Imperial Bank collapsed photo

The Central Bank of Kenya (CBK) approves the liquidation of sank Imperial Bank, establishing the procedure of selling the lender’s remaining properties.

Imperial Bank collapsed six years ago with money belonging to depositors, bondholders and creditors and has been under receivership of the Kenya Deposit Insurance Corporation (KDIC).

In the six years of receivership, the remaining money was used to pay depositors, including the sale of Sh3.2 billion assets and liabilities to KCB Bank last year.

CBK says only 4,300 depositors, representing eight percent, are yet to get back their money in full.

Following four payment disbursements, 45,700 out of the 50,000 (92 percent) depositors have accessed their funds in full,” CBK Governor Dr Patrick Njoroge

Post a Comment

What is your say on this

Previous Post Next Post