Payment of Imperial Bank depositors kicks off

December 12, 2015
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On December 2, Central Bank of Kenya signed a joint agreement with KCB and DTB to provide Imperial Bank access to their deposits. Photo/FILE.
On December 2, Central Bank of Kenya signed a joint agreement with KCB and DTB to provide Imperial Bank access to their deposits. Photo/FILE.
NAIROBI, Kenya, Dec 12- The payment of Imperial Bank depositors, which is under receivership, has kicked off.

According to the Kenya Deposit Insurance Corporation (KDIC) CEO Aggrey Bett, at least 44,300 depositors who have less than Sh1 million will access all their amounts while the remaining 5,700 with more than a million will access just Sh1 million.

“Pursuant to the Central Bank of Kenya press release dated December 2, on payment of Imperial Bank depositors up to an amount of Sh1 million per depositor, KDIC now wishes to inform depositors of the bank that payments have commenced effective December 11, 2015,” Bett said.

He revealed that payments to a number of validated claims have been initiated to the Kenya Commercial Bank (KCB) and Diamond Trust Bank (DTB) who will contact the particular depositors daily effective December 11. Each time this happens, KCB and DTB will contact the involved depositor to collect payment.

On December 2, Central Bank of Kenya signed a joint agreement with KCB and DTB to provide Imperial Bank access to their deposits.

Bett has called on the affected depositors to complete their claim forms and take them to the nearest KCB and DTB banks to help hasten the process.

Once filed, a response will be provided within three working days and a payment made if the claim is approved.

“Meanwhile, debtors are encouraged to continue servicing their facilities,” he said.

Since the bank was put under receivership in October this year, its fate remains unknown with Central Bank of Kenya Governor Patrick Njoroge earlier this month, mentioning that he did not know when the bank will be re-opened.

“I have no idea when the bank will be re- opened, I asked the shareholders to give me a credible plan on how they will pump in money, and up to now they haven’t,” he said.

Imperial Bank was put under receivership after it was revealed that there were fraudulent activities of substantial magnitude, and the misrepresentation of its financial statements.

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