Kenyan Wall Street | by Miriam Wangui
Five years after Chase Bank went into receivership, the Central Bank of Kenya (CBK) has today given the green light for the bank to be liquidated. The decision followed a recommendation from Chase Bank’s receiver-manager, the Kenya Deposit Insurance Corporation (KDIC), to liquidate the lender.
According to a statement released by the Central Bank of Kenya, KDIC in a report said, “considering the weak status of financial position, liquidation is the only feasible option”.
CBK agreed to the recommendation as it is…
