×
App Icon
The Standard e-Paper
Home To Bold Columnists
★★★★ - on Play Store
Download App

Agony of depositors as CBK closes Chase Bank over Sh16 billion loans

Chase Bank clients visits and finds the Bank un-operational after the financial institution was indefinitely closed countrywide, along Kimathi street on Thursday, April 7, 2016. [PHOTO:JONAH ONYANGO/STANDARD]

The multi-billion-shilling insider lending at the troubled Chase Bank left a trail of financial ruin across the country as thousands of account holders were blocked from accessing their money.

When the news of the bank being placed under receivership broke, desperate account holders – some of whom had skipped work or abandoned their businesses to salvage their deposits – were shocked to find that the bank was not operational.

Premium Article

Get Full Access for Ksh299/Week.

Uncover the stories others won't tell. Subscribe now for exclusive access.
Continue Reading  →
What you get
  • Unlimited access to all premium content
  • Ad-free browsing experience
  • Mobile-optimised reading
  • Weekly newsletters & digests
Pay via
M - PESA
VISA
Airtel Money
Secure Payments Kenya's most trusted newsroom since 1902
Support Independent Journalism

Stand With Bold Journalism.
Stand With The Standard.

Journalism can't be free because the truth demands investment. At The Standard, we invest time, courage and skills to bring you accurate, factual and impactful stories. Subscribe today and stand with us in the pursuit of credible journalism.

Pay via
M - PESA
VISA
Airtel Money
Secure Payment Kenya's most trusted newsroom since 1902