I&M Bank starts Giro Bank rebranding after takeover

Business
By Maina Mwangi | Mar 13, 2017

Giro Commercial Bank branch on Banda Street, Nairobi.PHOTO:COURTESY

I&M Bank is rebranding all the seven Giro Commercial Bank Limited (GCBL) branches following an acquisition.

The investment has pushed up I&M Bank Kenya’s network to 43 branches countrywide. Effective February 13, 2017, GCBL ceased to be a bank licensed by the Central Bank of Kenya, with I&M Bank assuming its licensing rights and obligations.

All GCBL stakeholders including depositors, 110 employees, and creditors were taken up by I&M Bank. I&M Bank Chief Executive Kihara Maina said the rebranding will involve outfitting of the seven former GCBL branches to the signature I&M Bank brand identity.

The bank, he added, is currently working on integrating GCBL’s data into I&M Bank’s systems.

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