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GAZETTE NOTICE NO. 3694

THE BANKING ACT

(Cap. 488)

TRANSFER

IT IS notified for information of the general public that pursuant to section 9 (5) of the Banking Act— (a) the Board of Directors of the Kenya Deposit Insurance Corporation [Receiver of Imperial Bank Limited (In- Receivership)], in accordance with section 50 of the Kenya Deposit Insurance Act, 2012 and vide a resolution passed on the 28th August, 2019, approved the transfer of certain assets and assumption of certain liabilities of Imperial Bank Limited (In-Receivership) to KCB Bank Kenya Limited, in terms of the agreement dated 23rd January, 2020; (b) the shareholders of KCB Bank Kenya Limited vide a resolution passed on the 23rd January, 2020, approved the acquisition of certain assets and assumption of certain liabilities of Imperial Bank Limited (In-Receivership) in terms of the agreement dated 23rd January, 2020; (c) in exercise of the powers conferred by section 9 (1) of the Banking Act, the Cabinet Secretary for the National Treasury and Planning on the 14th May, 2020 approved the transfer of certain assets and liabilities of Imperial Bank Limited (In Receivership) to KCB Bank Kenya Limited; (d) the acquisition shall take effect on the 2nd June, 2020. Dated the 19th May, 2020. PATRICK NJOROGE, Governor, Central Bank of Kenya.

Dated the 19th May, 2020.

PATRICK NJOROGE,

Governor, Central Bank of Kenya.

Extracted Entities (1)

previous_gazette_ref

3694

Details

Act / Legislation: THE BANKING ACT
Reference: Cap. 488
Section: section 9 (5)
Signed By: PATRICK NJOROGE
Title: Governor, Central Bank of Kenya
Date Signed: 19th May 2020
Page: 27
Extraction Method: regex

Source Gazette

Vol. CXXII No. 94

Published 1st January 2020