Chase Bank Kenya – History, Collapse, Receivership, closed, Rafiki Micro finance, Net worth, loans, collateral, Directors, history, ownership, subsidiaries, branches

Chase Bank Kenya – History, Collapse, Receivership, CBK, Directors, closed, Rafiki Micro finance, Net worth, loans, collateral, ownership, subsidiaries, branches

Full name is Chase Bank Kenya Limited. It is licensed by the Central Bank of Kenya to operate as a commercial bank in Kenya.

Chase Bank Kenya Net Worth

Chase Bank Kenya is a large financial services provider in Kenya, with an estimated asset valuation of approximately Ksh. 93.6 Billion – US$0.92 billion as of September 2014.

As of November 2013, the bank’s shareholders’ equity was valued at about US$116.8 million (KES:10.5 billion). At the end of 2013, Chase Bank (Kenya), was ranked 12th in size by assets, out of 43 commercial banks operating in the country at that time.

Chase Bank Kenya CollapseChase Bank Kenya - History, Collapse, Receivership, CBK, Directors, closed, Rafiki Micro finance, Net worth, loans, collateral, ownership, subsidiaries, branches

in 2013, after several capital injections from investors, Chase Bank Kenya embarked on luring Kenyans and Corporates with easy to get loans to the extent that one would get a Ksh. 1 million loan with only a six months bank statement from another bank. No other collateral was necessary.


This led the bank to issue many unsecured loans and the rate of loan repayment default began to bite.

Chase Bank Kenya Began to collapse.

Chase Bank Kenya receivership / Statutory Management

A statement from the Central Bank says the Kenya Deposit Insurance Corporation (KDIC) has been appointed as a receiver manager for Chase Bank Kenya after it reported a Ksh. 792 million loss in the year 2015 financial results – coupled with revelations of unsound transactions.

According to CBK, Chase Bank Kenya was not able to meet its financial obligations on April 6, 2016.

Chase Bank Kenya Directors

These are the previous and current directors of Chase Bank Kenya.

  • Current and new Chairperson of the board—-Muthoni Kuria
  • Previous Chairman of the Board — Zafrullah Khan
  • Group Managing Director ——- Duncan Kabui
  • Chief Executive Officer, although not a member of the board of directors — Paul Njaga

Chase Bank stated that Khan and Kabui stepped aside following the publication of the 2015 financial statements which reveal a significant jump of its non-performing loans from Sh3 billion to Sh11 billion.

Chase Bank Kenya History

In 1995, several business people acquired a 60% stake in United Bank (Kenya), after paying approximately US$1.23 million (Kenya Shillings 95 million). At that time the bank’s headquarters were located in the western town of Kisumu, approximately 380 kilometres (240 mi), by road, northwest of Nairobi, Kenya’s capital and largest city.

Then, United Bank (Kenya) was in receivership and was under statutory administration by the Central Bank of Kenya, the country’s banking regulator. Its paid-up capital, then, was approximately US$970,000 and it had an asset base valued at approximately US$1.9 million.

In 1996, the bank opened for business under the new owners who rebranded to its present name. In 1997, a decision was made to relocate the bank’s only branch at the time, from Kisumu to Nairobi. Over the years, Chase Bank Kenya had progressively improved its bottom line by growing its customer base and increasing its profitability until it recently entered into mucky waters.

Chase Bank Kenya Ownership

  1. In March 2013, Amethis Finance, a development finance company based in Paris, France, invested US$10.5 million (KES:900 million) into the bank, thereby taking an equity position in Chase Bank (Kenya).
  2. In October 2013, a European Private Equity Fund, invested KSh1.5 billion into the bank, taking up an equity position into the institution.

As of April 2015, the shareholders in the stock of the bank is summarized in the table below
Stock Ownership In Chase Bank Kenya Limited

  1. Rinascimento Global Limited —————————————– 15.9%
  2. Shegas Limited ———————————————————–13.9%
  3. Balst Investment Holdings Limited ————————————-11.2%
  4. Amethis Finance of France———————————————-10.9%
  5. Festuca Investments Limited———————————————9.3%
  6. German Investment Corporation (DEG)——————————–6.6%
  7. Carlo Van Wageningen—————————————————-6.5%
  8. ESOP————————————————————————-4.3%
  9. Responsability investments / ResponsAbility Participations AG—3.4%
  10. Namaja Investments Limited———————————————-3.0%
  11. Other Local & International Investors———————————-15.0%
     Total   ——————————————————————-  100.00

Chase Bank Kenya Subsidiaries

RAFIKI Microfinance Bank Limited – 75% Shareholding
Chase Insurance Agency Limited – 100% Shareholding

Chase Bank Kenya BranchesChase Bank Kenya - History, Collapse, Receivership, CBK, Directors, closed, Rafiki Micro finance, Net worth, loans, collateral, ownership, subsidiaries, branches

