FinanceThe Big Story

I&M Holdings completes acquisition of Orient Bank, promises seamless regional access and superior services In a joint statement, I&M Holdings PLC and Orient Bank Limited say the acquisition will allow existing and potential customers of both banks to benefit from more seamless and superior banking services in the 5 countries that I&M has a presence. The duo also said an integration plan has been finalised.

by Muhereza Kyamutetera
As of the end of December 2020, Orient Bank had UGX734.6 billion in assets, composed of among others, UGX262.2 billion in loans. The bank also had UGX606 billion in customer deposits, a customer base of 68,787, a staff complement of 340 employees and a network of 14 branches and 22 ATMs across the country.
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I&M Holdings PLC has announced the majority acquisition of Orient Bank Limited (OBL) from 8 miles LLP and Morka Holdings Limited. OBL is the 12th largest commercial bank licensed and established in Uganda. 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 Orient Bank. The acquisition was completed

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.