Nairobi News

NewsWhat's Hot

Chase Bank depositors reassured on payout

The Kenya Deposit Insurance Corporation (KDIC) has dispelled rumours on the fate of customers who had deposited money at Chase Bank which was put on receivership on Thursday.

The deposit insurance corporation clarified that so far no information has been given regarding when customers can start claiming their deposits but is working on the Chase Bank status.

Through its official Twitter handle, KDIC stated that all communication on the Chase Bank issue will come from the corporation.

“The public is advised to disregard information circulating on deposit claims at Chase Bank Branches. @CbkKenya,” read a tweet by Kdic.


Users on social media had on Friday started conversations that depositors of Chase Bank will starting next week be filing claim forms to receive up to Sh100, 000.

It is that information that prompted the deposit insurance corporation to clear the air promising customers of the bank that they would soon provide a way forward.

Since its formation, the corporation has in the past been appointed a receiver of several banks among them Dubai and Imperial banks where it processed payment of protected deposits of up to Sh100, 000.

After being placed under receivership on October 13 2015, Imperial Bank’s depositors were able to access their monies after two months through a partnership of the deposit insurance corporation, Diamond Trust Bank and Kenya Commercial Bank.

For Dubai Bank, the receiver liquidated the bank barely ten days after it was put on receivership and payout of depositors’ started through the deposit insurance corporation.