Orient Bank finally changing to I&M Bank

Orient Bank says it is preparing for rebrand and name change to I&M Bank (Uganda) Limited

Kampala – 14, October 2021: I&M Group PLC’s acquisition of 90% shareholding in Uganda’s Orient Bank Ltd (OBL) forms part of its broader regional expansion plan towards its ambition of becoming Eastern Africa’s leading financial partner for growth, the bank says in a statement on Thursday.

Kumaran Pather, the managing director and CEO of Orient Bank Limited says the rebrand exercise will be done in a phased manner, starting with a physical refresh of the branches (and ATMs) and then overtime to rebranding of all other digital and physical assets.

“We are very excited to begin this new chapter as I&M Bank (Uganda) Limited. This will allow us to adopt our new name as well as become part of a growing, vibrant and well respected brand across East Africa,” Suleiman Kiggundu, Board Chairman says.

Orient says the acquisition by I&M Group and this rebranding marks the start of a new era for Orient Bank that has been in operation in Uganda for close to 30 years.

“I&M Group Plc, its subsidiaries have invested in crucial sectors of development across East Africa’s regional economy, including banking and finance, SMEs, real estate, fintech, trade, agriculture and infrastructure,” Kumaran reveals.

He adds that the Group will continue to play a critical role by investing in these (above) sectors while offering holistic financial solutions to individuals, small businesses and large organisations in Uganda.

The Bank started operation in Uganda in 1993 and as of today (2021), it employs 340 people.

Its total assets stand at UGX841.3b and US$221.58m as of 2019.