Bank of Zambia begins process for failed Investrust customers to access funds by July 15

The Bank of Zambia (BoZ) has initiated processes for customers of the failed Investrust Bank Plc to access their money.

A Statement of Affairs on Investrust Bank Plc (In Possession) confirmed that the financial institution had a capital deficiency of K853.7 million, insufficient to meet the required minimum capital for a local bank.

Additionally, the extent of the bank’s insolvency was assessed to be K749.7 million.

This assessment followed the conclusion of the statement on July 1, 2024, by the Bank of Zambia, which was approved by its Board of Directors.

Read more: BoZ begins payments to depositors of failed Investrust Bank, terminates interests of all shareholders

In the meantime, BoZ had started the necessary processes to implement the plan for depositors to access their funds by July 15, 2024.

“At the same meeting, the Bank of Zambia Board of Directors also approved a resolution plan for Investrust Bank Plc (In Possession), which will be made known to the public as soon as all the modalities are finalized,” stated the notice from BoZ.

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