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Now Imperial Bank under receivership for 12 months
smitha
#161 Posted : Monday, October 26, 2015 9:57:59 AM
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Joined: 6/10/2013
Posts: 52
I hear rumours that DTB is taking over Imperial Bank's Uganda subsidiary. If rumour confirmed, a positive sign for the Kenyan parent to be operational soon, very likely under DTB as well.
Ericsson
#162 Posted : Monday, October 26, 2015 10:05:06 AM
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Location: NAIROBI
Both Kenyan and Ugandan operations will be acquired by existing banks.
Kenya DTB or I&M seems the most likely candidates because of the Asian roots common in them
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Bigchick
#163 Posted : Monday, October 26, 2015 11:10:05 PM
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Joined: 2/8/2013
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Location: At Large.
My source tells me that Imperial will be back in about 1 month from now as Imperial not under any other bank.The behind the scenes happenings is talking to large depositors not to withdraw their cash when the bank is back.The directors must also place 10B on the table.

The repercussions of failure to reopen are too bad especially for small banks and especially "Muindi" banks.
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Boris Boyka
#164 Posted : Monday, October 26, 2015 11:46:09 PM
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Bigchick wrote:
My source tells me that Imperial will be back in about 1 month from now as Imperial not under any other bank.The behind the scenes happenings is talking to large depositors not to withdraw their cash when the bank is back.The directors must also place 10B on the table.

The repercussions of failure to reopen are too bad especially for small banks and especially "Muindi" banks.

And banking sector in general in these trying moments of high interest and bad economy. My source had same information too. Imperial Must open to boost comfidence in financial sector and release tension.
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obiero
#165 Posted : Tuesday, October 27, 2015 7:13:56 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
Boris Boyka wrote:
Bigchick wrote:
My source tells me that Imperial will be back in about 1 month from now as Imperial not under any other bank.The behind the scenes happenings is talking to large depositors not to withdraw their cash when the bank is back.The directors must also place 10B on the table.

The repercussions of failure to reopen are too bad especially for small banks and especially "Muindi" banks.

And banking sector in general in these trying moments of high interest and bad economy. My source had same information too. Imperial Must open to boost comfidence in financial sector and release tension.

Even if it reopens and 'large' depositors do not withdraw, there will still be a bank run. Plus their largest depositor only has kes 150m, a laughable amount

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KulaRaha
#166 Posted : Tuesday, October 27, 2015 4:04:55 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
https://bizextras.wordpr...ber-directors-indicate/

Beleaguered financial services firm Imperial Bank of Kenya has moved to court to claim Sh34 billion stolen from its coffers. The bank through lawyer George Oraro is demanding the money obtain fraudulently by the respondents.
In the court papers, Oraro accuses the 20 individuals and companies for colluding with deceased Imperial Bank managing director Abdulmalek JanMohammed to siphon the money. Some of the firms and individuals include the following
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murchr
#167 Posted : Tuesday, October 27, 2015 10:21:23 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
W.E Tilley Muthaiga limited, which enjoys exclusive export market business for Tanzania’s fish processor, prime catch and is listed among the beneficiaries of a scam allegedly

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kollabo
#168 Posted : Tuesday, October 27, 2015 10:40:16 PM
Rank: Veteran

Joined: 2/3/2012
Posts: 1,317
OK so they have returned the money. What happens next?

Any charges being drawn up?
innairobi
#169 Posted : Tuesday, October 27, 2015 10:50:52 PM
Rank: Member

Joined: 9/2/2010
Posts: 845
all those companies listed seem to be associated with the Jessa family. they together with the late MD sucked the bank crazy.

a single family stealing 34 Billion is shocking. but what is even more shocking is that the company was able to wire back 10B almost instantly, presumably without affecting its operations.

there are less than 100 businesses in Kenya that turnover more than 10B per year let alone having 10B in cash sitting somewhere waiting to be wired.
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mawinder
#170 Posted : Wednesday, October 28, 2015 2:33:53 AM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
innairobi wrote:
all those companies listed seem to be associated with the Jessa family. they together with the late MD sucked the bank crazy.

a single family stealing 34 Billion is shocking. but what is even more shocking is that the company was able to wire back 10B almost instantly, presumably without affecting its operations.

there are less than 100 businesses in Kenya that turnover more than 10B per year let alone having 10B in cash sitting somewhere waiting to be wired.

Seems you don't understand WE TILLEY. Read Charterhouse Bank, Money Laundering etc. It is associated with one......
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