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Hope for depositors as CBK puts Imperial Bank on sale

Imperial Bank was placed under receivership in October 2015.[Photo: file, Standard]

Depositors at Imperial Bank Limited (IBL) have welcomed news that the bank will be sold off within 12 months, saving them from the gruesome pain of liquidation that historically takes years.

Central Bank of Kenya Friday put out a notice to sell the lender, inviting former shareholders of the bank and other strategic investors interested in the failed lender.

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