December 25, 2014 11:45 PM ET

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Company Overview of I&M Holdings Limited

Company Overview

I&M Holdings Limited operates as the holding company for I&M Bank Limited that provides corporate and retail banking products and services in Kenya. It offers personal banking services, such as personal transaction accounts, and recurring and fixed deposits, as well as savings accounts for children; credit, debit, and pre paid cards; home and car loans; mobile banking services; and investment management services, including securities accounts, facilitation of purchase and sale of securities from the stock market, fiduciary services, and investment in government securities. The company also provides business banking services comprising various business transaction accounts; loans, such as ove...

I&M Bank House

2nd Ngong Avenue

PO Box 30238

Nairobi,  00100

Kenya

Founded in 1974

Phone:

254 20 322 1000

Key Executives for I&M Holdings Limited

I&M Holdings Limited does not have any Key Executives recorded.

I&M Holdings Limited Key Developments

Tuskys and I&M Bank to Open New Branches in Kitale

Tuskys and I&M Bank are set to open new branches in Kitale, taking up space in the newly completed Trafalgar Square. The development's owner Paresh Tanna has confirmed that the firms are among blue chip companies that will occupy the KES 400 million building.

I&M Bank Mulls Acquisitions

I&M Bank Limited plans to begin operations in Uganda within 12 months, possibly by acquiring an existing lender, Executive Director Sarit Raja-Shah said in an interview. I&M Bank plans to raise money in the next year to fund its regional expansion, Chief Executive Officer Arun Mathur said. “We are still thinking of how to raise money”, Arun Mathur said. He said the company has not yet determined how much it plans to raise. “There could be a rights issue, there could be an issue of debt and equity” carried out by July 2014, he said. “We have been looking at potential acquisitions in Uganda”, Raja-Shah said. “If we don’t find the right fit with our strategy, then we will definitely be looking at going for a fresh license”.

I&M Bank Partners with Mastercard to Launch Kenya’s First Multi-Currency Prepaid Card

I&M Bank Limited has announced a partnership with Mastercard Incorporated that will see the introduction of the first ever MasterCard branded multi-currency Prepaid travel cards in Sub-Saharan Africa. The I&M MasterCard multi-currency Prepaid cards will enable cardholders to carry three currencies, namely: U.S. Dollars, Sterling Pounds and Euros on a single card, while at the same time offering users a secure and convenient mobile wallet at a time when the world is moving more towards cashless transactions. I&M Bank has partnered with MasterCard to provide the payments technology, effectively allowing the card’s users access to over 34 million MasterCard Point of Sale terminals in over 210 countries. As a result of the partnership with MasterCard, cardholders will also access all core card services globally such as card replacement, cash disbursement, and lost/stolen card reporting. The introduction of the I&M Bank MasterCard multicurrency Prepaid card will also provide ease for many Kenyan shoppers that are looking to make their purchases online. The use of the card will allow consumers to make payments quickly and efficiently on a large number of secure websites- both Kenyan and international.

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