Saturday, May 23, 2020

KCB to pay collapsed Imperial Bank depositors ksh 3.2 billion

    May 23, 2020   No comments

Kenya Commercial Bank

KCB will commence the payment of ksh 3.2 billion to Imperial Bank (In Receivership) depositors from June 2, 2020 over a period of four (4) years.

This follows after Friday  approval by the Central Bank of Kenya (CBK) to allow KCB to acquire some Imperial Bank assets worth ksh 3.2 billion and a subsequent liabilities worth ksh 3.2 billion.

Imperial Bank was have been in Receivership since October 2015 following poor conducting of business.

Details of how the depositors will get their money will be communicated later by Kenya Deposit Insurance Corporation (KDIC) and Kenya Commercial Bank (KCB).

Mwabaya Katana

About Mwabaya Katana

Mwabaya is an experienced and talented finance content creator based in Kenya. He is the Founder of Loans Kenya Blog.

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