Melo News | Friday, April 12, 2024 | Lusaka
Investrust Bank PLC was taken over by the Bank of Zambia on April 2, 2024, due to the failure of its shareholders to address its insolvency issues.
Bank of Zambia Governor Denny Kalyalya, speaking to the press in Lusaka, announced that the initial payments for Investrust Bank PLC depositors will be made on April 26, 2024.
Dr. Kalyalya mentioned that the first round of payments will cover 90 percent of all deposits, up to a maximum of K500,000, with further guidance on the remaining balance to be provided to depositors in the coming days leading up to the payment date.
Additionally, it was revealed that the government will extend fiscal support of K1 billion to assist in addressing the bank’s insolvency, which amounts to over K850 million.
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