PLEASE NOTE: NIC Bank and the selected IBLIR Branches will accept claim forms from IBLIR depositors not later than Tuesday 31st January 2017.
On 21st June, 2016, Central Bank of Kenya (CBK) announced a joint agreement with the Kenya Deposit Insurance Company (KDIC) to appoint NIC Bank to act as the Asset and Liabilities consultant for Imperial Bank Limited (in Receivership) (IBLIR). This will see NIC Bank provide IBLIR depositors access to a portion of their deposits in a structured manner. NIC Bank will;
Undertake, on behalf of KDIC, an assessment of the quality of IBL’s assets and liabilities effective immediately.
Support the recovery of IBLIR’s loans and provide guidance on other assets and on staffing effective immediately.
Disburse the 2nd tranche, on behalf of KDIC, up to Kshs 1.5 million each to 2nd time claimants and up to Kshs. 2.5 million for 1st time claimants subject to account and identity verifications.
Disburse the 3rd tranche, on behalf of KDIC, to each remaining depositor 10% of their current deposits held subject to a minimum of KES 200,000 or the actual deposit amount for balances below KES 200,000.
Subject to a due diligence and contract review, and following negotiations, KDIC will dispose of, and NIC Bank will assume, a portion of the remaining verified deposits along with certain other assets and liabilities.