Imperial Bank receivership extended by one year to shortlist investors

August 1, 2017
Speaking to the depositors of the collapsed lender, CBK Governor Patrick Njoroge said they are open to investors who are willing to bring the bank back on its feet/FILE

, NAIROBI, Kenya, Aug 1 – The high court has granted a 12-month extension of the receivership of Imperial Bank Limited.

The move follows an agreement with stakeholders that will enable the regulator to move on with seeking a potential strategic investor that will revive the bank.

This is the third time the Imperial Bank Limited receivership is being extended.

In June, CBK released a tentative timeline for the revival of the bank that needs a 40 billion capital injection.

The regulator says that it’s open to investors who are willing to bring the bank back on its feet.

“We are not removing any option from the table, we are looking at investors who are keen to offer rapid recovery of your deposits, we will do everything in our power to accelerate the process that has taken too long due to the court processes, we urge you to support us,” CBK Governor Patrick Njoroge noted. .

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