Judge faults bank for sacking staff over unverified loan collaterals

Consolidated Bank head office on Koinange Street in Nairobi on November 28, 2016.

Photo credit: File | Nation Media Group

The Employment and Labour Relations Court has faulted Consolidated Bank of Kenya for the unfair dismissal of one of its business development officers over allegations of improper loan approvals totalling Sh102 million.

Justice Monica Mbaru stated that it was improper for the bank to hold Emmanuel Wambua responsible for a non-verified asset used to secure the debt, noting further inconsistencies in the lender’s actions.

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