I&M Bank was founded in 1974 as a financial services company and later converted to a commercial bank.
I&M Bank is a wholly-owned subsidiary of I&M Group PLC (previously known as I&M Holdings PLC), a public company, listed at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking. Having started in 1974, it evolved from a community financial institution to a publicly listed major regional commercial bank offering a full range of corporate and retail banking services.
From June 2013, I&M Bank shares are publicly traded in the Nairobi Stock Exchange through the acquisition of its entire shareholding by I&M Group Plc (previously known as I&M Holdings PLC), a publicly listed company.
I&M Bank is a dominant player in the Kenyan market that has been consistently growing, leveraging its enhanced digital and IT capabilities to position the Bank as a leader among its peers.
British International Investment, a development finance institution wholly owned by the government of the United Kingdom owns approximately 10.68% of I&M Group Plc, the holding company of I&M Bank Ltd. In addition, I&M Bank has a technical support agreement with International Finance Corporation for staff training, product development and risk management. I&M Bank also enjoys medium-term foreign currency credit facilities from various Development Financial Institutions – Proparco, IFC, DEG and responsibility.
I&M Bank’s international correspondent banks include major multinational banks such as Bank One Ltd, Citibank NA, Commerzbank AG, Deutsche Bank AG, ICICI Limited Mumbai, Mashreq Bank PLC, Standard Bank of South Africa and Standard Chartered Bank NY.
I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank (T) Limited, Tanzania and I&M Bank (Rwanda) Plc, Rwanda and I&M Bank Uganda Ltd.
I&M Group
I&M Group Plc operates in five countries – Kenya, Tanzania, Rwanda, Uganda and Mauritius through its subsidiaries, affiliates and joint venture investments in each of these countries. Approximately 80% of I&M Holdings Plc’s asset value stems from our Kenyan operations with the largest entity by asset value being I&M Bank LIMITED.
The Group has a major presence in Banking and Insurance, Manufacturing and Real Estate.
In Tanzania and Rwanda the Group is represented by its Banking Subsidiaries, I&M Bank (T) Limited, Tanzania and I&M Bank (Rwanda) Plc respectively, while in Uganda its representation is through I&M Burbidge Capital (U) Limited a subsidiary of I&M Burbidge Capital Limited a corporate finance advisory arm of the Group.
I&M Group also has 50% shareholding in Bank One Limited, Mauritius. An acquisition made jointly with the CIEL Finance of Mauritius, which is one of the largest and most reputable business groups in Mauritius. Bank One, with its customer base of over 50,000, a branch network of 9 branches in Mauritius, and a staff complement of over400 is a fast growing commercial bank in Mauritius.
Other Group related companies include GA Insurance Company – popularly known as GA. GA is one of the oldest insurance companies operating in Kenya specializing in all classes of general insurance. Having its parentage from General Accident UK, it was incorporated as Kenyan Insurance Company in 1979. Enjoying its presence over 50 years, GA has earned its standing as one of the reputable insurance companies in Kenya.
Additional Info
Address | Sabaki Centre Ground Floor Lamu Road, Malindi, Kenya |
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