Chase Bank eyes new business from youth to shake off receivership woes

Chase Bank, which was placed under receivership in April, is betting on new business from the youth and start-ups to fully recover.

The bank’s youth banking manager, Lonina Leteipan, said the lender expects to restore its vibrancy by supporting enterprise ideas.

“Youth banking has always been a core pillar for Chase Bank, and we are always keen to take part in initiatives that support the growth of young entrepreneurs,” said Mr Leteipan, adding that the bank was exploring ways of engaging with young businesses as part of its turnaround strategy.

“For 20 years now, Chase Bank has been at the epicentre of the entrepreneurial ecosystem, giving support to companies that have grown to become market leaders,” he added, speaking during the Young Entrepreneurs Dinner (YED) in Nairobi, which was co-sponsored by Chase Bank. YED is aimed at bringing together business leaders and young entrepreneurs to create opportunities for mentorship and future partnerships.

Leteipan said the bank’s strength rests on four pillars: the staff, whose average age is 26, which helps them connect with youthful customers and young businesses; innovation; partnerships; and the relatively young brand Chase Bank is in the industry.

Businessman Chris Kirubi also addressed the dinner, saying: “The Youth Entrepreneurship Dinner is an opportunity for our youth to progress. They deserve mentorship from more experienced individuals, which will influence and offer them a chance to identify and develop skills that will enable them to succeed as entrepreneurs.”

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