six months
382 views · Published 1 April 2017 · 5:39 · Indexed 20 September 2026
Channel: CGTN Africa · 2017 · News & Politics
This time next week, Chase Bank will have been in receivership for a year. It's shock entry into receivership on April 7 2016 came just 24 hours after its Managing Director and Chairman stepped aside, amidst protests that all was well. This week, Kenya's Central Bank, and its receiver manager, the Kenya Deposit Insurance Corporation, have announced they're looking for a buyer to take over Chase's assets and liabilities, hopefully, "within the next six months." But, with Kenya having imposed rate caps on retail lending rates last September, and an election barely 4 months away, is Chase an attractive proposition?
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