Chase bank in receivership is set to resume lending after central bank of Kenya approved the bank’s commencement of taking fixed deposits and gave the knod to resume lending. The decision on whether chase bank could accept term deposits has been awaiting regulatory approval from Kenya depositors’ insurance corporation (KDIC). By taking in new deposits at market rates, customers will have more lending opportunities while the generation of much needed income to support the full recovery of chase bank will gain momentum. The bank was placed under receivership by KDIC in April, with KCB bank Kenya limited appointed as the receiver manager. KCB bank recently announced that it was handing back management of the bank to KDIC to allow for the next phase of recapitalizing the bank and finding possible partners to acquire the bank

The bank has also started receiving fixed-term deposits, on the approval of the sector regulator. The consent is a m