The Bank of Zambia (BoZ) has announced that it has initiated the necessary processes to implement the plan for Investrust dispositors to have access to their money by 15 July, 2024.
This follows the completion of the Statement of Affairs for Investrust Bank PLC that was approved by the Central Bank.
BoZ Assistant Director Communications, Besnat Mwanza, says the statement of Affairs confirms that as at April, 2 , 2023, Investrust Bank was indeed insolvent.
“The insolvency was assessed to be K749.7 Million, resulting in the deficiency of K853.7 Million to satisfy the required minimum capital for a local bank,” said Ms. Mwanza in a statement issued to RCV News in Lusaka today.
She revealed that at the same meeting, Bank of Zambia Board of Directors also approved a resolution plan for Investrust bank which will be made known to the Public as soon as all the modalities are finalised.
By Angel Kasabo
