About I&M Bank
I&M Bank is a Financial Services company based in Nairobi (Kenya) founded in 1974 by S B R Shah, and was acquired by Kibo Capital Partners in January 2010. Commercial banking services are offered in Kenya. I&M Bank has raised $50 million across 8 funding rounds from investors including International Finance Corporation, European Investment Bank and FMO. I&M Bank has completed 2 acquisitions, including Giro Commercial Bank and Orient Bank. Its website imbank.com draws about 205 thousand monthly visits. Its focus areas include Banks and Commercial Banks. Its competitors include Sidian Bank, Family Bank and Diamond Trust Bank; 2 of its 3 listed competitors have raised funding.
Company details
IM Bank was established in 1974 in Nairobi, Kenya, as a commercial bank by founder and chairman S B R Shah. Operations are focused on providing retail and corporate banking services, including loans, deposits, and investment products. The bank serves customers across Kenya through its network of branches and digital platforms, with emphasis on financial solutions for businesses and individuals in the region.
- Headquarters Nairobi, Kenya
- Founders S B R Shah
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website imbank.com
- Social LinkedIn Facebook
- Acquired by Kibo Capital Partners (Jan 2010)
- Total Equity Funding$50M (USD)
in 8 rounds
- Latest Funding Round$50M (USD), Debt – Conventional
Aug 2021
- InvestorsInternational Finance Corporation
& 5 more
- Investments & AcquisitionsGiro Commercial Bank
& 1 more
- Acquired byKibo Capital Partners
(Jan 2010)
Funding Insights of I&M Bank
I&M Bank has successfully raised a total of $50M across 8 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $50 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $50M
- Total Rounds 8
- Last Round Debt – Conventional — $50M
- First Round $50M
(Sep 2016)
- Investors Count 5
All 8 funding rounds of IM Bank with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2021 | $50M | Debt – Conventional | – | – | |
| Jul 2021 | Angel Round | – | – | – | |
| Dec 2020 | $10M | Debt – Conventional | – | – | |
| Mar 2020 | Private Equity Round | – | Africinvest | – | |
| Oct 2018 | $40M | Debt – Conventional | – | – | |
| May 2018 | $10M | Debt – Conventional | – | – | |
| Feb 2018 | $40M | Debt – Conventional | – | – | |
| Sep 2016 | $50M | Private Equity Round | – | – |
6 investors in total: 6 institutional.
Investors in I&M Bank
I&M Bank has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include International Finance Corporation, European Investment Bank and FMO.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
IFC is focused on private sector development in emerging markets. | 1956 | ifc.org | ||
Development financing is provided for entrepreneurial ventures in emerging markets. | 1970 | fmo.nl | The Hague, Netherlands | |
Private equity firm | africinvest.com | Paris, France | ||
Finance and advisory services for infrastructure projects are provided. | 1958 | eib.org | Luxembourg, Luxembourg | |
Government agency focused on small and medium-sized businesses | 1948 | bii.co.uk | London, United Kingdom | |
PE firm investing in Africa | kibo-capital.com | Ebene City, Mauritius |
Investor details for IM Bank
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People of I&M Bank
19 people are tracked at I&M Bank (7 in leadership, 7 in board & advisors, 5 in team).
