Chase Bank customers urged to make loan payments

Customers who had taken loans with Chase Bank have been urged to continue making their payments.

According to the Kenya Deposit Insurance Corporation, several branches will be reopened to assist customers make their payments.

Already KDIC has opened an account at the Central Bank of Kenya that will receive the service payments on credit and loan repayments.

“A list of open branches will be circulated by KDIC. Cheques should be made to Chase Bank (IR) at the Central Bank Ac. No 10002913227- Chase Bank Kenya Limited (In Receivership),” KDIC said in a notice on its website.

Chase Bank was placed under receivership last week after a run on deposits left the bank facing liquidity challenges prompting the closure.

KDIC has also announced that it is working on sorting out incomplete transactions by customers.

The transactions will be treated as items in transit, with customers expected to make claims as separate credits to their accounts.

“Instructions that had not been finalized are treated as items in transit. Customers will make claims on these as separate credits to their accounts,” KDIC notes.

CBK governor Dr Patrick Njoroge has in the past said that talks have been initiated with shareholders to pump money into the bank to ensure it reopens at the earliest opportunity.