By M&M
KCB is now the only investor interested in taking over the operations of Imperial Bank following withdrawal of interest by Diamond Trust Bank (DTB).
Central Bank of Kenya (CBK) confirmed earlier today that DTB had withdrawn its interest but gave no reasons for the withdrawal.
“The revised proposal was received from KCB Bank Kenya Limited (KCB), while the
other bidder has withdrawn from the process,” CBK said in a press release.
DTB withdrawal leaves CBK and Kenya Deposit Insurance Corporation (KDIC) at weak position as they have only one bidder to negotiate with.
In spite of the weak position it finds itself in resolving Imperial Bank receivership, CBK was upbeat that it could get a good deal for the bank’s depositors.
“Having assessed the revised proposal, CBK
and KDIC will engage KCB in discussions aimed at maximizing the value for depositors,” said CBK.
The banking regulator said he will provide further details on the KCB revised proposal to stakeholders at the appropriate time.
