The Kenya Commercial and Diamond Trust banks are set to start verification and registration of collapsed Imperial Bank customers in preparation for payments to be made from mid December.
In a joint statement yesterday, the two lenders who were picked by Central Bank of Kenya (CBK), to implement the payments due to depositors of Imperial Bank said the process will be done in select branches within their network.
CBK pointed that the receiver manager Kenya Deposit Insurance Corporation will give the money to the two banks to be disbursed to depositors. Under the plan, 88.6 per cent or 44,300 depositors with up to Sh1 million will get back their cash in full while the remainder 5,700 will get up to Sh1 million with the rest paid structurally after due diligence, set to be completed next March.
Chief Executive Officer of Diamond Trust Bank, Nasim Devji said “DTB will work together with the affected customers to gather, verify and validate their details for the purpose of making the disbursement seamlessly. We are determined to see how best to secure their businesses with minimal disruptions in service and enable them to conduct their usual banking transactions at any of its branches across the region,” adding that DTB Imperial Bank was placed under receivership on October 13 after some of its shareholders reported unsound banking malpractices to the CBK.
“As the disbursing agents, we are standing with Kenyans affected and we will work round the clock to ensure that the process is seamless so that customers can access their funds before the Christmas period,” said KCB Chief Executive Joshua Oigara.