The I&M Group has officially launched its rebranded operations in Uganda. This follows its acquisition of Uganda’s Orient Bank on 30th April this year.
The Ugandan bank will now operate as I&M Bank Uganda Limited and adopt the Group’s corporate logo and colours.
The acquisition of Orient Bank earlier this year received regulatory approval from the Central Bank of Kenya (CBK), Bank of Uganda, Capital Markets Authority of Kenya (CMA) and the Common Market for Eastern and Southern Africa (COMESA).
The entry of I&M Group into the Ugandan market will help to consolidate the Group’s presence in East Africa. It will also further position the Group as Eastern Africa’s leading financial partner for growth.
Speaking at the rebrand event, Suleiman Kuggundu, I&M Group Chairperson said, “The rebrand will not only unlock the bank’s potential, but also will enable it to reach out to more customers within Uganda, and in Eastern Africa as a whole. Further the move will enable the bank to roll out a more diversified product and service offering to its target market.”
Also speaking at the event, Kumaran Pather, the Bank’s CEO said that I&M Uganda will focus on supporting critical sectors that impact growth across the region. These include agriculture, transport, technology and manufacturing through offering attractive, digital-focused solutions.
“I&M Group and its subsidiaries have made significant investments in key sectors across Eastern Africa’s regional economy, including banking and finance, SMEs, real estate, financial technology, trade, agriculture, and infrastructure. We are extremely excited to announce today’s launch and rebrand, aligning our digital capabilities as well as our brand elements to keep pace with our industry leading achievements and our unique products and services within the East African region,” added Mr. Pather.