|l&M Bank (T) Ltd|
l&M Bank (T) Limited Jobs
Aspiration Become a banking powerhouse in East Africa for medium to
large businesses and premium clients.
be partners of growth for all our stakeholders. We will achieve this
through: Meeting our Customers’ expectations. (M) Motivating &
developing every employee. (M), Enhancing shareholder value. (M), Mutual
Respect (CV), Fairness (CV), Innovativeness (CV). Our Vision To become a
company where the best people want to work. The first choice, where
customers want to do business, and where shareholders are happy with
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I&M Bank Tanzania is an equal
opportunity employer offering stable and professional working
environment with competitive remuneration and benefits.
Only shortlisted candidates will be informed the date of the interview.
I&M Bank History
1 Park Avenue
relocate to the new state of the art premises at 1 Park Avenue located
at 1st Parklands Avenue, Nairobi-Tanzania.
Acquisition of Orient Bank Ltd
I&M Holdings Plc acquires 90% stake in Orient Bank Ltd (Uganda)
& Mortgages Limited was formed and was based in Phoenix House.
“I&M” as it was known, provided a much needed personalized financial
service for Nairobi’s business community.
Formally registered as a Financial Institution under Banking Act and moved offices to Investment House, Tanzaniatta Avenue.
Conversion to commercial bank
changes in the Central Bank of Tanzania regulation, I&M formally
converted into a commercial bank on 1st April 1996. This change
coincided with a move to a more modern setting on Koinange Street.
was in the process of a major restructuring exercise in 1999 to
coincide with completion of 25 years of “I&M” name. The changes were
initiated by the launch of a small, but important change – a new logo.
This was intended to highlight I&M’s evolution from a finance
company into a commercial bank. I&M’s head offices were relocated to
the prestigious I&M Bank House on 2nd Ngong Avenue,
Nairobi-Tanzania. This modern, spacious building was designed and built
to fulfill the needs of our customers
main branch of I&M opened at the glittering 16 storey I&M Bank
Tower located at the heart of the Central Business District of
I&M acquired the assets
of Biashara Bank of Tanzania Limited. This merger resulted in increased
market share, profitability and efficiency.
and PROPARCO, two leading international development financial
institutions, invested K.Shs 377 million to acquire 11.96% shareholding
Regional Expansion – Mauritius
2008, I&M acquired 50% shareholding in First City Bank (FCB)
Limited, through a joint venture with the CIEL Group, Mauritius. FCB has
subsequently rebranded itself as Bank One Limited.
Regional Expansion – Tanzania
January 2010, I&M Bank announced its entry into commercial banking
in Tanzania with the acquisition of a majority stake in CF Union Bank
Ltd (CFUB). Also participating in the equity buy-out was PROPARCO, a
French Development Financial Institution, and an existing shareholder of
I&M Bank together with The Kibo Fund and a well known and respected
Tanzanian businessman Mr. Michael N Shirima who is a significant
shareholder of Precision Air, the Tanzanian national airline.
Increased Investment by PROPARCO
the French Development Agency, jointly with DEG – the German Investment
& Development Company increased their shareholding through an
additional investment of USD 17 million in I&M Bank. With this
additional equity investment, the two organisations now hold a 19.77%
shareholding in I&M Bank.
Regional Expansion – Rwanda
Bank enters Rwanda with the acquisition of a majority shareholding in
Banque Commerciale du Rwanda (BCR), through a consortium with Proparco
Reverse acquisition of City Trust Limited (Now I&M Holdings Plc)
Bank shares become publicly traded in the Nairobi Stock Exchange
through a reverse acquisition of a public listed company, I&M
Holdings Plc. I&M Holdings becomes the Parent entity of the Group
through this acquisition.
launched its Bancassurance products with a view to broaden our range of
financial services. I&M Bancassurance is being offered by the
I&M Insurance Agency Ltd, a wholly owned subsidiary of I&M Bank
Ltd. The Bancassurance offering provides a wide range of insurance
solutions to its customers through the bank’s retail network.
Agency Banking Launch
I&M Bank (K) Ltd launched its Agency Banking platform through partnerships with different agent outlets across the country.
Burbidge Capital Acquisition by I&M Holdings
Holdings completed the acquisition of 65% of shareholding in Burbidge
Capital Limited (BCL). Following the completion of its acquisition, the
company rebranded to I&M Burbidge Capital to help the firm leverage
on Bank’s and Burbidge Capital’s brand and track record; in its bid to
offer advisory and capital raising services to mid and large sized
companies across Eastern Africa.
Strategic Alliance with CDC
the completion of the investment Tenor of DEG and Proparco and
following receipt of all relevant regulatory approvals, DEG &
Proparco on one hand and CDC on the other successfully entered into a
Sale and Purchase Agreement where CDC acquired their combined
shareholding of approximately 10.68% in I&M Holdings Plc (IMHP).
I&M Holdings Limited Completes Acquisition of Giro Commercial Bank Limited
Holdings (IMHP) successfully completed its merger of Giro Commercial
Bank Limited (GCBL) into I&M Bank Limited, which is IMHP’s banking
flagship subsidiary. The merger came to fruition after receiving
necessary regulatory approvals from the Capital Markets Authority (CMA),
Central Bank of Tanzania, the Competition Authority of Tanzania as well
as IMHP shareholders.
I&M Bank Tanzania
and German development finance institution DEG set up a new unit to
provide specialist banking and advisory services to German businesses
looking for trade in the region. This is a first of its kind partnership
between an African bank and DEG and is second worldwide after Peru.
I&M Acquires Youjays Insurance Brokers Limited
Bank Limited, through its wholly owned subsidiary, I&M Insurance
Agency Limited (IMIAL) announced the successful completion of
acquisition of Youjays Insurance Brokers Limited (YIB). IMIAL acquired
100 percent of the shareholding of the insurance broking firm
simultaneously merging its operations with the Group’s Bancassurance
Dutch FMO Provides USD 40 Million Loan to I&M Bank Tanzania
Bank secures US $ 40 million loan from FMO, the Dutch Development
Bankthat will support investment by small businessenterprises (SMEs)
across Tanzania. Backed by the FMO facility I&M Bank’s SME, will be
supported through onward lending of the funds and in the process aid in
boosting the local economy.
I&M Bank Tanzania attains Tier 1 status
Bank Limited increases its market share to 5.3% thereby ringing in a
new milestone as it joined the country’s top banks by attaining Tier 1
status. I&M Bank successfully raises USD 27.35Mn as tier II capital.