Chase bank can’t trace half of mortgage borrowers as defaults peak

Chase Bank customers queue at the Eldoret branch after its reopening in 2016. The bank has been under receivership for two years now. [File, Standard]

Half of Chase Bank customers stopped paying their home loans when the bank was put under receivership in 2016, it has emerged.

According to data released by the National Treasury yesterday during a pitch to set up the Kenya Mortgage Refinance Company, out of the Sh7.5 billion worth of mortgage assets held by the lender, Sh4.5 billion was non-performing.