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Imperial Bank set to get a new owner

By Otiato Guguyu | Published Sat, April 14th 2018 at 00:00, Updated April 13th 2018 at 23:57 GMT +3
Imperial Bank

Imperial bank is set to get a new owner next week with speculation high that Diamond Trust bank will take over the troubled lender.

Kenya Deposit Insurance Corporation (KDIC) chief executive officer Mahmoud Mohamed said that they will make an announcement next week signaling the end of the two year wait under receivership.

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“I cannot comment on DTB because the expression of interest is ongoing, but if you wait we will make an announcement next week,” Mr Mohamed said.

The Central Bank Governor on Thursday said that on March31, 2018, KDIC and CBK had received non-binding offers from shortlisted investors that were being evaluated.

“We did get offers from two selected bidders and we have gone back to them for better offers,” Njoroge said

Bloomberg news then reported that Diamond Trust Bank Kenya has been selected to acquire Imperial Bank Ltd. in an effort to revive the troubled lender.

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However, DTB boss Nasim Devji denied the reports stating that it was all rumours.

“It has become a nightmare for me. It’s not true, all rumours,” Ms Devji said.

Imperial Bank that as put in receivership in October 2015 has been a hot potato with the regulator sparking a banking crisis and implicating some Central Bank officials in the multibillion scam.