I&M Group PLC has successfully acquired additional shares in I&M Bank (T) Limited (IMTz), Tanzania. In a notice dated January 13, I&M Group stated that the acquisition increases the Group’s total shareholding in IMTz, including shares held by I&M Bank Limited, from 84.9% to 95.5%.
The shares were previously held by PROPARCO and Microfinance East Africa Ltd (MEAL), following the completion of all corporate and regulatory approvals.
“The Board of I&M Group PLC is pleased to announce the successful acquisition of shares in I&M Bank (T) Limited, Tanzania (IMTz), that were previously held by PROPARCO and Microfinance East Africa Ltd (MEAL), following receipt of all corporate and regulatory approvals,” read part of the notice.
The group added that the move reflects its confidence in Tanzania’s growing financial sector and reinforces its commitment to supporting economic development and financial inclusion in the country.
The Board also thanked PROPARCO and MEAL for their longstanding partnership and contributions to the bank’s growth and success.
Other Ownership Structures at I&M Group PLC
British International Investment, a development finance institution wholly owned by the government of the United Kingdom, owns approximately 10.68% of I&M Group Plc, the holding company of the bank.
I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank (T) Limited, Tanzania and I&M Bank (Rwanda) Plc, Rwanda, I&M Bank Uganda Ltd and I&M Bank Kenya.
As of 30th June 2021, the shareholders of I&M Bank included Minard Holdings Limited (21.59%), Tecoma Limited (18.39%), Ziyungi Limited (17.79%), and CDC Group plc (10.13%), with the remaining 32.09% held by other shareholders.
2025 Financial Performance
I&M Group PLC has posted a 26% year-on-year increase in Profit Before Tax (PBT) to Ksh17.8 billion for the third quarter of 2025, up from Ksh14.1 billion in the same period last year.
Profit After Tax (PAT) also rose by 27% to Ksh12.7 billion.
Kenya delivered a 26% year-on-year increase in Profit Before Tax, driven by a 21% uplift in total operating income. The Bank’s total assets grew by 8%, supported by a steady rise in customer deposits of 10% to Ksh 439 billion and loans and advances growth of 2% to 218 billion.
Rwanda reported a 5% rise in operating income and a 21% growth in Profit Before Tax, driven by higher economic activity. Loans and deposits grew by 28% and 20% in Ksh terms, and 38% and 29% in local currency, boosting net interest income.
Tanzania saw a 40% increase in operating income to Ksh 4.5 billion and a 35% rise in operating profit, supported by recoveries and higher net interest income. Total assets, loans, and deposits grew by 26%, 22%, and 16% respectively.
Also Read: I&M Bank to Hike Service Charges Starting May
Uganda experienced a slight decline in operating income, but total assets rose 25% to Ksh 46 billion. Loans and deposits grew 21% in Ksh terms and 15%–14% in local currency.
Bank One, Mauritius, the Group’s joint venture, recorded a 4% profit before tax increase in local currency. Net loans declined 4%, while total assets and deposits grew 27% and 32% in Ksh terms.
Also Read: I&M Group Issues Warning to Shareholders
About Tanzanian Subsidiary
I&M Bank Tanzania is a fast-growing commercial bank offering a full range of corporate, business, premium, and personal banking services.
Headquartered in Dar es Salaam, the bank is a subsidiary of I&M Group PLC, which is listed on the Nairobi Securities Exchange and has a growing regional presence, including operations in Mauritius, Rwanda, Kenya, and Uganda.
Licensed by the Bank of Tanzania, the bank began operations in 2002 as CF Union Bank.
In September 2010, it was rebranded as I&M Bank (Tanzania) Limited to reflect its new ownership.
Currently, the bank operates in major cities such as Dar es Salaam, Arusha, Mwanza, and Moshi, with plans to expand further into other regions.
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