About I&M Bank (Tanzania)
I&M Group PLC, formerly known as City Trust Limited (CTL) was incorporated on 16th August 1950 and is one of the oldest companies to list on the Nairobi Securities Exchange (NSE). I&M Holdings was licensed and approved as a non-operating holding company in accordance with the provisions of the Banking Act, Cap 488 Laws of Kenya following a reverse takeover of CTL by I&M Bank Limited in June 2013.
Prior to that, CTL was an investment holding company listed on the Alternative Investment Market Segment (AIMS) of the NSE. Following the reverse takeover, CTL changed its name to I&M Holdings and moved on to the Main Investment Market Segment (MIMS) of the NSE. The Company is regulated by the Capital Markets Authority (CMA) and the Central Bank of Kenya.
I&M Group PLC operates in five countries – Kenya, Tanzania, Rwanda, Uganda and Mauritius through its subsidiaries, affiliates and joint venture investments in each of these countries.
I&M Bank Tanzania Limited is a commercial bank in Tanzania headquartered in Dar es Salaam and a subsidiary of Kenyan based I&M Bank Group. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
As of December 2013, the bank was a mid-sized financial institution, providing banking services to individuals and businesses, with emphasis on serving medium to large corporate clients. At that time, the bank’s total assets were valued at approximately US$175.5 million (TZS:296.6 billion), with shareholders’ equity estimated at US$17.4 million (TZS:29.4 billion).
The bank started operations in Tanzania in 2002 as CF Union Bank, with headquarters in Dar-es-Salaam. By 2010 it operated two branches in Dar-es-Salaam and a third branch in Arusha. In January that year, the shareholders of CF Union Bank sold the bank to a consortium headed by I&M Bank Group. Other investors in the consortium included PROPARCO, the French Development Agency, Kibo Fund, a private equity firm based in Mauritius and Michael Shirima, a Tanzanian businessman who is the largest shareholder in Precision Air.
In September 2010, the bank changed its name from CF Union Bank to I&M Bank (Tanzania) Limited, to reflect the new ownership.
I&M Bank Tanzania Limited is owned by institutions and one private individuals as detailed in the table below:
|Rank||Name of Owner||Percentage Ownership|
|1||I&M Holdings Limited||55.03|
|2||PROPARCO of France||20.0|
|3||Kibo Fund of Mauritius||20.0|
|4||Michael Shirima of Tanzania||4.97|
As of November 2014, I&M Bank (Tanzania) Limited maintains the following networked branches:
Main Branch – Indira Gandhi Street Next to Nida Textiles Mills, Dar es Salaam
Moshi Branch – Rindi Lane Road, Moshi
Oysterbay Branch – Toure Drive & Ghuba Road, 344 Block F, Oysterbay Area, Dar es Salaam
Maktaba Branch – Maktaba Square, Maktaba Street, Dar es Salaam
Kariakoo Branch – 21 Livingstone Street, Kariakoo, Dar es Salaam
Arusha Branch – 4 Block R, Falcon Building, Jakaranda Street, Arusha
Nyerere Road Branch – PSSSF Plaza Building along Nyerere Road
Mwanza Branch – Uhuru StreetMwanza.
I&M Bank (Tanzania) Loan
I&M Bank (Tanzania) lends property and cash loans at the rate you need, there are loans for entrepreneurs and small business owners who need to grow their businesses and capital according to their income. I&M Bank (Tanzania) gives you the opportunity for a businessman & entrepreneur to borrow the amount of money you need. they also offer property and cash loans to government employees and companies click here so you can check the methods and criteria for getting a loan.
Overdraft: A revolving short-term facility used mostly by businesses to meet their short-term working capital needs.
- Extended for working capital requirement
- Interest linked to the Bank’s Base lending Rate or Foreign Currency Base Lending rate (for foreign currency)
- Available in Tanzanian Shillings and US Dollars – Conditions Apply
I&M Bank (Tanzania) Address, Location and Contact Details
24-hour Call Centre: +255 22 2127330-4
- Maktaba Square Building, Azikiwe Street, P O Box 1509, Dar Es Salaam, Tanzania
Job Vacancies, career and Internships at I&M Bank (Tanzania)
NMB uses creative recruitment practices that ensure all applicants are carefully evaluated. I&M Bank (Tanzania) Job vacancies are normally advertised through the Official I&M Bank (Tanzania) Tanzania career website page which can be accessed through this link – https://imbank.bamboohr.com/jobs/
Find and apply for jobs advertised by I&M Bank (Tanzania) by browsing the links listed below:
I&M Bank (Tanzania) useful links
- I&M Bank (Tanzania) website: https://www.imbankgroup.com/tz/
- I&M Bank (Tanzania) job vacancies – careers page: https://imbank.bamboohr.com/jobs/
- I&M Bank (Tanzania) Loan: https://www.imbankgroup.com/tz/business/loans/business-loans/