President Kenyatta says the clean-up on banking sector was long - overdue

President Uhuru Kenyatta expressed confidence in the overall health of the banking and financial sector in Kenya, and said that what the country is going through is a long-overdue cleanup of the sector. The President added that what remains important is the protection of depositors. He was speaking as he wound up his European tour, which took him on official visits to France and Germany. Midsize lender Chase Bank was placed under receivership, locking in billions of shillings in deposits.