Subsidiary Brief

I&M Bank, I&M Group’s flagship entity, was incorporated in the Republic of Kenya on 14th May 1974 under the name Investments & Mortgages Limited.

The Bank was first established as a financial institution, and grew into a full-fledged commercial bank that was licensed by the Central Bank of Kenya in 1996, upon which the Bank changed its name to Investments & Mortgages Bank Limited on 2nd April 1996. The Bank adopted the name I&M Bank Limited on 25th September 2008.

The Bank offers a wide range of commercial banking and financial products and services, and prides itself on introducing innovative products and services based on the needs of its customers.

I&M Bank (T) Limited (“I&M-Tz”), formerly known as CF Union Bank Limited (“CFUB”), is a commercial bank in Tanzania, licensed and regulated by the Bank of Tanzania. CFUB was a privately-owned bank, incorporated on 15th April 2002 arising from the merger between Furaha Finance Limited and Crown Finance & Leasing Limited. CFUB became a subsidiary of I&M Bank on 14th January 2010.

I&M Bank (T) represents the Group’s first major expansion into the regional East African market, and was I&M’s first step towards establishing an integrated presence to form a truly regional Bank serving as the financial gateway to East and Central Africa.

I&M Bank (Rwanda) Plc, formerly Banque Commerciale du Rwanda Limited (BCR), was founded in May 1963 and is the oldest commercial bank in Rwanda. The Bank enjoys a strong reputation of reliability, innovation and solidity. BCR became a subsidiary of the I&M Group in July 2012.

Bank One Limited, formerly known as First City Bank Limited (“FCB”), is a commercial bank in Mauritius, licensed to do both on-shore and off-shore banking business, and regulated by the Bank of Mauritius. FCB was formerly owned by Government of Mauritius’ institutions, which divested from the bank by selling their equity in 2008 to I&M Bank and CIEL Investment Limited.

Bank One represents I&M’s maiden expansion in terms of overseas investments, and marked the beginning of its strategic expansion outside Kenya. Through Bank One, I&M offers international off-shore banking, wealth management and trade finance services to a widespread clientele.

I&M Capital is licensed as a fund manager by the Capital Markets Authority. I&M Capital was incorporated on November 12, 1963 under the name Unga (TMH) Limited. It later changed its name to Kenstock Limited on June 12, 1975. Following the reverse takeover of CTL, Kenstock became a wholly owned subsidiary of IMHL and changed its name to I&M Capital on July 21, 2015. It was licensed as a Fund Manager by the Capital Markets Authority on June 24, 2015.

The company was incorporated on 30th October 2014 as a limited liability company in Kenya under the Companies Act and commenced operations in November 2015. It is the real estate holding company of I&M Group. The principal activity of the company is to lease its properties for rental income.

Giro Limited, formerly Giro Commercial Bank Limited a full-fledged commercial bank licensed by the CBK, and was incorporated on 18 December 1992 and commenced operations in 1993. It ceased as a Commercial Bank following the acquisition by I&M Holdings and merger of its banking business into I&M Bank in 2017. Subsequently, its property holdings were transferred to I&M Realty Limited.

I&M Burbidge Capital Limited (“IMBC”) was incorporated in May 2010 and is domiciled in the Republic of Kenya. IMBC is a corporate finance advisory firm regulated by the Capital Markets Authority (CMA) as an Investment Advisor. IMBC advises businesses in the East Africa region on significant capital raising through IPOs, private equity, debt and mergers & acquisition transactions with a focus on large and mid-sized companies. IMBC has a wholly owned subsidiary domiciled in Uganda – I&M Burbidge Capital (U) Limited which was incorporated in April 2012.

I&M Bancassurance Intermediary Limited (previously known as I&M Insurance Agency Limited (‘IMIAL’) was incorporated on 23 July 2014 as a limited liability company in Kenya under the Companies Act and commenced operations on 1 August 2014. The company is regulated by Insurance Regulatory Authority under the Insurance Act (Cap 487) of the Laws of Kenya.

The core business of the company is provision of insurance agency services and offers a wide range of insurance products and insurance advisory services in partnership with leading insurance companies in the market.

Youjays Insurance Brokers (‘YIB’) is a private limited company incorporated in Kenya to carry on the business of an insurance broker and is licenced and regulated by the Insurance Regulatory Authority of Kenya. The Company was acquired in 2018 by I&M Bancassurance Intermiediary Ltd a wholly owned subsidiary of I&M Bank.

I&M Bank (Uganda) Ltd (formerly known as Orient Bank Ltd) is a commercial bank in Uganda which is licensed by the Bank of Uganda (BOU), the central bank and national banking regulator. I&M Bank (Uganda) Ltd is a leading Private sector commercial bank in Uganda since 1993. Its steady growth over the years can be attributed to its professional management and prudent lending and investment policy. I&M Group Plc has 90% shareholding in I&M Bank (Uganda) Ltd.