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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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The I&M Bank Board Chairman, Mr. Suleiman Kiggundu has said, the Bank has a plan in motion to list on Uganda Securities Exchange, a move that is set to boost Uganda’s stock market since the listing of the two major telecoms in the last three years. “We hope to list in Uganda soon, we have listed in Rwanda and Kenya,” Mr Kiggundu said, while presenting his celebratory remarks at I&M Bank’s 50th anniversary celebrations at Serena Hotel Conference Centre in Kampala. The listing is set to change market dynamics in the banking industry with I&M Bank being the first bank to…
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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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On 8th November 2021, Orient Bank rebranded to I&M Bank Uganda following the completion of the acquisition of 90 per cent shareholding of the Orient Bank by I&M Group Plc. I&M Bank Uganda builds on a foundation and legacy of trust acquired over the last 28 years and most importantly now taps 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 December 2021. I&M Group currently operates in 5 countries- Kenya, Tanzania, Rwanda, Uganda and Mauritius as Bank One- a joint venture between I&M Group Plc and…
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I&M Group PLC officially launched its rebranded operations in Uganda today, following its acquisition of Uganda’s Orient Bank Ltd on 30th April 2021. The Ugandan bank will now operate as I&M Bank (Uganda) Limited and adopt the Group’s vibrant corporate logo and colours. The Nairobi-based financial Group announced that the rebrand comes after the I&M Group’s successful acquisition of a 90 per cent shareholding in Uganda’s Orient Bank Ltd earlier this year. This received regulatory approval from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya as well as the Common Market for Eastern and Southern…
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After finalisation of the share acquisition transaction, I&M Group has announced plans to rebrand its newly acquired business in Uganda, Orient Bank Ltd to I&M Bank (Uganda) Limited. I&M Group PLC’s acquisition of 90% shareholding in Uganda’s Orient Bank Ltd (OBL) forms part of its broader regional expansion plan towards its ambition of becoming Eastern Africa’s leading financial partner for growth. Orient Bank Chairman, Mr. Suleiman Kiggundu has promised a seamless and efficient transition as I&M Bank officially enters the Ugandan financial services market with “innovative services and reliable financial solutions.” PHOTO/Courtesy According to Kumaran Pather, the Managing Director / CEO of Orient Bank Limited,…
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