KCB to pay claims of the Imperial Bank Limited Customers

Imperial Bank customers arrive only to find the doors closed Oct. 2015.

 

By Catherine Nandasaba

The Kenya Commercial Bank customers will on Thursday start accessing the 12.7%  of eligible deposit balances that was remaining at Imperial Bank Limited (In Receivership) (IBLR) from any KCB branches across the country.

This just follows  after the bank finalized the process of settling claims by depositors of Imperial Bank Limited (IBLR) on Wednesday.

The Central Bank of Kenya (CBK), had on December 11,2018 , appointed the KCB as an agent of Kenya Deposit Insurance Corporation ( KDIC)­­­­­­­­­­­­­­­­­­­­­­­—–the IBLR Receiver manager to disburse the funds to the depositors.

“This is a significant milestone which is yet another convincing marker of Kenya’s financial sectors ability to offer viable solutions benchmarked against global best practice. We have put in place robust processes to guide the next steps and we will communicate the way forward to IBLR customers within a few day,” said the KCB Group CEO and MD Joshua Oigara , who was at its offices in Nairobi.

The MD also added that depositors who had claimed in the past through KCB and still have their accounts active will not be required to fill any claim  form and their available funds will be directly credited into their respective KCB accounts.

Mr. Joshua also noted that depositors who will be claiming their funds for the first time through the bank will be required to open an account with any of the KCB branches  and shall complete a claim form with assistance of the officials who will therefore forward the same to IBLR for processing.



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