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Key Points
- I&M Group opens Kirinyaga branch as part of nationwide expansion, targeting underserved regions with its solar-powered container branch model.
- CEO Gul Khan says doubling the customer base in two years reflects rising trust and the bank’s commitment to inclusive, accessible financial services.
- Founder Suresh Bhagwanji Shah backs regional growth, including I&M’s $18.55 million acquisition of a flagship headquarters in Tanzania’s business hub.
I&M Group, the financial services conglomerate founded by Kenyan businessman Suresh Bhagwanji Shah, has extended its reach with the opening of a new branch in Kirinyaga County, one of Kenya’s agriculturally rich regions nestled in the foothills of Mount Kenya.
“This move into Kirinyaga is part of our wider effort to build a bank that’s accessible, inclusive, and responsive to the needs of everyday Kenyans,” said Gul Khan, CEO of I&M Bank. “We’re proud of the trust we've built, doubling our customer base in just two years is no small feat, and we remain focused on providing relevant financial solutions in a rapidly changing market.”
I&M expands in underserved markets
Founded in 1974, I&M Group has grown into one of East Africa’s major banking players, operating in Kenya, Tanzania, and Rwanda, and maintaining a joint venture in Mauritius. The group continues to invest in key cities across the region, leaning on innovation and accessibility as it deepens its role in Kenya’s financial sector.
The new branch follows I&M’s container branch model—solar-powered, environmentally friendly, and designed to reach areas that are often underserved. It’s part of the bank’s iMara 3.0 strategy, which focuses on better service for small businesses and everyday customers. By the end of 2026, I&M plans to grow its network to 100 branches across Kenya.
Shah's stake fuels regional expansion
Suresh Bhagwanji Shah, who helped shape I&M into one of the country’s top-performing banks, owns nearly 11 percent of the group, equivalent to 178.5 million shares. He also holds a majority stake in MTZ Holdings, the investment firm that supports I&M’s growth across the region.
Earlier this year, Shah oversaw the acquisition of a landmark commercial building in Tanzania for $18.55 million. Now known as I&M House@1046, the property will serve as the group’s new headquarters in Dar es Salaam and house one of its main branches.
Located in the heart of the city’s business district, the move signals I&M’s long-term investment in Tanzania and its commitment to serving more customers across East Africa.
