I&M Bank splashes Sh300m on CSR

I&M Bank has set aside Sh300 million to empower communities around the country.

Executive Director Sarit Shah said the bank plans to reach out to under-privileged members of society in three social pillars of health, education and environment.

“Each year, I&M Bank sets aside two per cent of its pre-tax profits, which is kept under a fund to support various social initiatives in the areas of health, education and environment,” said Mr Shah during the launch of a two-day free medical camp at St Martins Kibagare Primary School in Loresho on Friday.

He said in addition to the health initiative, the bank is putting up St Ann’s Suresh Raja Shah Girls Secondary School, Kairi, at a cost of Sh200 million.

The school is expected to be completed before the end of next year.

The bank has also set aside Sh4.5 million and Sh3.5 million for environment and health initiatives respectively.

“We have broken ground for the school project and the construction is going on. We are also actively involved in the conservation of Karura Forest where our staff plant trees and clean Karura River every year,” said Mr Shah.

The bank has recorded growth in pre-tax profits over the last four years, with the Group’s profit before tax hitting Sh8.6 billion last year.