I & M Bank Kenya Limited is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the Central Bank and the National Banking Supervisory Authority.

Overview

As of September 2019, the bank's total assets were valued at over $2.52 billion (261 billion Kenyan shillings) and shareholders' equity was approximately $424 million (44 billion Kenyan shillings). As of September 2019, the bank was ranked 8th among the 40 licensed banks in the country at that time by total assets. I & M Bank provides banking services to both large and small corporate clients with a focus on medium to large companies as well as individuals with a focus on premium clients I & M has also moved into Tier 1 following the acquisition of Giro Bank.

History

The bank's history dates back to 1974 when Investments & Mortgages Limited was established as a privately held company providing personalised financial services to business people in the Nairobi area. In 1980 I & M (then the company) was registered as a Financial Institution Group under the Banking Act. Following changes in regulations of the Central Bank of Kenya (the country's banking regulator), I & M became a commercial bank in 1996.

In 2002, a 16-storey glass and steel skyscraper, known as the I & M Bank Building, opened on Kenyatta Avenue in Nairobi's Central Business District. The following year, I & M Bank acquired Biashara Bank Limited of Kenya, expanding I & M's branch network, client base and assets under management.

In 2007, two International Development Financial Institution Groups, DEG and PROPARCO, invested about $4.50 million to acquire an 11.96% stake in I & M Bank. This shareholding ratio was later increased to 19.7%.

In 2008, I & M Bank acquired a 50% ownership stake in First City Bank of Mauritius Limited (FCB). FCB has since changed its name to First Bank of Mauritius. In 2010, I & M Bank acquired a controlling stake in CF United Bank of Tanzania. CF United Bank has since changed its name to I & M Bank (Tanzania).

In July 2012, I & M Banking Group acquired a controlling stake in Rwanda Commercial Bank (BCR), then the second largest commercial bank in the country, for an undisclosed amount

In August 2013, BCR changed its name to I & M Bank Rwanda.

In 2013, I & M Bank created I & M Holdings Limited as the holding company for all of the Group's businesses and subsidiaries. Shares of the holding company are listed and publicly traded on the Nairobi Stock Exchange under the symbol I & M.

In 2020, 1 Park Avenue opened as the new headquarters of I & M Banks. The building is located at the junction of First Park Avenue and Limru Road in Nairobi.

Acquisition

In September 2015, I & M Holdings began to acquire Giro Commercial Bank and merge its operations with those of I & M Bank Limited. The process, which required regulatory approval, ended in February 2017 when Giro Commercial Bank relinquished its banking license and became part of Kenya's I & M Bank.

Branch Network

1. Kenyatta Avenue Branch - I & M Bank Tower , Kenyatta Avenue, Nairobi
2. Karen Branch - Karen Office Park, Langata Road, Karen , Nairobi
3. 2nd Ngong Avenue Branch - I & M Bank House, 2nd Ngong Avenue, Nairobi
4. Sarit Centre Branch - 1st Floor, Sarit Centre, Westlands , Nairobi
5. Biashara Street Branch - Ansh Square, Biashara Street, Nairobi
7. Industrial Zone Branch - KCC Building, Changamwe Road, Nairobi
8. Langata Link Branch - Langata Link Complex, Langata South Road, Nairobi
10. SPAN > Valley Arcade Branch - Kenol Kobil Station, Gitanga Road, Nairobi
11. Panari Sky Centre Branch - Nairobi - Mombasa Road , Nairobi
12. One Park Branch - 1 Park Avenue, Ground Floor (junction of 1st Parklands and Limuru Road)
13. Wilson Airport Branch - Pewin House, Wilson Airport , Nairobi SPAN >
14. Ongata Rongai Branch - Ground Floor, Maasai Mall, Ongata Rongai , Nairobi
15. South C Branch - South C Shopping Centre, Nairobi
17. Riverside Drive Branch - 14 Riverside Drive, Nairobi
18. Nyali Complex Branch - Nyali Cinemax, Main Nyali Road, Mombasa
19. Mombasa Branch - Biashara Building, Nyerere Road, Mombasa
20. Kisumu Branch - Bon Accord House, Oginga Odinga Street, Kisumu
21. Nakuru Branch - Polo Center, Kenyatta Avenue,
Eldoret Branch - Ground Floor, Zion Mall, Uganda Road, Eldoret SPAN >
22. Changamwe Branch - First Floor, Refinery Building, Refinery Road, Mombasa
23. Kisii Branch - Royal Tower, Hospital Road, Kisii
24. Malindi Branch - Malindi First Floor, Pine Court Building, Lamu Road
25. Nyeri Branch - Ground Floor, Nyaatha Plaza, Kimathi Way, Nyeri Li >
26. Thika Branch - Ground Floor, 80 West Square, across from Tuskis Supermarket, Sika
27. Country Market Branch - Village Market Shopping Centre - New Wing, 1st Floor, Limrou Road
28. Sarit Centre Select Branch - Sarit Centre New Wing, Lower Ground Floor, Westlands
29. Lavington Mall Branch - Lavington Mall, Nairobi, off James Gichuru Road
30. Kitale Branch - Ground Floor, Mega Centre Mall, Kitale
31. Lunga Lunga Branch - Ground Floor, Lunga Lunga Mall, Lunga Lunga Road, Industrial Zone, Nairobi
32. Yaya Centre Branch - 4th Floor, Yaya Centre, Argwings Kodhek Road, Nairobi
33. Gateway Mall Branch - Gateway Mall, Mombasa Road, opposite Syokimao Railway Station, Nairobi.
34. Garden City Mall Branch - Garden City Mall, Thika Road, Nairobi
35. Nanyuki Branch - Nanyuki Ground Floor, Hussein Building
36. Cross Road Branch - Off River Road, Nairobi
Meru Branch - Ground Floor, P & K Plaza, Moi Avenue, Meru
37. Eldama Park Branch - Eldama Park, Nairobi
38. Dunga Road Branch - Dunga Road, Nairobi Industrial Estate
39. Ridge Court Branch - Ridge Court, Parklands, Nairobi
40. Haile Selassie Branch - Patel Samaj Building, Haile Selassie Avenue, Mombasa
41. Spring Valley Branch - Nairobi Spring Valley Business Park B The first floor.