I&M Bank Eldoret was founded in 1974 as a financial services company and later converted to a commercial bank.
I&M Bank Eldoret is a wholly-owned subsidiary of I&M Group PLC (previously known as I&M Holdings PLC), a public company, listed at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking. Having started in 1974, it evolved from a community financial institution to a publicly listed major regional commercial bank offering a full range of corporate and retail banking services.
From June 2013, I&M Bank shares are publicly traded in the Nairobi Stock Exchange through the acquisition of its entire shareholding by I&M Group Plc (previously known as I&M Holdings PLC), a publicly listed company.
I&M Bank is a dominant player in the Kenyan market that has been consistently growing, leveraging its enhanced digital and IT capabilities to position the Bank as a leader among its peers.
British International Investment, a development finance institution wholly owned by the government of the United Kingdom owns approximately 10.68% of I&M Group Plc, the holding company of I&M Bank Ltd. In addition, I&M Bank has a technical support agreement with International Finance Corporation for staff training, product development and risk management. I&M Bank also enjoys medium-term foreign currency credit facilities from various Development Financial Institutions – Proparco, IFC, DEG and responsibility.
I&M Bank’s international correspondent banks include major multinational banks such as Bank One Ltd, Citibank NA, Commerzbank AG, Deutsche Bank AG, ICICI Limited Mumbai, Mashreq Bank PLC, Standard Bank of South Africa and Standard Chartered Bank NY.
I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank (T) Limited, Tanzania and I&M Bank (Rwanda) Plc, Rwanda and I&M Bank Uganda Ltd.