Central Bank of Kenya to liquidate bank after ‘severe violations’

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The Central Bank of Kenya has triggered the liquidation of a commercial lender after uncovering what it called “severe violations” of banking regulations.

The central bank appointed the Kenya Deposit Insurance Corporation (KDIC) to liquidate Charterhouse Bank’s assets. The action comes around a month after the CBK asked the KDIC to liquidate the remaining assets of Chase Bank, signalling the end of a multi-year resolution process.

A report into Charterhouse by managers appointed to take over

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