Social media was abuzz on Wednesday April 6, driven by reports on Chase Bank chairman Mr Zafrullah Khan and group managing director Mr Duncan Kabui stepping aside over concerns surrounding the credibility of the bank’s financials.
However, in a quick rejoinder on tweeter, the bank reassured the general public and customers’ that their funds and investments are safe.
Chase bank has one branch in Nakuru.
The latest turn of events comes in the backdrop of a publication of the 2015 financial statements which forced Mr. Zafrullah Khan and Mr. Duncan Kabui to step aside from the positions of chairman and Group Managing Director respectively.
Banking sector regulator, CBK told reporters that the high non performing loans in the sector could have been as a result of weak lending policies laced with management failures and interests.
In the meantime, changes have been effected according to a tweet by chase bank.
"Our Chairman and the board would like to inform its customers, partners and the general public of the following change to the bank’s board. Mrs. Muthoni Kuria has been appointed as the Chair of Chase Bank’s board. Mrs. Kuria has served on the Board for over three years. Mr. Paul Njaga continues as the Chief Executive Officer. Mr. Njaga has been the CEO of Chase from December 2014."