Chase Bank Kenya Limited (CBK), Commonly Known As Chase Bank, Is A Commercial Bank In Kenya Licensed By The Central Bank Of Kenya, The Central Bank And The National Banking Regulatory Authority.
Chase Bank Is A Large Financial Services Provider In Kenya With An Estimated Asset Valuation Of Approximately US $1.428 Billion (142 Billion Kenyan Shillings) As Of December 2015. At That Time, Shareholders' Equity Was Valued At US $119.70 Million (11.90 Billion Kenyan Shillings).
History
In 1995, Several Businesspeople Acquired A 60% Stake In Union Bank (Kenya) After Paying Approximately US $1.23 Million (Kenyan Shillings 95 Million). At That Time, The Bank's Headquarters Was Located In Kisumu, A Western Town Northwest Of Nairobi, Kenya's Capital And Largest City, About 340 Kilometers (210 Miles) From The Road.
At That Time, Allied Bank (Kenya) Was In A State Of Takeover And Was Legally Managed By The Central Bank Of Kenya, The Country's Banking Regulator. At That Time, Its Paid-in Capital Was Approximately $970,000 And Its Asset Base Was Valued At Approximately $1.90 Million. In 1996, The Bank Opened Under A New Owner, Who Changed Its Name To Its Current Name. In 1997, It Was Decided To Move The Bank's Then Sole Branch From Kisumu To Nairobi. Over The Years, Chase Bank (Kenya) Has Gradually Improved Its Bottom Line By Expanding Its Customer Base And Improving Its Profitability.
Statutory Management
On April 7, 2016, The Central Bank Of Kenya Took Over Chase Bank, Becoming The Third Bank To Be Taken Over In 12 Months. This Was Mainly Due To Reporting Insider Loans, And Not Meeting The Statutory Bank Ratio, Chase Bank Reopened On April 27, 2016, With KCB Acting As The Takeover Manager.
In April 2016, The Bank Was Placed Under Statutory Management By The CBK Following The So-called "unsafe Financial Situation". After The Resignation Of Two Directors, Social Media Reported On The Liquidity Problems Facing The Company. The Report Showed That Its Profit In 2015 Fell From 2.30 Billion In 2014 To 742 Million Kenyan Shillings. The Statement Also Showed That Non-performing Loans Rose From 3 Billion Kenyan Shillings In 2014 To 11 Billion Kenyan Shillings In 2015.
In April 2016, Inspector General Of Police Joseph Boinnet Ordered The Arrest Of Executives Of Chase Bank To Answer Questions About The Bank's Mismanagement. After Two Weeks Of Closure, The Bank Reopened On April 27, 2016 Under The Management Of Commercial Bank Of Kenya.
Clearance
In April 2018, The Central Bank Of Mauritius Announced That The National Bank Of Mauritius Would Acquire Certain Assets And Match Liabilities From Chase Bank. The Deal Included 75% Of The Deposits, Bank Employees And Branches And Merged Its Operations With Its Kenyan Subsidiary SBM Kenya. The Remaining Assets And Liabilities Were Then Transferred To The Kenya Deposit Insurance Corporation For Liquidation.
Ownership
In March 2013, Paris, France-based Development Finance Company Amethis Finance Invested $10.50 Million (900 Million Kenyan Shillings) In The Bank, Thereby Acquiring An Equity Stake In Chase Bank (Kenya). In October 2013, European Private Equity Funds Invested 1.50 Billion Kenyan Shillings In The Bank, Taking An Equity Position In The Institution.
As Of April 2015, The Shareholders Of The Bank's Shares Are Summarized In The Following Table:
Member Companies
Subsidiaries
In Addition To Banking, Chase Bank Owns The Following Subsidiaries:
- RAFIKI Microfinance Bank Limited - 75% Equity - A Deposit-taking Microfinance Bank.
- Chase Insurance Agency Limited - 100% Equity - Insurance Agency Division Of The Business.
