THE STANDARD
By
The Standard |
December 18th 2020 at 01:00:00 GMT +0300
Central Bank of Kenya (CBK) holds and manages foreign exchange reserves, is charged with the responsiblity for formulating monetary policy to achieve and maintain price stability Feb 6, 2020. [Jonah Onyango, Standard]
A Central Bank of Kenya (CBK) report has exposed how naughty banks engaged in insider lending or breached the capital adequacy ratios.
In its 2019 Banking Annual Supervision Report, CBK said nine banks did not have adequate capital buffers since most of them were running on empty while another four banks were listed for over-indulging in insider lending.
It was because of such malpractices that Imperial Bank, Dubai Bank and Chase Bank were sunk. Chase Bank has since been acquired by SBM Bank, previously known as Fidelity Commercial Bank Limited.