Governance in many institutions remains an essential issue as a means to increasing shareholder value and demonstrating the readiness and capability of management to lever this issue. Kenya's banking industry in the latest past has been on the lime light with some big banks, which were deemed to be performing being put under receivership on what has been attributed to weak corporate governance. This study sought to know the effect of the various governance variables on financial performance by way of a case study research of Chase bank in Nairobi, Kenya. Four variables including board characteristics, internal controls, ownership and risk management were used to establish the extent to which corporate governance impacted the overall financial performance of commercial banks. The study employed a descriptive research design embracing the use of structured questionnaires. The questionnaires designed were issued to respondents with an aim to collect information on how the bank was governed. The data was obtained from 69 members of staff, which included the top management team and the relevant department, who were all administered with the questionnaires. The research instrument was then pilot tested for reliability and validity. The analysis was done using descriptive statistics such as mean scores, frequencies and percentage. Pearson correlation technique was used to establish the strength and significance of the relationship of board characteristics, ownership, internal controls and risk management and financial performance in commercial banks in Kenya. Field study was done and the data analyzed and discussed to come up with a conclusion which helped the study to give commendation to the concerned parties. The study found out that board characteristics positively influenced the financial performance at Chase bank Kenya. In addition, consideration of the bank's ownership ensured improved financial performance. Internal controls and risk management were also identified as key to good governance which guaranteed enhanced financial performance. The study thus recommends that in order to guarantee improved financial performance the commercial banks need proper governance practices.