"We want cheaper deposits and we believe they will be available within the SME and retail segment," he added. NIC was appointed by state receiver Kenya Deposit Insurance Corporation (KDIC) last week to assess the liabilities and assets of Imperial Bank, which was put into receivership last October after fraud was uncovered. "From an NIC perspective we are known for professionalism and we will live up to that professional expectation," he said. "We need to serve more selected retail and SME (small and medium enterprise) customers," Gachora said, adding extra branches will be in places accessible by the target customers. NIC got the right to take over some of Imperial's performing assets when it finishes the due diligence.

Source: Standard Digital June 28, 2016 11:03 UTC