It was all over the media two weeks ago, when the tragic demise of Chase Bank was announced.

As it turns out now, the situation may have just been salvaged.

The Bank will be reopened next week Wednesday.

The Central Bank of Kenya and the Kenya Deposit Insurance Corporation reached an understanding with the KCB on modalities to reopen the bank put under receivership and a possible acquisition of a majority stake in it.

KCB’s will now facilitate the safeguarding of the interests of Chase Bank’s depositors and creditors, and the wider public interest.