The Central Bank of Kenya (CBK) plans to seize and sell off assets of individuals linked to the collapse of troubled lender Chase Bank to cover a Sh19 billion deficit owed to customers as deposits.
CBK governor Patrick Njoroge and the Kenya Deposit Insurance Corporation (KDIC) chief executive officer, Mahmoud Mohamed, in a joint briefing Friday announced that Chase Bank customers will access 75 per cent of the Sh76 billion deposits locked in the troubled lender in staggered phases over a period of three years.
