Suresh Bhagwanji Shah founded I&M Bank Limited in 1974 and served as its chairman until 2021, when he retired.
Shah transformed what began as a modest financial services provider into one of East Africa’s most influential banking groups.
The bank operates across Kenya, Tanzania, Rwanda, and Mauritius.
Under his stewardship, I&M Bank evolved from a Tier 3 institution into a formidable Tier 1 lender.
By the time he stepped down as Chairman in 2021, the bank’s asset base had grown to over Ksh 305 billion.
Shah currently serves as the Chairman of the I&M Bank Foundation and as a Non-Executive Director at I&M Group Plc.
He is also a former Chairman of GA Insurance Ltd, further broadening his footprint in the insurance and financial services industries.
Suresh Bhagwanji Achievements
In recognition of his outstanding contribution to Kenya’s banking industry and national development, Shah was conferred with the honor of Moran of the Order of the Burning Spear (MBS) in December 2002.
His leadership legacy continues to influence policy and business thinking within Kenya’s financial circles.
Shah retired as Chairman after an illustrious 47-year tenure.
Despite stepping back from the chairmanship, Mr. Shah remains an active force within the boardroom — offering strategic direction and mentorship as I&M Group continues to expand its reach across the region.
His vision, discipline, and commitment to excellence have not only built one of East Africa’s largest banking empires but also cemented his place as one of Kenya’s most respected business leaders.
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About I&M Bank
The Bank is a regional commercial bank in East Africa, headquartered in Nairobi, Kenya. It was founded in 1974 as a financial services company and later converted to a commercial bank.
I&M Bank is a wholly owned subsidiary of I&M Group PLC (previously known as I&M Holdings PLC), a public company listed at the Nairobi Securities Exchange (NSE).
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.
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I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank (T) Limited, Tanzania, and I&M Bank (Rwanda) Plc, Rwanda, and I&M Bank Uganda Ltd.
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.
I&M Group PLC recorded a Profit Before Tax of Ksh 20.8 billion for the period ended 31 December 2024, representing 25% growth driven by increased operating income and strategic focus on MSME lending and digital transformation.
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He is an inspiration to us. Unemployed Citizens