Central Bank of Kenya governor, Patrick Njoroge stated that the institutions has already received five potential buyers interested in the purchase of the collapsed Chase Bank.
The CBK governor said the regulator considered reviving Chase Bank to be a much easier undertaking than in the case of Imperial Bank, which collapsed last October. He went on to say that in the case of Chase Bank assets could be identified and sold while there was also willingness by the shareholders and directors to move quickly and resolve the outstanding matters including completion of registration of collateral documents for the previously unsecured loans.
In the case of Imperial Bank however, there was outright fraud that needed to be dealt with.
The collapse of Chase Bank last Thursday, saw a ran that drained from it Sh8 billion in a single day. It later emerged that the bank had loaned Sh16.6 billion irregularly as the external auditor expressed inability to establish the state of the institution’s finances.
The drama surrounding the collapse of Chase Bank seems to have less of a negative impact on depositors in terms of surity of getting their money back when compared to it’s counterpart, Imperial Bank. Follow Story On Imperial Bank
