DESIGNA MAGAZINE DESIGNA ISSUE III 2019 2 | Page 56

Financial Institutions – Proparco, IFC, DEG and FMO.
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 Tanzania Limited and
I&M Bank Rwanda Limited.
I&M Group
I&M Bank Limited is also the �agship company of the
I&M Group of Companies a leading corporate group in
East Africa. �e Group has a major presence in Banking
and Insurance, Manufacturing and Real Estate. Apart
from the Bank, the Group's related companies include GA
Insurance Company – popularly known as GA. GA is one
of the oldest insurance companies operating in Kenya
specialising in all classes of general insurance. Having its
parentage from General Accident UK, it was incorporated
as Kenyan Insurance Company in 1979. Enjoying its
presence over 50 years, GA has earned its standing as one
of the reputable insurance companies in Kenya.
56
D E S I G N A
| May
-
June 2019
I&M Bank also owns 50% of a bank in Mauritius – Bank
One Limited an acquisition made jointly with the CIEL
group of Mauritius, which is one of the largest and most
reputable business groups in Mauritius. Bank One, with its
customer base of over 50,000, a branch network of 15
branches in Mauritius, and a staff complement of 300 is a
fast growing commercial bank in Mauritius.
1974
Investments & Mortgages Limited was formed and was
based in Phoenix House. "I&M" as it was known, provided
a much needed personalised �nancial service for Nairobi's
business community.
1980
Formally registered as a Financial Institution under
Banking Act and moved offices to Investment House,
Kenyatta Avenue.
1996
Following changes in the Central Bank of Kenya regulation,
I&M formally converted into a commercial bank on 1st
April 1996. �is change coincided with a move to a more
modern setting on Koinange Street.
1999
I&M was in the process of a major restructuring exercise in