In 2006, the Central Bank of Kenya (CBK) placed Charterhouse Bank under statutory management; It had 10 branches in Nairobi, Kisumu and Mombasa. [File, Standard]After 15 years, Charterhouse Bank has finally been wound up, going down in history as one of Kenya's smallest but “dirtiest” banks. In 2006, the Central Bank of Kenya (CBK) placed Charterhouse Bank under statutory management; it had 10 branches in Nairobi, Kisumu and Mombasa. Estimated undeclared sales stood at Sh911 million,” later noted Africog, a governance and anti-corruption organisation, in a report on Charterhouse Bank dubbed Smoldering Evidence. During investigations, it also emerged that the management of Charterhouse Bank was involved in suspicious activities with its customers.

Source: Standard Digital May 10, 2021 14:48 UTC