6.2
6.5
7.502
7.063
7.6
5.8
4.8
6.726
6.6
6.3
No More Posts Available.
No more pages to load.
- Source: Imperial Bank Limited
Imperial Bank Limited commonly known as Imperial Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is one of the forty-three commercial banks licensed by the Central Bank of Kenya, the central bank and national banking regulator.
On 13 October 2015, the Central Bank of Kenya placed Imperial Bank under the management and control of the state's Kenya Deposit Insurance Corporation because of what the Central Bank termed as "unsafe and unsound business conditions" at the Bank. Separately, sources said an internal fraud scheme had occasioned the move.
The Central Bank of Kenya had hoped that owners of Imperial Bank would inject cash into the institution but has recently lamented that the shareholders had failed to make good on their promise.
Depositors of the troubled bank can now make their claims at any Central Bank of Kenya or Diamond Trust Bank Group branch and such claims will take three days to confirm their details before they are paid.
Overview
Imperial Bank is a medium-sized retail bank that caters to both individuals and corporate clients. As of December 2013, the bank's total asset base was valued at about US$498 million (KES:43 billion), with shareholders equity of approximately US$66.2 million (KES:5.719 billion). At that time, Imperial Bank Limited was ranked the 19th largest Kenyan commercial bank, by assets, out of forty-three licensed banks in the country.
History
Imperial Bank Limited was established in 1992 as a Finance and Securities Company. In 1996, the bank commenced commercial banking services, following the issuance of a banking license by the Central Bank of Kenya. In January 2011, the bank, in partnership with Mukwano Group, a Ugandan business and manufacturing conglomerate, opened a subsidiary, Imperial Bank Uganda, with headquarters at 6 Hannington Road, on Nakasero Hill, in the center of Kampala's central business district.
Subsidiaries and Investments
The companies that comprise the Imperial Bank include the following:
Imperial Bank Kenya – Retail banking – Nairobi, Kenya – 100% Shareholding – A commercial bank in Kenya, serving individuals and businesses, focusing mainly on large corporations. This is the flagship company of the group.
Imperial Bank Uganda – Retail banking – Kampala, Uganda – 58.6% Shareholding – A commercial bank in Uganda.
Ownership
The stock of the bank is privately held. The bank is a wholly owned subsidiary of Imperial Securities Limited. The detailed shareholding in Imperial Securities Limited is as follows:
Branch network
As of August 2014, the bank maintained a network of branches at the following locations:
Head Office – Imperial Court, Westlands Road, Westlands, Nairobi
Westlands Branch – Imperial Court, Westlands Road, Westlands, Nairobi
Upper Hill Branch – Bunyala Road, Upper Hill, Nairobi
IPS Branch – IPS Building, 8th Floor, Kimathi Street, Nairobi
Parklands Branch – Regal Plaza, Ground Floor, Limuru Road, 6th Avenue, Parklands, Nairobi
Card Centre – Regal Plaza, Ground Floor, Limuru Road, Parklands, Nairobi
Highridge Branch – Masari Road, Parklands, Nairobi
Mombasa Branch – Imperial Bank Building, Kaunda Avenue, Mombasa
Diani Branch – Beach Road Next to Collier Centre, Diani
Karen Branch – 1st Floor, Cross Roads Mall, Karen, Nairobi
Malindi Branch – Galana Centre, Lamu Road, Malindi
Watamu Branch – Tourist Road, Watamu
Thika Branch – Pushpa Plaza, Nkrumah Road, Thika
Eldoret Branch I – Imperial Court, Nairobi Road, Eldoret
Kilifi Branch – Kilifi Arcade, Biashara Street, Kilifi
Industrial Area Branch – Bamburi Road, off Enterprise Road, Nairobi
Village Market Branch – Village Market, Limuru Road, Gigiri
Riverside Branch – Riverside Green Suite, 1st Floor, Riverside Drive, Nairobi
Likoni Branch – Nova Holdings Complex, Nyerere Avenue, Mombasa
Haile Selassie Branch – Blueroom Building, Haile Selassie Road, Mombasa
Bamburi Branch – City Mall, 1st Floor, Bamburi, Mombasa
Changamwe Branch – Rhino Properties Refinery Place, Mombasa
Junction Branch – Junction Mall, Fourth Floor, Ngong Road, Nairobi
Nakuru Branch – Ground Floor, Westside Mall, Nakuru
Greenspan Branch – Manyanja Road, Off Outering Road, Nairobi
Eldoret Branch II – Laboso House, Kenyatta Street, Eldoret
Nyali Cinemax Branch – Nyali Cinemax, Mombasa.
Westgate Mall Branch-Nairobi
GardenCity Mall Branch – Thika Road
Lunga Lunga Branch – Industrial Area, Nairobi
Governance
Alnashir Popat, a non-executive director of the bank, serves as the Chairman of the seven-member board of directors. Following the death of Abdulmalek Janmohamed in September 2015, Naeem Shah was named managing director, on an interim basis.
Recent Developments
On 21 June 2016, the Central Bank of Kenya appointed NIC Bank as asset and liabilities consultant for Imperial Bank (in receivership). Effectively, NIC Bank took over the responsibility of returning funds to the failed bank's deposit customers. The agreement also allows NIC to acquire some of the deposits, assets and liabilities of Imperial once its receiver manager the Kenya Deposit Insurance Corporation starts liquidating the bank.
On 11 January 2017, IBL Depositors Lobby Group (a collaboration of investors affected by the continuously delayed and fraudulent Imperial Bank receivership of October 2015, drafted an open letter to the Central Bank of Kenya and Kenya Deposit Insurance Corporation (responsible for the receivership mandate) requesting a final statement regarding the ruling from Millimani Law Courts dated 4 November 2016 stating that 40% of the outstanding funds can and should be paid out to the effected parties awaiting their dues.
24 March 2017, Central Bank of Kenya extends the receivership for another 90 days expressing that the handlers of the receivership (Kenya Deposit Insurance Corporation) require more time.
3 May 2017, NIC Bank completes its process with assisting on the Imperial Bank Limited investigation and pay out structure.
See also
Imperial Bank Uganda
List of banks in Kenya
Central Bank of Kenya
Economy of Kenya
References
External links
Website of Imperial Bank Limited
Website of Central Bank of Kenya
Imperial Bank’s Expansion Pays Off
Kata Kunci Pencarian:
