Zafrullah Khan and Duncan Kabui have stepped aside from Chase Bank’s positions of Chairman and Group managing Director respectively.
Muthoni Kuria has been named the board chair of Chase Bank, the bank announced on Wednesday.
“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,” read a statement in part, signed by Mrs Kuria.
“Mr Paul Njaga continues as the Chief Executive Officer. Mr Nyaga has been the CEO of Chase from December 2014.”
The bank further assured its customers and the public that their investments with the bank are safe.
Early this week, reports emerged that the bank was under the watch of Central Bank of Kenya over fraud, and pushed for the chairman and managing director to step aside.
Not long ago, Imperial Bank was placed under receivership by the CBK, after it emerged that the bank’s top officials engaged in financial fraud.