The growth and evolution of 24/7 banking such as internet and mobile banking is now a reality. There is however a big chunk of the economy that is still cash-based. According to the Bank of Uganda, the number of internet-based fund transfers grew by 51.6% from UGX46.7 million in 2021 to UGX70.8 million transactions in 2022. The value of money moved via Internet banking nearly tripled, growing from UGX4.5 trillion to 12.5 trillion, a whopping 176% growth. Mobile banking (excluding mobile money) users also jumped from 1.4 million to 1.7 million and the number of transactions also grew from 25.3…
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The Board of Directors of I&M Bank (Uganda) Limited has announced the appointment of Mr. Robin Bairstow as the Chief Executive Officer (CEO) effective August 2023. The appointment is subject to Bank of Uganda approval. “With an extensive record in the financial services sector, Bairstow’s appointment underscores I&M Bank’s commitment to delivering excellence and growth across its regional operations,” the company said in a public statement. “Bairstow brings a wealth of experience to his new role and knows the Group well, having served as the CEO of I&M Bank (Rwanda) Plc from September 2015 to June 2023. During his tenure,…
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This year, Bukoola Chemical Industries, a leading indigenous manufacturer and distributor of agrochemicals, fertilisers, and industrial chemicals in Uganda, marks its 50th anniversary⏤ a significant milestone, by all means, in a country where most businesses hardly live to see their 5th birthday.Founded in 1973 by Dr. Paul Mawanda Kyabaggu, Bukoola Chemical Industries is one of the oldest and largest agrochemical distributing companies in Uganda. The company is known for top-quality products and customer-based services in the range of exceptional insecticides, fungicides, bactericides, immune boosters, fertilisers and anti-stress chemicals and a number of selective and non-selective herbicides. It has established itself…
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On Thursday, May 18, 2023, I&M Bank Uganda, in collaboration with the ACI- Financial Markets Association of Uganda, hosted a successful Treasurer’s Forum at the I&M Bank Head Office, at Kingdom Kampala. The Treasurer’s Forum, which serves as the constituent technical arm of the Uganda Banker’s Association on Financial Markets-related matters, brought together Heads of Department for the Treasury/Global Markets function of commercial banks in the country. Held once every month, the Treasurer’s forum recognises that a well-functioning financial market is crucial to the growth of the Ugandan economy, and the overall financial services sector. The main objective of the…
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I&M Bank Uganda has moved its head office to the modern and swanky Kingdom Kampala building. In the customer notice posted on the bank’s social channels, the bank said: “We have relocated our Head Office to Kingdom Kampala mall located on Plot 31A-35A, 37A-39A on Nile Avenue, Kampala effective Tuesday, May 2, 2023. The functions that will be at the new location are; the executive office, corporate banking, products & channels, treasury, credit, legal, marketing & corporate communications, and compliance.” “For further information and clarification regarding this relocation, call 0800144551 (Toll-free) or email: customerservice@imbank.co.ug,” the bank further advised its stakeholders. …
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Committed to making a positive and measurable impact on the communities in which it operates, the Muslim community at I&M Bank Uganda, with the support of I&M Bank Uganda reached out to Alwaasi Charity to support their mission of empowering and uplifting vulnerable communities in Bweyogerere, Kakajjo. Annette Nakiyaga, the Head of Marketing and Corporate Affairs at I&M Bank said the bank is committed to making the different communities they operate in a better place for everyone. “We are determined to make a difference in the different communities we operate in, And for this particular cause I&M Bank team has…
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I&M Group PLC has recorded KES 11.6 billion (USD87.8 million) in profit after tax for the full year ending December 2022; a 34% increase in profitability from KES 8.6 billion (USD65.1 million) reported during a similar period in 2021. In results announced on 29th March 2023, I&M Group PLC attributed this impressive growth to the successful implementation of its iMara 2.0 strategy, which is now in its 3rd and final year, focusing on business growth, operational efficiencies, customer service centricity and digital transformation. As a result of the strong performance, the Board has proposed a total dividend of KES 2.25…
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The Rotary Club of Kyadondo in partnership with I&M Bank on Thursday, March 16 organised a fundraiser dubbed “Help a Child Stay in School” at Uganda Golf Club. Proceeds from the fundraiser will go towards renovating Naigobya Primary School in Luuka District. The school is in dire need of repair, and the funds raised will help to provide a conducive learning environment for the children and facilitate the construction of an early child development centre at the same school. Featuring a one-day tournament, the fundraiser attracted many corporate teams with golfers from all walks of life teeing off as early…
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The I&M Bank Uganda branch at Kingdom Kampala is a 2-in-1 branch with a Corporate Banking centre and a Select Banking branch. The Corporate Banking centre is spacious and designed for comfort and personalised service. For corporate customers, the I&M Select Banking Service centre offers specialised financial advisory services by I&M Burbidge Capital (IMBC), the investment banking arm of I&M Group. The futuristic Kingdom Kampala Branch has been designed to reflect the bank’s digitisation agenda and dedicates more space and time for consultations, and advisory services, while more and more of the transactional services like deposits and withdrawals for both…
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I&M Bank Uganda, formerly Orient Bank, is set to officially launch at its Kingdom Kampala branch, a one-of-a-kind service that enhances its digital offering and caters to changing customer needs. Tailored for both high-net-worth individuals and corporate clients, the new branch hosts the I&M Select Banking suite, a Corporate Banking Centre and a 24-hour ATM. The branch shall also have a 24/7 digital self-service hub known as the I&M Digital Pod, which will give the clients a chance to experience what a fully independent digital bank can offer. Annette Nakiyaga, the bank’s Head of Marketing and Corporate Affairs said the latest…
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