Chase Bank Depositors to Receive KSh0.5mn as liquidation Commence

CBK approves liquidation of Chase Bank Limited in receivership Kenya Deposit Insurance Corporation KDIC, is the liquidator

Depositors of Chase Bank (In Receivership) will receive a maximum of KSh500,000 each, Kenya Deposit Insurance Corporation (KDIC), the lender’s liquidator says.

“The depositors of Chase Bank, in liquidation, become the first beneficiaries to be paid the enhanced insured deposit amount of a maximum of Sh500,000,” it said Tuesday in a statement.

KDIC disclosed that more information will be released soon about the liquidation and payment of depositors process.

The bank was placed under receivership by the Central Bank of Kenya in April 2016.