UGANDA, Kampala | Real Muloodi News | Following the acquisition of Orient Bank Uganda on 30th April 2021, I&M Bank Uganda Ltd officially launched its rebranded operations across all its branches in Uganda on Monday 08th November 2021. The colourful ceremony took place at Kampala Serena Hotel.
The I&M Group, incorporated on 16th August 1950 and listed on the Nairobi Securities Exchange (NSE), received regulatory approval from all regional regulatory bodies in the East African region, and will now trade as I&M Bank (Uganda) Ltd.
Starting in 1993, Orient Bank Uganda Ltd has 14 branches and 14 ATMs serving corporate, including SME and retail clients. The rebrand comes after I&M Group successfully acquired a 90 per cent shareholding in the bank.
What I&M Bank Uganda Ltd will do for Its Customers
In his speech at the event, Mr Kumaran Pather, the bank’s CEO, said that I&M Uganda would focus on supporting critical sectors that impact growth across the region, including agriculture, transport, technology and manufacturing, by offering attractive digital-focused solutions.
“I&M Group PLC 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,” said Mr Pather.
Pather added that “the rebranding is the latest step in an operations overhaul which has been ongoing for the last one year and has included retraining of staff, enhancing customer relations and upgrading the bank’s core banking system.”
According to Mr Suleiman Kiggundu, the bank’s chairperson, a change of name presents a massive opportunity for the bank to harness access to more customers both in Uganda and East Africa at large. There is also a chance to produce a product that offers a broader range of service choices to the prospective market.
I&M Group, according to Mr Pather, is committed to its clients and the markets it serves. The bank and its staff invest significant time and resources to refine the new I&M Bank brand and seamlessly integrate platforms and offerings.
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