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The benefits of Orient Bank’s acquisition and subsequent rebranding to I&M Bank Uganda and thereafter integration into the larger I&M Group Plc are unfolding with the bank’s release of its first full year under the I&M brand. In results released today, the bank reported an 8.9% jump in customer deposits from UGX573.7 billion to UGX624.6 billion in 2022, reversing a 2-year declining trend in which deposits reduced from an all-time high of UGX673.5 billion in 2019 to UGX573.7 billion in 2021. Riding on a boost in customer deposits, the bank drove a 19% jump in lending⏤ from UGX196.8 billion to…
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Orient Bank’s 28-year legacy meets I&M Group’s 48-year regional experience and financial strength I&M Bank Uganda builds on 28 years’ uninterrupted legacy of Orient Bank based on trust and personalized banking. This legacy fuses into I&M Group Plc’s 48-year legacy that has seen the group rise to over USD3.6 billion (UGX12.5 trillion) in assets as of 31st December 2021. I&M Group Plc is listed on the Nairobi Securities Exchange (NSE) and has subsidiaries in five countries- Kenya, Tanzania, Rwanda, Mauritius and now Uganda. The group aspires to be ‘Eastern Africa’s Leading Financial Partner for Growth’. Therefore, I&M Bank Uganda is…
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Orient Bank Limited, has announced the appointment of three members to its Board of Directors. The new members joining are Mr. Suleiman I. Kiggundu, Jr who now becomes an Independent Non-Executive Chairman; Mr. Bhartesh Shah and Mr. Allan Christopher Michael Low, both Non-Executive Directors. Kiggundu replaces Mr. Michael Cook who has served on the Board for 15 years. As Chairman, he will be “responsible for leading the Board of Directors in fulfilling the Board’s responsibilities laid out in the Board’s Charter, Orient Bank’s Articles & Memorandum of Association and prevailing regulatory requirements in a manner that promotes profitability, growth, safety,…
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