I&M Bank which officially launched its rebranded operations in Uganda last year in April following its acquisition of Orient Bank has moved its headquarters to Kingdom Kampala on Nile Avenue, a magnificent mall owned by tycoon Sudhir Ruparelia.
The Bank announced that the operations at its head office will kick off today May 2.
“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 a memo.
The memo clarified that the functions at the new location are; Executive Office, Corporate banking products and channels, treasury, credit, legal, marketing and corporate communication and compliance.
“All the other functions will remain at Plot 6/6A, Kampala Road. Thank you for choosing l&M Bank. We are on your side. If you require any clarification regarding this relocation please contact us on the Tollfree line — 0800144551 or email: customerservicepimbank.co.ug.”
The management explained it’s decision to relocate to Kingdom Kampala saying the building is strategically located and is easily accessed from all corners in the city.
I&M bank entered Uganda after acquiring majority shares of former Orient bankfrom 8 miles LLP and Morka Holdings Limited.
The acquisition process was completed on April 30, 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.
Through the acquisition, I&M Group has acquired additional net loan assets value of approximately shs. 262 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.
I&M Holdings Limited which owns I&M Bank Group, is a conglomerate comprising banks, an insurance company and investment advisory businesses. The group’s headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Mauritius, Rwanda, Tanzania and Uganda.