This archive report was first published on 2 September 2019.
On September 2, 2019, the Central Bank of Kenya (CBK) announced a deal that would see KCB Group take over 7.5% of the outstanding deposit balance of Imperial Bank's deposits.
This move is expected to push the recovery rate to depositors of Imperial Bank (under receivership) to reach 40%, with a total recovery rate of Ksh31.7 billion out of the total amount of eligible deposits of Ksh. 70.9 billion.
The recovery rate, however, will not include loan balances undergoing legal verification, which will continue to be pursued by CBK and the Kenya Deposit Insurance Corporation (KDIC).
