This archive report was first published on 3 May 2021.
Published on May 3, 2021, I&M Holdings has completed the acquisition of 90% ownership in Orient Bank, a leading commercial bank in Uganda.
The acquisition, which was completed on April 30, 2021, is part of I&M's strategy to expand its business in the East African region as competition intensifies in the banking industry.
With operations in Kenya, Uganda, Tanzania, Rwanda, and Mauritius, I&M Holdings aims to be Eastern Africa's leading financial partner for growth.
Orient Bank, established in 1993, is one of the leading commercial banks in Uganda, with 22 branches spread across the country and serving over 68,000 customers.
As of December 2019, the bank had total assets worth KSh24.6 billion.
I&M Holdings Executive Director Sarit Raja said,
