City Trust
| Public | |
| Traded as | KN: |
| Industry | Banking, Insurance |
| Founded | 15 August 1950 |
| Headquarters |
I&M Bank Tower Kenyatta Avenue Nairobi, Kenya |
|
Key people
|
Kihara Maina Group Executive Director |
| Products | Banking & Insurance. |
| Revenue |
 Pretax:US$102 million (KES:10.2 billion) (2015) |
| Total assets | US$1.916 billion (KES: 191.7 billion) (2015) |
|
Number of employees
|
1,600+ (2016) |
| Website | Homepage |
I&M Holdings Limited, also I&M Bank Group, is a conglomerate comprising financial service providers (banks and an insurance company). The group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Mauritius, Rwanda and Tanzania. The flagship company of the group is I&M Bank Limited, with headquarters in the I&M Bank Tower on Kenyatta Avenue in the central business district of Nairobi, Kenya's capital and largest city.
I&M Holdings as we now know it is a result of a reverse merger between City Trust Limited and I&M Bank Limited.
I&M Holdings Limited was founded in 1950 as City Trust Limited, an investment holding company. The firm was one of the first to list its stock on the Nairobi Securities Exchange.
I&M Bank was founded in 1974 as Investments & Mortgages Limited, as a private company providing personalised financial services to business people in the Nairobi area. The firm converted to a commercial bank in 1996. In 2003, the bank acquired Biashara Bank of Kenya Limited thereby expanding its branch network, client base and assets under management.
In 2010, the group acquired a controlling interest in CF Union Bank of Tanzania, whose assets were estimated at about US$61 million in December 2009. In September 2010, CF Union Bank Tanzania rebranded to I&M Bank (Tanzania). The group is reported to have intentions to expand throughout East Africa through acquisitions.
During 2012, the group acquired a controlling interest in Commercial Bank of Rwanda (BCR), the second-largest commercial bank in the Republic of Rwanda. In 2013 BCR rebranded to I&M Bank (Rwanda), to reflect its current shareholding.
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Wikipedia