Why Imperial Bank depositors will access their cash through KCB

 

“Depositors who will be claiming their funds for the first time through KCB Bank are required to open an account with any of the KCB Bank branches and shall complete a claim form with the assistance of the bank officials who will forward the same to IBL for processing,” KDIC said in a published notice.

Those who had previously claimed part of their deposits through KCB are only required to counter check their account status with their respective branches.

“This is a significant milestone which is yet another convincing marker of Kenya’s financial sector’s 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 days,” says KCB Group CEO Joshua Oigara.

“The loan verification process is expected to result in further recoveries for eligible depositors of IBLR,” the CBK said in a joint statement with the KDIC last week. 

Read: Relief for depositors as central bank accepts KCB’s bid to acquire Imperial Bank