Updated Tue, June 21st 2016 at 11:01 GMT +3NAIROBI, KENYA: NIC bank will act as the asset and liability consultant for the Imperial bank, which is currently under receivership. “As the Asset and Liability Consultant, NIC Bank will analyse Imperial bank’s asset and liabilities portfolio to enable the KDIC to determine the options available. This is on the back of an initial disbursement of Sh7 billion made available through Diamond Trust Bank Kenya Limited (DTB) and KCB Bank Kenya Limited (KCB). As part of this appointment, NIC Bank will disburse, on behalf of KDIC, payment to the depositors of Imperial Bank on terms and conditions to be mutually agreed. The role endorsed by Central Bank of Kenya on Tuesday will also enable NIC advice Kenya Deposit Insurance Corporation (KDIC) in regards to the servicing of loans, staffing and other assets of Imperial bank.

Source: Standard Digital June 21, 2016 07:52 UTC