By Spy Uganda
The latest we are getting from banking sector indicates that I&M Bank formerly known as Orient Bank has shifted it’s headquarters to strategically located Kingdom Kampala Mall.
Kampala Kingdom is a Mall and shopping complex under the ownership of East Africa’s tycoon Sudhir Ruparelia.
In a message shared to it’s clients, the bank says the relocation will take effect Tuesday 2nd May 2025.
“Dear customer, IM BANK has relocated our Head Office to Kingdom Kampala Mall on Nile Avenue, Kampala effective Tue 2/05/2023. For details call 0800144551,” the bank informed it’s clients.
The new location is apparently tailored for both high net-worth individuals as well as corporate clients.
According to I&M, the functions that will be at the new location are that of Executive Office, Corporate banking products and channels, treasury, credit, legal, marketing and corporate communication and compliance.
I&M entered Uganda after acquiring majority shares of former Orient bank.
I&M Holdings PLC have acquired Orient Bank Limited from 8 miles LLP and Morka Holdings Limited. The acquisition process was completed on April 30, 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.
Last year I&M Holdings Limited announced that they have reached an agreement to buy 90 per cent of Orient Bank Limited Uganda.
Through the acquisition, I&M Group has acquired additional net loan assets value of approximately Shs262 billion, deposits of Shs606 billion, a customer base of 68787, a staff component of 340 employees and a network of 14 branches and 22 ATMs across the country. A clear plan for the integration of OBL into the I&M Group has been developed and the Group expects to gain considerable business and operational synergies.
In January 2016, Crane Management Services, a subsidiary of the Ruparelia Group and South African developer Abland Africa, entered into a joint venture with Kingdom mall Limited to complete the construction of the mall complex.
The mall is located on Nakasero Hill, an upscale neighborhood in Kampala, the capital and largest city of Uganda. The piece of property where the mall is located is bordered by Nile Avenue to the north, Yusuf Lule Road to the east, and De Winton Road to the south. The National Theater and Uganda Broadcasting Corporation border the location to the west.
Kampala Kingdom is part of a business/residential real estate development that includes:
A 200-room four-star mall tower – The Kampala Kingdom mall.
Rentable retail and office space, measuring in excess of 22,000 square metres (240,000 sq ft).
Parking space for over 450 vehicles.
