Wednesday, January 19, 2005

CBK to liquidate Prudential Society

CBK Governor, Andrew Mullei, said the society lacked tangible financial commitment to recapitalise. He said available funds would be distributed to depositors and other creditors of the society without further delay in order to save costs and maximise benefits to the depositors and other creditors. PBS owes, among other depositors, the National Social Security Fund (NSSF) Sh1.9 billion which accounts for 95 per cent of the bank’s deposits.

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