Written By Mary Mumbua 📝
Following a successful recovery process and asset sale, the Kenya Deposit Insurance Corporation (KDIC) has announced payments to depositors and creditors of three institutions: Euro Bank Ltd, Kenya Finance Bank Ltd, and Dubai Bank Ltd.
Speaking to the press at the KDIC offices, Corporation Chief Executive Officer Mr. Mohamud Ahmed stated that they will be distributing over 200 million shillings which will translate to 97% cumulative payments to claimants of Euro Bank, who will have fully paid, 93% for Kenya Finance Bank and 92% for Dubai Bank.
Depositors and creditors of these three banks will be notified on how to claim their deposits through notices published in print media and on KDIC platforms on Wednesday, 30 March.
The payments will be made over the course of a year from the date they are declared.
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