{"id":13988,"date":"2020-09-06T20:09:51","date_gmt":"2020-09-06T20:09:51","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=13988"},"modified":"2020-09-06T20:09:51","modified_gmt":"2020-09-06T20:09:51","slug":"imperial-bank-depositors-start-receiving-cash-from-kcb-group","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group","title":{"rendered":"Imperial Bank depositors start receiving cash from KCB Group"},"content":{"rendered":"<p><strong>Author:\u00a0Wainaina Wambu<\/strong><br \/>\n<strong>AfricaPress-Kenya:<\/strong> KCB Group has begun payments to remaining eligible depositors of Imperial Bank which is in receivership.<\/p>\n<p>The disbursements valued at Sh3.2 billion are being paid in tranches over four years and target depositors approved by the Kenya Deposit Insurance Corporation (KDIC) &#8212; the receiver-manager &#8212; get partial access to their bank balances.<\/p>\n<p>Depositors will have cumulatively recovered 37.3 per cent of the deposits since 2015 when payments commenced, KCB said.\u00a0In May, the Central Bank of Kenya (CBK) announced the acquisition of assets valued at Sh3.2 billion and the assumption of liabilities of the same value of Imperial Bank by KCB Bank effective June.<\/p>\n<p>Under the transaction that commenced in 2019, the balances due to eligible depositors were to be paid out as follows; 12.5 per cent on completion of the signing of the agreement; 12.5 per cent on the first anniversary of the signing; and 25 per cent each on the second, third and fourth anniversaries respectively.<\/p>\n<p>\u201cThis is significant progress in our efforts to ensure that Imperial Bank depositors receive their long-awaited dues. We remain committed to supporting the recovery of funds and we are optimistic that these efforts will be a success in the fullness of time,\u201d said KCB Group CEO and MD Joshua Oigara.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author:\u00a0Wainaina Wambu AfricaPress-Kenya: KCB Group has begun payments to remaining eligible depositors of Imperial Bank which is in receivership. The disbursements valued at Sh3.2 billion are being paid in tranches over four years and target depositors approved by the Kenya Deposit Insurance Corporation (KDIC) &#8212; the receiver-manager &#8212; get partial access to their bank balances. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":13982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[5561,4248],"class_list":["post-13988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-imperial-bank","tag-kcb-group"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Imperial Bank depositors start receiving cash from KCB Group - kenya<\/title>\n<meta name=\"description\" content=\"KCB Group has begun payments to remaining eligible depositors of Imperial Bank which is in receivership.The disbursements valued\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Imperial Bank depositors start receiving cash from KCB Group\" \/>\n<meta property=\"og:description\" content=\"KCB Group has begun payments to remaining eligible depositors of Imperial Bank which is in receivership.The disbursements valued\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-06T20:09:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/09\/imperial_bank_deposi5f54cad76c2b5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"653\" \/>\n\t<meta property=\"og:image:height\" content=\"374\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Imperial Bank depositors start receiving cash from KCB Group\",\"datePublished\":\"2020-09-06T20:09:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group\"},\"wordCount\":215,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/09\/imperial_bank_deposi5f54cad76c2b5.jpg\",\"keywords\":[\"Imperial Bank\",\"KCB Group\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/imperial-bank-depositors-start-receiving-cash-from-kcb-group\",\"name\":\"Imperial Bank depositors start receiving cash from KCB Group - 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