Kenya: Bank Gave Sh16.6 Billion Unsecured Loans to Directors, CBK Says

Troubled lender Chase Bank irregularly advanced Sh16.6 billion to various entities, many of them associated with insiders, putting billions of shillings belonging to 55,000 depositors at risk.

Half of the irregular loans went to the bank's insiders, the Central Bank of Kenya (CBK) said in a statement on Thursday after it placed Chase Bank under statutory management.

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