I&M Holdings completes acquisition of Orient Bank, promises seamless regional access and superior services In a joint statement, I&M Holdings PLC and Orient Bank Limited say the acquisition will allow existing and potential customers of both banks to benefit from more seamless and superior banking services in the 5 countries that I&M has a presence. The duo also said an integration plan has been finalised.

I&M Holdings PLC has announced the majority acquisition of Orient Bank Limited (OBL) from 8 miles LLP and Morka Holdings Limited. OBL is the 12th largest commercial bank licensed and established in Uganda. I&M Holdings PLC and Orient Bank Limited signed an agreement in July 2020 for I&M Holdings PLC to acquire 90 percent shareholding of Orient Bank. The acquisition was completed on 30th April 2021 after receiving the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the COMESA Competition Authority. In a joint media statement, I&M Group said the acquisition…