Chase Bank rebrands in August after take over
SEE ALSO :Equity, KCB battle in final roundOn Thursday, Kenya Commercial Bank (KCB) said it has completed its assignment as the Kenya Deposit Insurance Corporation (KDIC) appointed receiver manager in Chase Bank Ltd (In Receivership). Mr Bainbridge said the lender will take the majority of Chase Bank branches, IT infrastructure, offer employees new terms of service and carry a ‘substantial portion of the loan book’. As per the terms of the transaction, 50 per cent of the non-moratorium deposits will be available upon completion of the transaction through current and savings accounts. The remaining 50 per cent will be placed in interest earning term deposits to be accessed equally over a period of three years.