Chase Bank back, allowing access to services via online, mobile banking

Chase Bank Limited (In Receivership) has today resumed operations thanks to CBK and KCB. All 57 Chase Bank branches across the country will remain open during the Bank’s normal operating hours while Chase Bank’s (IR) alternative – online and mobile banking – channels will be available.

The resumption of operations at Chase Bank (IR) gives depositors a renewed sense of hope, two weeks after the CBK placed the bank under statutory management.

While assuring customers that their money was safe, Paul Russo the Receiver Manager appointed by KCB said that Chase Bank (IR) remained committed to its customers and was keen on retaining its clientele.

“We recognize the fact that our customers have been regrettably inconvenienced over the last two weeks. We thank them for their support and remain deeply committed to our customer service promise. Chase Bank’s (IR) unparalleled support to the small and medium sectors will continue unabated. We are cognizant of the central role SME’s play in the country’s economic growth and we are keen on living up to our promise as the ‘relationship bank'” said Mr. Russo.

Last week, The Kenya Deposit Insurance Corporation (KDIC) appointed KCB Bank Kenya as Chase Bank’s (IR) statutory manager.

The appointment gives KCB the mandate to undertake all roles and responsibilities of running the bank on behalf of KDIC, the receiver manager, as provided for under the Kenya Deposit Insurance Act 2012.

Mr. Russo added, “We would like to retain as many of our clients as possible. But as earlier announced, customers with a million shillings or less in deposits can access all or part of their money. The bank’s history of exceptional customer service has not changed despite the receivership. If anything, our commitment to our customers has redoubled as we look forward to growing with our customers.”

Joshua Oigara, KCB Group’s CEO said, “KCB Group is firmly behind Chase Bank’s (IR) recovery. CBK and KCB will ensure that Chase Bank (IR) will have adequate liquidity for its operations. Chase Bank (IR) built a strong brand based on strong customer relationships and a commitment to service excellence. We are determined to regain our clients’ trust.”