Customer deposits worth Sh13.7 billion are still held up in some Moi-era banks that went bust up to three decades ago, a new International Monetary Fund (IMF) report has shown, underscoring the high cost of liquidating banks and selling off assets to settle liabilities.
According to the IMF report, the 17 banks, 14 of which were liquidated between 1994 and 2003, were holding assets worth Sh84.6 billion, which includes unpaid loans and properties that could be actively generating returns in the market.
