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KDIC starts paying Imperial Bank customers third tranche 

The Kenya Deposit Insurance Corporation (KDIC) has started paying Imperial Bank Limited (IBL) customers the third tranche through NIC Bank.

In a statement by the Central Bank of Kenya (CBK) yesterday afternoon, the Bank of last resort said KDIC commenced a third disbursement of funds to Imperial Bank depositors yesterday.

Under the plan, verified depositors will be able to access additional funds of up to 10 per cent of their remaining deposits subject to a minimum of Ksh200,000 or the actual deposit amount for balances for below Ksh200,000.

“Verified depositors will be able to access these funds through NIC Bank as was the case for the second disbursement in July 2016. Any new claims should be lodged and processed through NIC Bank,” it observed.

CBK said the recovery of Imperial Bank loans will continue, which will allow access to additional resources by depositors and other stakeholders. “All IBL borrowers should continue making payments on their loans as is currently required,” said CBK.

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