| Name | Role | Group |
|---|---|---|
S B R Shah | Founder & Chairman | Leadership |
Sarit S. Raja Shah | Group Executive Director | Leadership |
Charles Kiirya | Head Of Credit | Leadership |
Sam Ntulume | Executive Director And Chief Operations Officer | Leadership |
Kathy Turinawe | Head Of Human Resources | Leadership |
Timothy Musiime | Chief Financial Officer | Leadership |
Nakiyaga Annette | Head Of Marketing And Corporate Communications | Leadership |
Michael Turner | Independent Non-Executive Director | Board & advisors |
Daniel Ndonye | Independent Chairman | Board & advisors |
Sachit Shah | Non-Executive Director | Board & advisors |
Nyambura Koigi | Independent Non-Executive Director | Board & advisors |
Suleiman Kiggundu | Non-Executive Director | Board & advisors |
Rose Kinuthia | Independent Non- Executive Director | Board & advisors |
Allan Christopher Michael Low | Regional Director | Board & advisors |
Faith Birungi | Reconciliation Analyst | Team |
Nuh Mukiibi | Recruitment And Sourcing | Team |
Douglas Mwesigwa | Financial Controller | Team |
Judith Otaok | Banking Executive. | Team |
Shisa Mathan | Bancassurance Specialist | Team |
Complete people profiles for I&M Bank
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- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Investments & Acquisitions by I&M Bank
I&M Bank has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Giro Commercial Bank and Orient Bank.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Commercial banking services are provided in Kampala, Uganda. | orient-bank.com | Kampala, Uganda | 1993 | Apr 2021 | •••• | |
Commercial bank | girobankltd.com | Nairobi, Kenya | 1993 | Feb 2017 | •••• |
Complete acquisition details for IM Bank
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- Complete history
- Exports
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Timeline of I&M Bank
6 dated milestones of I&M Bank across 47 years, from founding to its latest funding, stage changes and deals.
- Founded I&M Bank is founded.
- Exit Acquired by Kibo Capital Partners.
- Funding First funding round of $50.0M.
- Acquisition Acquires Giro Commercial Bank.
- Acquisition Acquires Orient Bank.
- Funding Latest funding round, Debt – Conventional, of $50.0M.
Competitors of I&M Bank
I&M Bank has 3 listed competitors in our database, 2 of them funded. They include Sidian Bank, Family Bank and Diamond Trust Bank.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| sidianbank.co.ke | 1984 | Nairobi, Kenya | $11.93M | Commercial banking services are provided in Kenya by Sidian Bank. | ||
| familybank.co.ke | 1984 | Nairobi, Kenya | $2.67M | Commercial banking services are offered to clients in Kenya. | ||
| dtbafrica.com | 1945 | Nairobi, Kenya | Commercial bank |
Detailed competitors of IM Bank
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Web traffic of I&M Bank
The website of I&M Bank (imbank.com) receives about 205K visits a month.
- Monthly visits205K
▼ 13.4% vs previous month
Websites whose visitors overlap most with I&M Bank. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
imbankgroup.com | imbankgroup.com | 100% | #301,902 | – | |
kcbbankgroup.com | kcbbankgroup.com | 90% | – | ||
| stanbicbank.co.ke | 76% | 91.7K | #218,672 | View details | |
cba.co.ke | cba.co.ke | 71% | – | ||
| nic-bank.com | 70% | #1,999,381 | View details | ||
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 21 similar websites and full traffic analytics for I&M Bank
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- 21 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
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Related news about I&M Bank
Complete news archive for IM Bank
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Frequently Asked Questions about I&M Bank
I&M Bank was founded in 1974 and raised its 1st funding round 42 years after it was founded.
I&M Bank is headquartered in Nairobi, Kenya.
I&M Bank is a funded company, having raised a total of $50M across 8 funding rounds to date. The company's 1st funding round was a Private Equity Round of $50M, raised on Sep 2016.
IM Bank was established in 1974 in Nairobi, Kenya, as a commercial bank by founder and chairman S B R Shah. Operations are focused on providing retail and corporate banking services, including loans, deposits, and investment products. The bank serves customers across Kenya through its network of branches and digital platforms, with emphasis on financial solutions for businesses and individuals in the region.
I&M Bank's top competitors include Sidian Bank, Family Bank and Diamond Trust Bank.
I&M Bank has made 2 acquisitions, including Giro Commercial Bank, and Orient Bank.
I&M Bank has 6 investors. Key investors include International Finance Corporation, European Investment Bank, FMO, British International Investment, and Africinvest.
Yes. I&M Bank was acquired by Kibo Capital Partners in January 2010.
The website of I&M Bank receives about 205 thousand visits a month.