IM Bank
“Can I&M Group become Eastern Africa's leading full-service digital banking group by modernizing its retail and SME banking platform across five countries?”
The 'IM Bank' name encompasses two distinct banking entities: I&M Bank (I&M Group PLC), a pan-East African banking group headquartered in Nairobi with operations in Kenya, Rwanda, Tanzania, Uganda, and Mauritius, founded in 1974; and IM Bank (formerly Daegu Bank), a South Korean regional bank under IM Financial Group (formerly DGB Financial Group) based in Daegu. The East African I&M Group has grown organically into a multi-country banking group offering retail, SME, and corporate banking. The South Korean IM Bank rebranded from DGB/Daegu Bank to IM Financial Group/IM Bank in March 2025, signaling a modernization push. Both entities are expanding digital banking capabilities, with the East African entity deploying Backbase for digital banking transformation and OpenWay Way4 for card issuance in Tanzania.