Connect with us

Hi, what are you looking for?


Imperial Bank receivership extended by one year to shortlist investors

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. .

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...