Orient Bank

Established in 1993, Orient Bank Limited was a private sector commercial bank in Uganda, now operating as I&M Bank (Uganda) Limited. It was founded by Ketan Morjaria and his family. Born in Uganda, Mr. Morjaria is a chartered accountant who identified a need in the local market for a more flexible and customer-centric banking alternative to the rigid institutions of the time. His vision was to create a trustworthy institution focused on fairness and the needs of Ugandan businesses.

The bank commenced operations with a mission to serve the Ugandan business community and the general public, building a reputation on professional management and prudent financial policies. A key milestone in its early history was the 2002 acquisition of the insolvent Trans-Africa Bank, which solidified its market presence. The bank's journey also reflects changes in Uganda's regulatory landscape. Following the 2004 Financial Institutions Act, which limited family ownership in banks, Orient Bank underwent several ownership changes. In 2009, Nigeria's Bank PHB Group acquired an 80% stake, which was later passed to Keystone Bank. By 2015, Keystone divested, with private equity fund 8 Miles and other individual shareholders, including a returning Dr. Morjaria, acquiring stakes.

A pivotal moment occurred in April 2021, when I&M Group PLC, a regional financial services group based in Kenya, acquired a 90% majority stake in Orient Bank. This transaction, valued at over $33 million, was a strategic move for I&M Group to establish its presence in all East African countries. For Orient Bank, it provided access to a larger regional network, enhanced digital infrastructure, and greater financial capacity. Following the acquisition, Orient Bank officially rebranded to I&M Bank (Uganda) Limited in November 2021. Before the acquisition, the bank served nearly 70,000 customers through 14 branches and 22 ATMs. The bank offers a comprehensive suite of commercial banking services for corporate, SME, and retail clients, including treasury, trade finance, and digital banking solutions like internet and mobile banking. Following the merger, offerings expanded to include investment banking, wealth management, and offshore banking services through the group's subsidiaries.

Keywords: I&M Bank Uganda, financial services Uganda, commercial banking, corporate banking, SME banking, retail banking, trade finance, wealth management, investment banking, digital banking, East Africa finance, Ketan Morjaria, I&M Group, banking acquisition, Ugandan financial sector, Kampala banking