The fall of Cooperative Bank Kenya

 

Kenya: Co-Op Bank Tells Customers to Ignore Rumours of 'Imminent Collapse'

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22 JUNE 2020

Nairobi News (Nairobi)

By Amina Wako

Co-operative Bank of Kenya on Monday morning dismissed reports that have been making rounds on social media that the bank is on the verge of collapsing.

In a statement on its official Facebook page, the bank said that the message was being peddled by a well-known individual and should be ignored.

"This malicious post circulating on WhatsApp groups is a deliberate smear campaign done by a known and disgruntled individual. It's false in its entirety. Please ignore it," the bank said.

The bank went ahead to share a screenshot of the message that has been making rounds.

In the screenshot, details that the bank is dealing in various forms of theft were given.

Additionally, the message asked customers who have accounts with the bank to withdraw their money from the bank and seek other options.

Read the original article on Nairobi News.

Tagged:

It is possible that the bank underperformed because of the following :

1.Corona

2Non performing loans

               3 Poor economy 

               4 Excessive borrowing by the government from the local                        5economy