Chase Bank’s receivership period has been extended. [Photo: Courtesy]
The High Court has ordered the Central Bank of Kenya to extend the receivership period for Chase Bank following an application by depositor.
The current receivership was due 7 next month but due to the application, it has been extended for a week pending hearing.
Last year, Chase Bank was out under receivership after running into financial difficulties. The Central Bank of Kenya however managed to re-open the Bank the same month.
Since the beginning of this year, CBK has been looking for a suitable investor to take a majority stake in the bank.
In April this year, CBK extended the receivership for six months to give them time to look for a suitable investor. The period was due on 7th next month.