Troubled Kenyan bank to reopen under new management

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Large commercial bank to manage troubled Chase Bank as it sets to reopen at the end of April

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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