List Of Collapsed Banks In Kenya
In this article Keweb.co tries to answer the question by publishing the full list of Collapsed Banks in Kenya
Below are the full List of Collapsed Banks In Kenya
In the wake of the collapse of Chase Bank, it is worth retracing Kenya’s banking sector’s “rich” history of having banking institutions go bust.
The First Wave (before passing of 1989 Banking Act); 1984-1989, Post-Independence; mainly family/community owned banks:
1.Union Bank
2.Jimba Credit Cooperation
3.Estate Finance
4.Estate Building Society
5.Business Finance
6.Nationwide Finance
7.Kenya Saving and Mortgages
8.Home Saving and Mortgages
9.Citizen Building Society
The Second Wave; 1993-1995: 19 banks collapsed, several of which had been wrapped up in the Goldenberg Scandal.
The Third Wave,1998
10.Bullion Bank
11.Fortune Finance
12.Trust Bank
13.City Finance Bank
14.Reliance Bank
15.Prudential Bank
2007 – 2015, under former Central Bank of Kenya (CBK) Governor Prof Njuguna Ndungu
16.Kenya Finance Corporation
17.Trade Bank
18.Euro Bank
19.Charter House
*None of the stated banks was put under liquidation.
June 2015 to present, under new Central Bank of Kenya Governor Patrick Ngugi Njoroge
20.Dubai Bank
Customer Deposits-Sh1.7 billion
•August 14, 2015; placed under statutory management by the Central Bank of Kenya for a period of one year with Kenya Deposit Insurance Corporation (KDIC) as the receiver manager.
•24th August 2015, CBK appoints KDIC as liquidator of Dubai Bank Kenya.
21.Imperial Bank
Customer Deposits-Ksh58 billion
How many banks have collapsed in Kenya?
Kenya has experienced banking problems since 1986 culminating in major bank failures (37 failed banks as at 1998) following the crises of; 1986 – 1989, 1993/1994 and 1998 (Kithinji and Waweru, 2007; Ngugi, 20
Why do banks fail in Kenya?
Kenya has witnessed the collapse of more than a dozen banks since 1993 — including Euro Bank, Trust Bank, Charter House, Prudential Bank and Trade Bank — due to corporate malpractices such as irregular lending by executives.
Which are the safest banks in Kenya?
The Kenya Commercial Bank is Kenya’s most trusted commercial financial facility.