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Kenya Commercial Bank (KCB) will reopen Chase Bank by next Wednesday and grant full access to nearly 168,000 accounts.
Kenya’s largest bank beat eight other suitors in the bailout plans for Chase Bank that was presented to the Central Bank of Kenya. KCB plans to acquire a majority stake in the troubled lender.
It could turn out to be a major test for KCB, considering the anxiety among the depositors, who have been unable to access their cash since Chase Bank went under two weeks ago.
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