NIC Bank will take charge of a portion of assets and liabilities in the collapsed Imperial Bank, subject to Mombasa High Court's ruling on July 4, dashing revival hopes. “NIC will undertake on behalf of KDIC an assessment of the quality of IBL’s assets and liabilities, support the recovery of IBL’s loans and provide guidance on other assets and on staffing,” CBK governor Patrick Njoroge said when he unveiled NIC as assets and liabilities consultant for IBL. I talk to them,” Njoroge told a press conference. Njoroge said a decision to liquidate IBL was yet to be taken, and that KDIC will be disposing of part of the assets and liabilities and not selling them off. We told you we'll stick by the law, we told we will even be haunted, we told told you we will be quick.”The IBL shareholders, he said, have recently told him they won't raise Sh10 billion they had promised last October.

Source: The Star June 22, 2016 03:11 UTC