Imperial bank under receivership [News Bulletin]
Central Bank of Kenya has announced that it has placed Imperial Bank Limited under receivership for a year.
In a statement, CBK states that it has become aware of unsafe and unsound business conditions at the bank.
CBK has also announced the appointment of Kenya Deposits Insurance Corporation as the manager and controller of Imperial Bank Kenya for a period of 12 months.
The bank’s receivership follows its launch of a two billion shilling corporate bond offer in August was due to be listed on the Nairobi Securities Exchange later this month on the thirtieth.
In a statement, CBK states that it has become aware of unsafe and unsound business conditions at the bank.
CBK has also announced the appointment of Kenya Deposits Insurance Corporation as the manager and controller of Imperial Bank Kenya for a period of 12 months.
The bank’s receivership follows its launch of a two billion shilling corporate bond offer in August was due to be listed on the Nairobi Securities Exchange later this month on the thirtieth.