KDIC opens door for other lenders to buy Imperial BankThe Kenya Deposit Insurance Corporation (KDIC) plans to invite other local banks to bid for some of the remaining assets of the collapsed Imperial Bank. KCB is currently finalising its partial takeover of some of Imperial Bank’s loans and deposits and has identified Sh5 billion worth of loans that it plans to buy. This would still leave KDIC, Imperial Bank’s statutory manager, with a larger fraction of more than Sh30 billion loans that the bank had. KCB is taking just a slice,” said KDIC Chief Executive Mohamud Mohamud on Thursday. “There is another party that had approached us and wanted to buy Imperial Bank.

Source: Standard Digital November 15, 2019 21:11 UTC