Branch
As Of April 2016, The Bank Has A Branch Network At The Following Locations:
Nairobi Branch
- Downtown Branch - Prudential Assurance Building, Wabera Street Nairobi
- Buru Branch - Kenol Buru Buru, Mumias South Road, Nairobi
- Diamond Plaza Branch - Diamond Plaza, Parklands, Nairobi
- Donholm Branch - Nairobi Eastgate Mall
- Eastleigh Branch - Sunrise Shopping Mall, 1st Avenue, Eastleigh, Nairobi,
- Elite Bank Centre - 1st Floor, ABC Building, Waiaki Road, Nairobi
- Embakasi Branch - 1st Floor, Taj Mahal Shopping Mall, Embakasi Outer Ring Road, Nairobi
- Hurlingham Branch - 1st Floor, North Wing, Landmark Plaza, Argwings Kodhek Road, Nairobi
- Ngara Branch - Peace Plaza, Ngara Road, Nairobi
- Parklands Branch - 1st Floor, Mediplaza, Parklands 3rd Avenue, Nairobi
- Riverside Mews Branch - Riverside Mews, Riverside Drive, Nairobi
- Sameer Park Branch - Sameer Park, Mombasa Road, Nairobi
- Strathmore Branch - Strathmore Student Centre, Madalaka Estate, Olesangal Road, Nairobi
- Upper Hill Branch - KMA Centre, Junction Of Chyulu/Mara Road, Upper Hill, Nairobi
- Village Market Branch - 3rd Floor, Village Market, Limrou Road, Gigiri, Nairobi
- Windsor Branch - Ridgeways Mall , Kiambu Road, Nairobi
- Ongata Rongai Branch - Masaai Mall, Rongai Road Nairobi
- Delta Branch - Delta Towers, Westlands Roundabout Nairobi
- Lunga Lunga Branch, Adjacent To Tuskys Lunga Lunga, Nairobi Industrial Zone
- River Road Branch - Sundries Square, Ground Floor, River Road
- Kilimani Branch - Adlife Plaza, Kilimani Nairobi
- Kasuku Express Branch - Kasuku Center, Kileleshwa Nairobi
- Karen Blanche - Watermark, Commercial Plaza, Karen Nairobi
- Lavington Branch - 3rd Floor, Lavington Green Mall, Lavington Nairobi
- Kimathi Branch - Ansh Plaza, Kimathi Street Nairobi
- Madaraka Express Branch - Opp Getrudes Along Langata Road At TOTAL Petrol Station In Nairobi
- Mombasa Branch
- Bondeni Branch - Ground Floor, Suhufi Palace, Abdul Nasser Road, Mombasa
- Mombasa Branch - 1st Floor, Jubilee Building, Moi Avenue, Mombasa
- Nyali Branch - Nyali Plaza, Links Road, Mombasa
- Mtwapa Branch - Tuskys Mall, Mtwapa Mombasa
- Old Town Branch - Opposite Mombasa Central Police
- KPA Branch - KPA Mombasa
- Kilifi Express Branch - Kenol Kobil, Kilifi Road Kilifi
- Inland Branch
- Eldoret Branch - Utamaduni Building, Kenyatta Street, Eldoret
- Kisii Branch - Royal Towers, Hospital Road, Kisii
- Kisumu Branch - West Emporium, Oginga Odinga Street, Kisumu
- Kisumu Express - Naivas Mall, Jomo Kenyatta Road, Kisumu
- Malindi Branch - Links Road, Opposite Multi Grocers Limited, Malindi
- Nakuru Branch - Spikes Business Centre, Kenyatta Avenue , Nakuru
- Thika Branch - Nelleon Building, Kenyatta Avenue, Thika
- Machakos Branch - At Naivas House, Along Mwatu Wa Ngoma Rd., Machakos Town Machakos
- Garissa Branch - Lilac Plaza Along Kismayu Road
- Narok Branch - Ol Talet Shopping Center. Ground Floor, Opposite KCB Along Narok On Kisii Highway In Nairobi
- Kitale Branch - Nakumatt Mall, Mega Centre Kitale
- Kericho Branch - Ratan Square Along Kericho On Kenyatta Road
Governance
The Bank Is Governed By An Eight-member Board Of Directors. Musoni Kuria Is The Chairperson Of The Board. Paul Njaga As Managing Director And CEO Row Owner Name Percentage Of Ownership 1Rinascimento Global Limited 15.92 Shegas Limited 13.93 Balst Investment Holdings Limited 11.24 France Amethis Finance 10.95 Festuca Investments Limited 9.36 German Investment Company (DEG) 6.67 Carlo Van Wageningen 6.58 Employee Stock Ownership Plan 4.39 Responsible Investments/ResponsAbility Participations AG3.410Namaja Investments Limited 3.011 Other Local And International Investors 15.0 Total 100.00
