Chase Bank receives Sh100m in new deposits

Kenya Deposit Insurance Corporation, the receiver managers said Chase Bank depositors’ withdrawals stood at Sh1.6 billion in three days of reopening. [PHOTO: FILE/STANDARD]

Troubled Chase Bank, which reopened a week ago received Sh100 million in new deposits within three days of reopening.

The statutory managers told a parliamentary inquiry into Kenya’s banking sector that they had set aside Sh5 billion expecting massive withdrawals. However, that did not happen because many of the big-money depositors said they were willing to leave their money in the bank and promised to continue depositing.