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Kenyan bank's chairman, managing director depart

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Kenyan bank's chairman, managing director depart

Chase Bank(Kenya) Ltd. said April 6 that Muthoni Kuria will chair the bank'sboard, replacing Zafrullah Khan.

Khan and Managing Director Duncan Kabui stepped down fromtheir roles after the publication of the bank's 2015 financial statements.

The bank declared a loss of 742 million Kenyan shillings forfull year 2015, compared to a profit of 2.3 billion shillings in 2014, Business Daily Africa wrote the same day.The bank had on March 31 reported loans to insiders of 5.72 billion shillings,but upped the figure to 13.62 billion shillings in an April 5 revision, thepublication noted separately.

The bank added that Paul Njaga will continue as CEO. He hasbeen in the role since December 2014.

As of April 5, US$1was equivalent to 101.35 Kenyan shillings.