Central Bank of Kenya is the safest in +254

Citi bank plays in the big league only and only opens corporate accounts (EABL etc types). Us and our small personal and SME fortunes can take our money to I&M and will be welcomed with open hands.

CBK Governor to hold a press briefing at 10.30 am,
amid worries over the health of some banks.

Number8, the poet @DannMwangi

• Chase Bank's management & auditors had back and forth on some issues where managers couldn't provide sufficient info on some areas
• If auditors see large differences in a banks books, they are required by law to report to CBK. Chase Bank's auditors did that
• The issues the auditors brought to CBK included loans to two directors. The board sat and decided that they step aside.
• Banking Act is clear that we in effect put the bank on life support - receivership - which we did.

• Insider lending calls to question the governance of the institution. A bank is not a 'mama mboga'.
• There are limits on insider lending and also for lending to an individual, as it becomes the bank's burden, which can be dangerous
• Governance is not just CEO, but also the rest of management, the board, the shareholders. I expect some serious discussions at AGMs
• On Friday, we saw conversations that showed a growing storm that threatened to hit the financial system & it was growing by the day
• People were having less confidence in their bank's, and the 'storm' was waiting for Monday when bank doors would be open to erupt.

• The announcement of CBK's new funding facility calmed the storm and it was visible when we looked at the numbers on Monday.
• The new facility is not a fund, it's a framework, therefore there is no limit to it. We stop the train before it crashes.
• It's not a loan, not a credit, not a bail-out. It's the CBK that decides when to come in.