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End of Imperial Bank as CBK okays winding up
Imperial Bank's branch in Likoni, Mombasa County in this picture taken on October 14, 2015.
Photo credit: File | Nation Media Group
What you need to know:
- The Bank has been under receivership for almost five years, a period during which most of the money has been used to pay depositors.
- CBK says 92 per cent of savers have received their total cash from their bank leaving 4,300 depositors.
The Central Bank of Kenya has ordered the liquidation of collapsed Imperial bank, setting stage for the sale of the lender’s remaining assets to be distributed among 4,300 depositors, creditors and bondholders.
Imperial Bank collapsed six years ago with depositors cash, bondholders investments and creditors money and has been under receivership of the Kenya Deposit Insurance Corporation (KDIC).
