Chairman of the Imperial Bank board Alnashir Popat on Tuesday shed tears during the bank's shareholders meeting in Nairobi.
The bank's managers accused the Central Bank of Kenya (CBK) of remaining silent on the institution's recovery plan after it was put under receivership in October last year.
In his address, Mr Popat said that their attempts to communicate to CBK over its plans to revive Imperial Bank were fruitless.
Papot said the bank's board gave CBK and Kenya Deposit Insurance Corporation (KDCI) a comprehensive recovery plan on October 29, but the two institutions failed to respond.
“Regrettably, there has been no formal response nor the presentation of an alternative solution for the bank from CBK or KDCI,” he said.
Overwhelmed by emotions, Popat assured depositors that their money would be refunded.
Video courtesy of K24
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