Looking for Imperial Bank Kenya? Imperial Bank no longer exists. The bank collapsed in October 2015 after massive fraud was discovered, and was officially liquidated in 2021. Here’s what happened and what you can do if you’re still owed money.
🚨 Imperial Bank Has Collapsed
Imperial Bank was placed under receivership by the Central Bank of Kenya on October 13, 2015. The bank’s license was revoked after the discovery of over KES 34 billion ($380 million) in fraudulent loans and transactions orchestrated by the bank’s founder and directors.
What Happened to Imperial Bank?
Imperial Bank was one of Kenya’s mid-tier commercial banks until its dramatic collapse in 2015. Here’s the timeline:
Timeline of the Collapse
- October 2015: CBK places Imperial Bank under receivership after discovering massive insider fraud
- The Fraud: Founder Abdulmalek Janmohamed and directors secretly funneled KES 34+ billion through fake loans and unauthorized transactions
- 2016: Some assets transferred to KCB Bank; depositors with under KES 1 million received partial access
- 2017: Criminal charges filed against bank directors
- 2021: Kenya Deposit Insurance Corporation (KDIC) takes over for final liquidation
- 2022-2024: Continued payouts to depositors from recovered assets
What Happened to Imperial Bank Customers?
Good News: Most Depositors Got Their Money Back
About 92% of Imperial Bank depositors have received full payouts. The Kenya Deposit Insurance Corporation (KDIC) guarantees deposits up to KES 500,000 per depositor, and most Imperial Bank customers fell under this threshold.
If your deposit was under KES 500,000, you should have already received your full balance. If not, contact KDIC immediately.
For Larger Depositors
Depositors with balances above KES 500,000 have received partial payouts from liquidation proceeds. The process is ongoing, with additional dividends paid as assets are recovered and sold.
Still Owed Money? What to Do Now
If you believe you’re still owed money from Imperial Bank:
- Contact KDIC directly: They are handling all remaining claims
- Gather your documents: Bank statements, account numbers, ID documents
- Submit a claim: Even if you missed earlier deadlines, contact KDIC to check if you can still claim
KDIC Contact Information
Kenya Deposit Insurance Corporation
P.O. Box 45983-00100, Nairobi
Phone: +254 20 286 4000
Email: [email protected]
Website: kdic.go.ke
Lessons for Kenyan Bank Customers
The Imperial Bank collapse taught Kenyans several important lessons about banking safety:
- Spread your deposits: Don’t keep more than KES 500,000 in any single bank (the KDIC insurance limit)
- Watch for warning signs: Unusually high interest rates or aggressive sales tactics can indicate problems
- Stick with Tier 1 banks: Larger banks like KCB, Equity, and Standard Chartered have stronger oversight
- Check CBK publications: The Central Bank of Kenya publishes bank supervision reports
Looking for a New Bank?
If you’re a former Imperial Bank customer looking for a new banking home, check out our guides to Kenya’s major banks:
- Kenyan Banks Complete Guide – All major banks compared
- KCB Bank Kenya – Kenya’s largest bank (received some Imperial Bank assets)
- Equity Bank Kenya – Largest by customer base
- Co-operative Bank Kenya – Member-owned banking
Does Imperial Bank Kenya still exist?
No. Imperial Bank collapsed in October 2015 and was officially liquidated in 2021. The Kenya Deposit Insurance Corporation (KDIC) is handling remaining claims.
What happened to Imperial Bank Kenya deposits?
About 92% of depositors received full payouts. Those with under KES 500,000 were covered by KDIC insurance. Larger depositors have received partial payouts from asset liquidation.
Can I still claim money from Imperial Bank?
Contact KDIC at +254 20 286 4000 or [email protected]. Bring your original account documents and ID. Late claims may still be considered on a case-by-case basis.
Why did Imperial Bank collapse?
The bank collapsed due to massive fraud. Founder Abdulmalek Janmohamed and directors secretly funneled over KES 34 billion through fake loans and unauthorized transactions.
Who took over Imperial Bank?
The Central Bank of Kenya placed Imperial Bank under receivership in 2015. Some assets were transferred to KCB Bank. KDIC took over final liquidation in 2021.
Last Updated on November 30, 2025
URL: https://log-in.me/imperial-bank-kenya-collapse/