I&M Bank was founded in 1974 as a financial services company and later converted to a commercial bank.

I&M Bank

I&M Bank is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the  Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking.  Started in 1974, it evolved from a community financial institution to a publicly listed major regional commercial bank offering a full range of corporate and retail banking services.

From June 2013, I&M Bank shares are publicly traded  in the Nairobi Stock Exchange through the acquisition of its entire shareholding by I&M Holdings Ltd, a publicly listed company.

I&M Bank is a dominant player in the Kenyan market that has been consistently growing, and is innovative in terms of the type and range of products and services it offers.

CDC Group plc, a development finance institution wholly owned by the government of the United Kingdom owns approximately 10.68% of I&M Holdings,  the holding company of I&M Bank Ltd. In addition, I&M Bank has a technical support agreement with International Finance Corporation for staff training, product development and risk management. I&M Bank also enjoys medium term foreign currency credit facilities from European Development Financial Institutions – Proparco, IFC, DEG and FMO.

I&M Bank’s international correspondent banks include major multinational banks such as Bank One Ltd, Citibank NA, CommerzBank AG, Deutsche Bank AG,  ICICI Limited Mumbai, Mashreq Bank PLC, Standard Bank of South Africa and Standard Chartered Bank NY.

I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank Tanzania Limited and I&M Bank Rwanda Limited.

I&M Group
I&M Bank Limited is also the flagship company of the I&M Group of Companies a leading corporate group in East Africa. The Group has a major presence in Banking and Insurance, Manufacturing and Real Estate. Apart from the Bank, the Group’s related companies include GA Insurance Company – popularly known as GA. GA is one of the oldest insurance companies operating in Kenya specialising in all classes of general insurance. Having its parentage from General Accident UK, it was incorporated as Kenyan Insurance Company in 1979. Enjoying its presence over 50 years, GA has earned its standing as one of the reputable insurance companies in Kenya.

I&M Bank also owns 50% of a bank in Mauritius – Bank One Limited an acquisition made jointly with the CIEL group of Mauritius, which is one of the largest and most reputable business groups in Mauritius. Bank One, with its customer base of over 50,000, a branch network of 15 branches in Mauritius, and a staff complement of 300  is a fast growing commercial bank in Mauritius.

  • 1974

    Investments & Mortgages Limited was formed and was based in Phoenix House. "I&M" as it was known, provided a much needed personalised financial service for Nairobi's business community.

  • 1980

    Formally registered as a Financial Institution under Banking Act and moved offices to Investment House, Kenyatta Avenue.

  • 1996

    Following changes in the Central Bank of Kenya regulation, I&M formally converted into a commercial bank on 1st April 1996. This change coincided with a move to a more modern setting on Koinange Street.

  • 1999

    I&M was in the process of a major restructuring exercise in 1999 to coincide with completion of 25 years of "I&M" name. The changes were initiated by the launch of a small, but important change - a new logo. This was intended to highlight I&M's evolution from a finance company into a commercial bank. I&M’s head offices were relocated to the prestigious I&M Bank House on 2nd Ngong Avenue, Nairobi-Kenya. This modern, spacious building was been designed and built to fulfill the needs of our customers.

  • 2002

    The new Main branch of I&M opened at the glittering 16 storey I&M Bank Tower located at the heart of the Central Business District of Nairobi-Kenya.

  • 2003

    I&M acquired the assets of Biashara Bank of Kenya Limited. This merger resulted in increased market share, profitability and efficiency.

  • 2007

    DEG and PROPARCO, two leading international development financial institutions, invested K.Shs.377 million to acquire 11.96% shareholding in I&M.

  • 2008

    In February 2008, I&M acquired 50% shareholding in First City Bank (FCB) Limited, through a joint venture with the CIEL Group, Mauritius. FCB has subsequently rebranded itself as Bank One Limited.

  • 2010

    In January 2010, I&M Bank announced its entry into commercial banking in Tanzania with the acquisition of a majority stake in CF Union Bank Ltd (CFUB). Also participating in the equity buy-out was PROPARCO, a French Development Financial Institution, and an existing shareholder of I&M Bank together with The Kibo Fund and a well known and respected Tanzanian businessman Mr. Michael N Shirima who is a significant shareholder of Precision Air, the Tanzanian national airline.

  • 2010

    PROPARCO, the French Development Agency, jointly with DEG – the German Investment & Development Company increased their shareholding through an additional investment of USD 17 Million in I&M Bank. With this additional equity investment, the two organisations now hold a 21.7% shareholding in I&M Bank.

  • 2012

    I&M Bank enters Rwanda with the acquisition of a majority shareholding in Banque Commerciale du Rwanda (BCR), in consortium with Proparco and DEG.

  • 2013

    I&M Bank shares become publicly traded in the Nairobi Stock Exchange through an acquisition by a publicly listed holding company, I&M Holdings Ltd.

Now

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