As of August 2014, the bank maintains a network of branches at the following locations

Chase Bank Kenya Nairobi Branches

  1. City Centre Branch – Prudential Assurance Building, Wabera Street Nairobi
  2. Buru Buru Branch – Kenol Buru Buru, Mumias South Road, Nairobi
  3. Diamond Plaza Branch – Diamond Plaza, Parklands, Nairobi
  4. Donholm Branch – East Gate Shopping Mall, Nairobi
  5. Eastleigh Branch – Sunrise Shopping Mall, First Avenue, Eastleigh, Nairobi,
  6. Elite Banking Centre – 1st Floor, ABC Towers, Waiyaki Way, Nairobi
  7. Embakasi Branch – Ground Floor, Taj Shopping Mall, Outer Ring Road, Embakasi, Nairobi
  8. Hurlingham Branch – Ground Floor, Northern Wing, Landmark Plaza, Argwings Kodhek Road, Nairobi
  9. Ngara Branch – Peace Plaza, Ngara Road, Nairobi
  10. Parklands Branch – Ground Floor, Mediplaza, Third Avenue, Parklands, Nairobi
  11. Riverside Mews Branch – Riverside Mews, Riverside Drive, Nairobi
  12. Sameer Park Branch – Sameer Park, Mombasa Road, Nairobi
  13. Strathmore Branch – Strathmore Student Center, Madaraka Estate, Ole Sangale Road, Nairobi
  14. Upper Hill Branch – KMA Centre, Junction of Chyulu / Mara Road, Upper Hill, Nairobi
  15. Village Market Branch – 3rd Level, Village Market, Limuru Road, Gigiri, Nairobi
  16. Windsor Branch – Ridgeways Mall, Kiambu Road, Nairobi
  17. Ongata Rongai Branch – Masaai Mall, Rongai Road Nairobi
  18. Delta Branch – Delta Towers, Westlands Roundabout Nairobi
  19. Lunga Lunga Branch, next to Tuskys Lunga Lunga, Industrial Area Nairobi
  20. River Road Branch – Sundries Plaza, Ground floor, River Road Next to Sagret Hotel Nairobi
  21. Kilimani Branch – Adlife Plaza, Kilimani Nairobi
  22. Kasuku Express Branch – Kasuku Center, Kileleshwa Nairobi
  23. Karen Branch – Water Mark, Business Plaza, Karen Nairobi
  24. Lavington Branch – 3rd Floor, Lavington Green Mall, Lavington Nairobi
  25. Kimathi Branch – Ansh Plaza, Kimathi Street Nairobi
  26. Madaraka Express Branch – Along Langata Road Opp Getrudes at TOTAL Gas Station Nairobi

Chase Bank Kenya Mombasa Branches

  1. Bondeni Branch – Ground Floor, Suhufi Palace, Abdel Nasser Road, Mombasa
  2. Mombasa Branch – Ground Floor, Jubilee Building, Moi Avenue, Mombasa
  3. Nyali Branch – Nyali Plaza, Links Road, Mombasa
  4. Mtwapa Branch – Tuskys Mall, Mtwapa Mombasa
  5. Old Town Branch – Opposite Central Police Station Mombasa
  6. KPA Branch – KPA Mombasa
  7. Kilifi Express Branch – Kenol Kobil, Kilifi Road Kilifi

Chase Bank Kenya Upcountry branches

  1. Eldoret Branch – Utamaduni Building, Kenyatta Street, Eldoret
  2. Kisii Branch – Royal Towers, Hospital Road, Kisii
  3. Kisumu Branch – West Emporium, Oginga Odinga Street, Kisumu
  4. Kisumu Express – Naivas Mall, Jomo Kenyatta Road, Kisumu
  5. Malindi Branch – Links Road, Opposite Multi Grocers Limited, Malindi
  6. Nakuru Branch – Spikes Business Centre, Kenyatta Avenue, Nakuru
  7. Thika Branch – Nelleon Building, Kenyatta Avenue, Thika
  8. Machakos Branch – at Naivas House, along Mwatu wa Ngoma Rd., Machakos Town Machakos
  9. Garissa Branch – Lilac Plaza along Kismayu Road
  10. Narok Branch – Ol Talet Mall.Ground Floor, Opposite KCB Along Nairobi Kisii Highway Narok
  11. Kitale Branch – Nakumatt Mall, Mega Centre Kitale
  12. Kericho Branch – Ratan Plaza along Kenyatta Road Kericho

About Laban Thua Gachie 30968 Articles
I am a proud Kenyan. I have a Bachelors Degree in Communication and Media Technology from Maseno University. I am an Online Content Developer for and My passion is helping others realize their passions and dreams so that they can live a decent and fulfilling life.