• Home
  • About
  • Join Us
  • Contact
93.3 KFM
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
Subscribe
No Result
View All Result
93.3 KFM
No Result
View All Result
Home Business

I&M Holdings concludes acquisition of Orient Bank

Noelyn Nassuuna by Noelyn Nassuuna
May 4, 2021
in Business
0
I&M Holdings concludes acquisition of Orient Bank
117
VIEWS
Share on WhatsAppShare on FacebookShare on Twitter

By Ivan Ssenabulya

I&M Holdings PLC has announced the majority acquisition of Orient Bank Limited (OBL) from 8 miles LLP and Morka Holdings Limited.

Related articles

NSSF registers better performance amid ongoing saga

Facebook tops in marketing use in Africa

I&M Holdings PLC and Orient Bank Limited signed an agreement in July 2020 for I&M Holdings PLC to acquire 90 percent shareholding of the Ugandan entity.

The acquisition was completed on 30th April 2021 after receiving the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the COMESA Competition Authority.

I&M’s Executive Director, Sarit Raja Shah says the move underscores the group’s commitment to its growth and expansion strategy in Eastern Africa, where Uganda was the missing link in the Group’s strategic effort to set up its presence in all East African countries.

Shah adds that the acquisition of OBL will place I&M Bank in an advantageous position to capitalise on the growth in the Eastern African economies and thereby ultimately increasing shareholder value.

Through the acquisition, I&M Group has acquired additional net loan assets of approximately USH 262 billion, deposits of USH 606 billion, a customer base of close to 70,000, a staff component of 340 employees and a network of 14 branches and 22 ATMs across the country.

Noelyn Nassuuna

Noelyn Nassuuna

Related Posts

Your money is safe – NSSF’s Patrick Ayota

NSSF registers better performance amid ongoing saga

by Moses Ndhaye
January 25, 2023
0

The National Social Security Fund (NSSF) has boasted of posting a better performance in its half-year despite the alleged corruption scandal it is currently facing. Addressing...

Facebook tops in marketing use in Africa

Facebook tops in marketing use in Africa

by admin
January 18, 2023
0

By AFP Facebook retained its lead as the most used social media platform for marketing in Africa, according to findings of a new survey by media...

Improved marketing driving insurance sector – IRA

Improved marketing driving insurance sector – IRA

by Moses Ndhaye
December 19, 2022
0

The Insurance Regulatory Authority (IRA) says the current improvement in the market conduct while selling insurance-related products will spur the growth of the sector come 2023....

Bukedea teacher’s Sacco chairperson on the spot over mismanaging funds

Anti-corruption advocates warn govt over non-concessional loans

by Moses Ndhaye
December 16, 2022
0

Anti-corruption advocates have asked government to stop acquiring non-concessional loans which attract high-interest rates on repayment. According to the program manager at the Uganda Debt Network,...

Women hold 10% of business leadership positions – Report

Women hold 10% of business leadership positions – Report

by Ritah Kemigisa
December 8, 2022
0

A new Women in News Leadership mapping report has revealed a significant gender gap within the highest ranks in the media. On average, WAN-IFRA found that...

Next Post
Ugandan scientists studying new covid variant

Italy's population declines in 2020 amid pandemic, lower immigrant arrivals

M7 invites over 4,000 for his swearing in ceremony

Government needs Shs 48 billion  to acquire new rail wagons

Parliament passes Prevention and Prohibition of Human Sacrifice Bill, 2020

CATEGORIES

  • Business
  • Entertainment News
  • Health
  • HotSeat
  • Lifestyle
  • National News
  • News
  • PHOTO GALLERY
  • Sports
  • World News
Govt to introduce cashless transport system

Road safety; everyone’s responsibility

January 30, 2023
Serere by-election: FDC rejects plea to front joint opposition candidate

Serere by-election: FDC rejects plea to front joint opposition candidate

January 30, 2023
PHOTOS: State Minister Haruna Kasolo introduced by lover

PHOTOS: State Minister Haruna Kasolo introduced by lover

January 30, 2023
93.3 KFM

Kampala's #NumberOne radio station for better information and the best music ! KFM is a subsidiary of Nation Media Group;
@NationMediaGrp

© 2022

No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters

© 2022