The High Court has ordered Chase Bank to refund one of its borrowers $47,000 (Sh6 million) being excess interest charged on a $2 million loan (Sh258 million) and property valuation charges.
Justice William Musyoka upheld a decision of a magistrate court to order the lender under receivership to return the sum to Nanda Properties Limited, which borrowed the loan 12 years ago and allegedly defaulted leading to a tussle.
