A section of traders affected by Chase Bank last week have welcomed the move by the Central Bank of Kenya (CBK) to re-open the bank.
Speaking on Wednesday, the excited traders breathed a sigh of relief after CBK Governor Patrick Njuguna announced on Wednesday that Chase bank will reopen its doors next week.
The bank had been put under receivership last week a move that created confusion and anxiety among depositors and employees of the bank.
“We are happy by the Central Bank announcement that Chase Bank will reopen next week,” said an excited Mercy Wanjiru, a student at a local college at Kiambu town.
Wanjiru said that she had deposited Sh45,000 as savings at the Chase bank.
“The news that Chase bank had been placed under receivership broke my heart knowing that I had lost my savings but I am that next week I will access my money,” she said.
Wanjiru just like other local and business who had been banking with Chase bank are a happy lot.
Jennifer Wambui, a Mitumba trader at Kiambu town said that the news that the bank will reopen and depositors have access to their money was good.
“It has been a frustrating week for many of us depositors, I could not imagine that I can lose my savings amounting to Sh150, 000,” said Wambui.
The traders while welcoming the reopening of the bank urged the government to ensure that banking laws are adhered to by all financial institutions.
“We have seen several cases of banks being put under receivership and it will be necessary for the government to ensure that all banks adhere to the existing laws to safeguards customer’s savings in financial institutions,” she added.
On Wednesday, Dr Njuguna said that all Chase bank branches will re-open next week.
He said that depositors will have access to withdrawals of not more than Sh1 million.
The CBK governor said that Chase bank will be put under the statutory management of Kenya Commercial Bank (KCB).
Governor Njoroge at the same time assured Kenyan investors that banking sector is stable and there was no need to panic.