I&M Group PLC officially launched its rebranded operations in Uganda today, following its acquisition of Uganda’s Orient Bank Ltd on 30th April 2021. The Ugandan bank will now operate as I&M Bank (Uganda) Limited and adopt the GroupOrient Bank Rebrands To I&M Bank Uganda’s vibrant corporate logo and colours.
The Nairobi-based financial Group announced that the rebrand comes after the I&M Group’s successful acquisition of a 90 per cent shareholding in Uganda’s Orient Bank Ltd earlier this year. This received regulatory approval from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya as well as the Common Market for Eastern and Southern Africa (COMESA), and is part of the Group’s broader strategy to grow its business by increasing its geographical footprint across the Eastern African region.
“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,” said Mr. Suleiman Kiggundu, the bank’s chairman.
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 its core banking system.” Mr. Pather added that “I&M Group has made significant investments in its technology infrastructure as part of its digital transformation journey in the region. Reflecting its commitment to its clients and the markets it serves, the bank and its staff have invested significant time and resources to refine the new I&M Bank brand and to seamlessly integrate new platforms and offerings.”
The entry of I&M Group into the Ugandan market was the missing link towards consolidation of the Group’s presence in East Africa and further positions the Group as Eastern Africa’s Leading Financial Partner for Growth through providing its target groups with innovative and market-driven banking solutions across the region.
