I&M Bank Uganda has crossed a historic milestone. For the first time, the Bank’s assets have exceeded the UGX 1 trillion mark, closing at UGX 1.1 trillion at the end…
Speaking at the Friday, 28 June 2024 anniversary gala to market the I&M Group Plc’s 50th anniversary, held at the Kampala Serena Hotel, a confident Suleiman Kiggundu, the Board Chairman spoke of the financial Group’s great legacy and how I&M Bank Uganda has built on this legacy to lay a strong foundation in Uganda. He underlined the roles played by the visionary founders, dedicated employees, amazing loyal customers, and supportive partners who in one way or another supported the bank’s “firm commitment to excellence” that “has propelled us to stay ahead of the curve, delivering exceptional value to our stakeholders…
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As the I&M Group celebrates 50 years of building this strong foundation and looks forward to the future with optimism, Dr. Ketan Morjaria, who is also a shareholder and Director at I&M Bank Uganda recounts the bank’s past and shares key insights on how the bank is investing and evolving into a reputable and vibrant player in Uganda’s financial services industry. What inspired you to start Orient Bank⏤ there were many other ways you could have invested. What was your vision at the time? What did you want to achieve? In the 1990’s I was involved in the trading business…
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In an interview with Muhereza Kyamutetera, the CEO East Africa Magazine’s Executive Editor, Robin Bairstow, the I&M Bank Uganda Chief Executive Officer, confirms that two and a half years later, these promises have been delivered, creating a solid foundation on which a vibrant and digital-first sturdy future is being built. Q: For starters, for those who don’t know you well, talk about yourself and your management style. A: I am a banking executive with three decades of experience across three continents. I’ve been able to mix and immerse myself in several diverse cultures, which has always been something that I’ve…
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On Friday, May 31st, I&M Bank hosted two community-oriented health drives as part of their Corporate Social Responsibility (CSR) efforts. The drives are part of a streak of CSR initiatives the bank intends to engage in as lead up to the I&M@50 (Golden Jubilee) celebrations, set for June 28. At Kingdom Kampala, the I&M Bank main offices, the bank partnered with Wazi Vision, who conducted a complimentary eye check-up for the general public. The initiative aimed to provide free eye examinations and raise awareness about eye health among the community. I&M Bank CEO Robin Bairstow and the bank’s Executive Director, Sam Ntulume,…
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I&M Bank Uganda has released its 2023 annual performance results showing accelerated growth and profitability since the I&M Group Plc acquired the former Orient Bank in 2021. I&M Group Plc acquired Orient Bank Ltd on 30th April 2021 and fully rebranded it into I&M Bank (Uganda) Limited in November 2021. Since the acquisition, I&M Group Plc one of Eastern Africa’s leading banking and insurance groups, has invested over UGX108 billion in recapitalising the bank. The Group has llso invested USD9 million (UGX34 billion) into the digitisation of its systems and platforms headlined by an upgrade to a Finacle Core Banking…
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First of all, what is estate planning? Estate planning encompasses determining how your assets Will be preserved, managed, and distributed after your death or if you become incapacitated. Every family business needs to undertake succession and estate planning to ensure their businesses Will survive from one generation to the next. What Does Estate Planning Involve? In East Africa estate planning is most often done through making Wills and /or setting up a Trust(s). A Will is a written legal document detailing, amongst others, a testator’s wishes of what should happen after his/her death, listing the assets they own, and how they…
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To ensure business stability and continuity in the event of the death of the founder as well as preserve intergenerational wealth, business owners/founders have been urged to prioritise estate planning. Estate planning, according to Sim Katende, Corporate & Commercial lawyer and Partner at Katende, Ssempebwa & Co. Advocates, Solicitors & Legal Consultants (KATs), “encompasses determining how your assets will be preserved, managed, and distributed after your death or if you become incapacitated”. “Every family business needs to undertake succession and estate planning to ensure their businesses Will survive from one generation to the next,” Sim Katende told stakeholders at a…
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I&M Group PLC has recorded a Profit After Tax of KES 13.3 billion (approximately UGX390 billion; over USD101 million) for the year ended 31st December 2023. This is a 15% increase from the KES11.6 billion in 2022. The regional financial services provider with operations in Kenya, Rwanda, Tanzania, Uganda and Mauritius, attributed the 15% growth in its profits to an increase in its operating income. During the period under review, the Group’s balance sheet and income metrics improved with the liquidity and capital ratios remaining strong. 2023 Balance sheet highlights The Group’s balance sheet grew steadily with Total Assets…
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I&M Bank Uganda has announced its strategic partnership with Mastercard, a global leader in digital payments and technology. The collaboration aims to revolutionize the banking experience for customers by driving digital transformation and enhancing payment security through cutting-edge digital payment solutions. The bank launched a range of new I&M Bank Mastercard cards to the market, including the I&M Bank Standard Debit Mastercard, I&M Bank World Debit Mastercard, and I&M Bank World Elite Debit Card, which will offer enhanced features and functionality that will greatly transform the customers’ experience and how they manage their finances and make payments. Recognizing the increasing importance…
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