First Community Bank assure depositors all is well amid panic withdrawals

NAIROBI—The First Community Bank (FCB) has for the second time in two weeks come out to assure its clients that the normal operation of the bank was going smooth amid panic withdrawals occasioned by what the lender said was malicious.

FCB chief executive officer, Mr Hussein Hassan, said in a statement that speculation has seen depositors make withdrawals.

“First Community Bank would like to assure all our esteemed customers and the general public that the Bank remains in a good position to serve you now and in the long-term,” said Mr Hassan.

“We acknowledge that our customers may currently be experiencing challenges in some of their transactions occasioned by panic withdrawals informed by malicious rumours,” he added.

The bank said “unprecedented withdrawals” had also forced it to limit the daily withdrawal limit of its customers.

“As a responsible bank, FCB understands that these restrictive measures have not been favourable to our customers but are necessary to maintain stability in the short and long-term,” said Dr Hassan.

“We are continuing to implement a number of measures to address the challenges customers are currently experiencing. We urge our esteemed customers to maintain confidence in FCB reposed in us over the years and for the general public to engage us directly to obtain accurate information.”