I&M Bank Limited, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
As of September 2016, the bank's total assets were valued in excess of US$1.57 billion (KES:160 billion), with shareholders' equity of approximately US$294 million (KES:30+ billion). As of 2016, the bank was ranked 10th, by assets, out of the 41 licensed banks in the country. I&M Bank serves the banking needs of large and small business customers as well as individuals, with emphasis on large and medium-sized corporations.
The bank traces its history to 1974 when Investments & Mortgages Limited was formed as a private company providing personalised financial services to business people in the Nairobi area. In 1980, I&M, as the company was known at that time, was registered as a Financial Institution under the Banking Act. Following changes in the regulations of the Central Bank of Kenya, the banking regulator in the country, I&M became a commercial bank in 1996.
In 2002, the present headquarters building, a 16-storey glass and steel skyscraper known as the I&M Bank Tower, was opened on Kenyatta Avenue, in Nairobi's central business district. The following year, I&M Bank acquired Biashara Bank of Kenya Limited, expanding I&M's branch network, client base and assets under management.
In 2007 DEG and PROPARCO, two International development financial institutions, invested approximately US$4.5 million to acquire 11.96 percent shareholding in I&M Bank. That shareholding was later increased to 19.7 percent.
In 2008, I&M Bank acquired a 50 percent ownership in First City Bank Limited (FCB) of Mauritius. FCB has since rebranded itself as Bank One Mauritius. In 2010, I&M Bank acquired a controlling shareholding in CF Union Bank of Tanzania. CF Union Bank has since rebranded into I&M Bank (Tanzania).
In July 2012, I&M Bank Group took a controlling interest in Commercial Bank of Rwanda (BCR), the second-largest commercial bank in the country at the time, for an undisclosed sum of money.
In August 2013, BCR rebranded to I&M Bank Rwanda.
In 2013, I&M Bank created I&M Holdings Ltd, which was subsequently listed and publicly traded on the Nairobi Securities Exchange.