Imperial Bank to pay stiff interest on its bond issue

Second-tier Imperial Bank will pay a stiff 15 per cent interest on its Sh2 billion bond as it seeks to raise cash to shore up capital to meet statutory ratios and grow business.

The bank associated with the wealthy Popat Family has seen its ratio of total capital to total assets constrained because of the new rules that increased the statutory requirement to 14.5 per cent from January this year.