This archive report was first published on 1 July 2021.
On July 2, 2021, I&M Bank announced the launch of its wealth management and advisory business, targeting high-net-worth clients in Kenya.
The new unit, I&M Capital, will offer a range of services including fixed income securities, portfolio restructuring and optimisation, investment loans for government securities, insurance products, and equities.
Offshore investments will also be offered in collaboration with Bank One Mauritius, a subsidiary of I&M Group.
"The team at I&M Capital have a deep understanding of local and global markets and will recommend solutions most relevant to clients’ investment needs informed by fundamental research," said I&M Capital chairman Daniel Ndonye.
"They will provide insights that will help clients make the right investment decisions to protect and help their wealth grow," he added.
The new unit is separate from advisory firm I&M Burbidge Capital, which offers advisory services to corporate clients.
I&M Bank, listed at the Nairobi Securities Exchange (NSE) in 2013, has grown into a financial services group after acquiring Biashara Bank, Giro Bank, and Youjays Insurance, providing financial advisory, real estate, and bancassurance services.
With the launch of I&M Capital, the bank aims to tap into the growing demand for professional investment advice among wealthy Kenyans, who are seeking to maximise returns in the financial markets amidst a persistent slump in the real estate market.
