PROJECT

Projects

Summary of Investment Information

Project Number

44168

Company Name

I AND M BANK LTD

Date SPI Disclosed

May 19, 2021

Country

Kenya

Region

Africa

Projected Board Date

Mar 31, 2021

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jul 23, 2021

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : May 5, 2021
Signed : Jun 9, 2021
Invested : Jun 28, 2021

Sector

Commercial Banking - General

Project Description

 The Project consists of a Tier 2-qualifying subordinated loan of US$ 50 million to I&M Bank Limited, Kenya (“I&MK” or the “Bank”), the largest subsidiary of  I&M Holdings Plc (“I&MH” or the “Group”). The facility will have a maturity of up to 7 years, with a 5-year grace period to conform to the Central Bank of Kenya’s Tier 2 capital requirements. The proposed investment will provide I&MK with a subordinated loan which will qualify as tier 2 capital under the laws and regulations of Kenya, enhancing the Bank’s capitalization and to be used for financing its lending operations in respect of small and medium enterprises (“SMEs”).

Associated Advisory Engagement

  There is no advisory services engagement associated with this investment.    

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation