The Kenya Deposit Insurance Corporation has stated that it will begin paying protected depositors to Imperial Bank depositors more than 8 years after the bank’s demise.

The Kenya Deposit Insurance Corporation (KDIC) would compensate Imperial Bank depositors with 2.2. Each of the 4300 depositors who have yet to receive full compensation will receive 500000 Kenyan Shillings. The time it takes depositors to collect the full amount of their deposits, on the other hand, will be longer.

KDIC was named bank receiver by the CBK on October 13, 2015. For the imperial depositors, an eight-year wait was finally over. When the KDIC planned to give KSH 500000 Beach to all 4300 customers. KDIC made contact with the depositors and (croutons) of the failed lender on Monday, April 3, 2023, through the issuance of a public notification. In part, the notice stated;

Creditors of the collapsed lender have also been instructed to upload proof of debt for verification. The lender’s liquidation follows the validation of KDIC’s suggestion on December 7, 2021, when they filed a receivership report with the central bank and proposed that the bank be liquidated.

Furthermore, the KDIC has recommended that bank creditors begin loading evidence of debt for validation. According to KDIC, after claims are approved, the funds will be distributed all at once. KDIC also plans to pay depositors KSH 2.05 billion as a protected payment. It should be emphasized that for the next two years, this will just reflect payment of the insured deposit amount.