Chase Bank, which reopened on April 27, is in receivership and currently under the management of Kenya Commercial Bank. The investment bank has written to its clients informing them of inability to trade, as its funds are still held at Chase Bank, which was its custodian bank. Clients of Genghis Capital, a company closely associated with Chase Bank Group, are still unable to access their money five weeks since the reopening of the bank. We shall keep you posted,” Genghis told clients. All large depositors of Chase Bank, including Genghis are unable to access all their funds as withdrawals have been capped at Sh1 million.

Source: The Star June 07, 2016 03:45 UTC