Governor right to pick KCB to manage Chase

The move by the Central Bank of Kenyan and Kenya Commercial Bank to fast track reopening of Chase Bank offers relief to some 167,290 customers.

The choice of KCB to manage the bank will go a long way to restore confidence in the banking sector. The bank came third among other bidders who were mostly international banks. But it was wise for CBK to pick a local bank with proven track record as this will ensure Chase Bank sets off on the right foot.

The closure of the bank sent shock waves among Kenyans coming soon after Imperial Bank suffered the same fate.

CBK also deserves to be commended for saving customers from rogue banks out to misuse their deposits for their selfish interests.