And the dominos start crumbling.

Don't be surprised to find your own bank that you are calling to safe to fail, going through these motions in a short while.

Runs on banks based on rumors have brought down countries.

People think that banks keep their money in the safe deposit box in their branch. There is no bank on earth with enough money to pay off its depositors when they all come for their monies in one day. Hakuna

I'm asking for a bit of retrospect here from the usual suspects on wazua. Scaremongering can lead straight to your safe bank.

CBK Governor p. Njoroge Press Brief

"We don' have a timeline on when Chase Bank will resume operations.

It depends on shareholders capital injection.

We met with shareholders on March 30,including institutional ones to increase their resources.

Social media rumours were reckless, led to a run on deposits of Chase Bank.

Yesterdays haemorrage on deposits was so large, Chase bank could not meet its obligations.

Chase bank would have survived had they dealt with the insider lending, non performing loans.

Africa Devpt Bank Ksh 5B signed last week hadn't been disbursed.
Chase bank hadn't received it.

Rafiki Microfinance isn't affected.

Last night we agreed with Chase Bank shareholders on amount and timeline but disagreed on who will provide the money.

Chase Bank reopening depends on when the shareholders will inject funds."

Mpesa bank is not any safer than all the banks because the money it takes is in the same banks so if the banks go under it also goes under..

IMHO, the role of auditors in the banking mess should be investigated as deeply as possible. Being a "bandit" economy the possibility of auditors being compromised is all so real.

Maka my friend, what is wrong with Rafiki?

As in what is causing the run on Rafiki right now? Have their managers looted money? Are they also running fake accounts?

Or is it that they are owned by Chase bank? So fear and rumor.

There is no safe bank my friend once people start withdrawing. You cannot tell my mom NPL ratios. If she hears her neighbour is removing money from KCB, she will remove her money and KCB shall fall.

Never underestimate the power of rumors. We are watching right now unfolding.

The lines at Rafiki also don't augur well for Genghis. Actually I'm sure some wazua blue people are very excited at that prospect.

This was a straight up hack job done very well. With lies hidden in truth.