KAMPALA — I&M Bank Uganda has moved their head office to Kingdom Kampala Mall on Nile Avenue effectively May 2.
In a notice to clients, the bank said the new location will serve as an Executive Office, Corporate banking products and channels, treasury, credit, legal, marketing and corporate communication and compliance.
“Dear customers, this is to inform you that to serve better, we have relocated our head office to Kingdom Kampala Mall located on plot 13A-35A, 37A-39A on Nile Avenue, Kampala effective Tuesday May 2, 2023” reads an internal circular to clients.
I&M Holdings Plc signed an agreement in July 2020 to acquire 90 percent shareholding of Orient Bank from 8 Miles and other sellers, including the founders.
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.
I&M Holdings PLC is a regional banking and financial services group with a presence in Kenya, Tanzania, Rwanda, Mauritius and now Uganda. Listed on the Nairobi Securities Exchange with a market capitalization of KES 37.5 billion, it is regulated by the Capital Markets Authority as well as by the Central Bank of Kenya as a non-operating holding company.
Through the acquisition, I&M Group has acquired additional net loan assets value of approximately Shs262 billion, deposits of Shs606 billion, a customer base of 68787, a staff component of 340 employees and a network of 14 branches and 22 ATMs across the country. A clear plan for the integration of OBL into the I&M Group has been developed and the Group expects to gain considerable business and operational synergies.
