Orient Bank (U) Limited has today officially rebranded and now will begin to operate as I&M Bank (U) Limited who will adopt the Group’s vibrant corporate logo and colors. This comes after I&M Group’s successful acquisition of a 90 percent shareholding of Orient Bank (U) Ltd on April 30th, 2021.
The group 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. It is also part of the Group’s broader strategy to grow its business by increasing its geographical footprint across the Eastern African region.
While addressing journalists at the rebranding launch at Kampala Serena Hotel, Mr. Suleiman Kiggundu, I&M Bank Board Chairman 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. “The move will enable the bank to roll out a more diversified product and service offering to its target market,” Kiggundu added.
Mr. Kumaran Pather, now I&M Bank Uganda CEO said 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 its core banking system.
Kumaran also noted that “I&M Group Plc and its subsidiaries have made significant investments in key sectors across Eastern Africa’s regional economy, including banking & finance, SMEs, real estate, financial technology, trade, agriculture, and infrastructure. We will focus on supporting critical sectors that impact growth across the region, including agriculture, transport, technology, and manufacturing through offering attractive, digital-focused solutions.”
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.
“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,” said Kumaran.
The entry of I&M Group into the Ugandan market was the missing link towards the consolidation of the Group’s presence in East Africa.
This 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.