The imperial bank limited.[Photo/Nairobi times.]
The Central Bank (CBK) and the Kenya Deposit Insurance Corporation (KDIC) has finally shortlisted investors to buy the stake at the collapsed Imperial bank Ltd.
According to CBK and KDIC, three buyers have been selected after they showed interest during the bidding process that was carried out between September 8 and 29.
“The shortlisted investors were determined using appropriate and objective criteria based on, inter alia, regulatory imperatives and prudential guidelines which will ensure a speedy and optimal recovery for depositors, creditors and other stakeholders of IBLR,” said CBK and KDIC on Friday in a joint statement
The Imperial bank was closed and put under receivership by CBK in 2015 after a report by the lender's board showed Sh34 billion fraudulent loan schemes that were not clearly accounted for.
Prior to being put under the receivership, the Imperial bank was estimated to have Sh 87 billion of the customer's deposits.
In May, the Central Bank had allowed the NIC bank to take over some of the collapsed Imperial Bank's assets and liabilities.
NIC was also allowed to access a fraction of the Bank's deposits and also resume the disbursement of the depositor's money up to a maximum of Ksh 1.5 million.
The three shortlisted investors will now be able to access all the confidential information from the IBL and will also be allowed visit the bank's assets between this October to January 17 ,2018 where they will be expected to submit non-binding bids.