KENYA – Financial services firm, I&M Bank Limited, has announced the appointment of Oliver Fowler as its new chairman following the retirement of Suresh Bhagwanji Raja Shah.
Shah is the founder of the bank and has served as its chairman since 1974.
A statement from the bank said Shah will continue to remain on the Board as a Non-Executive Director.
Founder and Chair since its inception in 1974, SBR Shah, a seasoned career banker has led the lender through its myriad of milestones such as acquisitions: of Biashara Bank, Giro Bank, and Youjays Insurance Limited in Kenya.
He also oversaw the development of the Bank into a Financial Services Group that provides diverse solutions such as Real-estate, Financial Advisory and Bancassurance.
In addition, Shah has driven the steady growth of I&M Bank’s asset base to its current US$2.9 billion.
During this tenure, the Bank has moved from a tier 3 Bank to a tier 1 Bank, becoming one of the top profitable banks in the country and has received various awards including: Most Efficient Bank and Best Bank in Internet Banking at the Think Business Banking Awards for several years, as well as the Best Bank in Corporate Governance in East Africa at the annual Banker Africa Awards.
“The bank’s current asset base stands at US$2.9 billion”
Over the years, I&M Bank Limited, through his stewardship, has focused on a relationship based approach to banking, helping nurture relationships with some of Kenya’s fastest-growing corporate organisations.
The Bank has over the years also diversified to other segments being a key financial services provider for Premium, Young Professionals and SME clients.
Simultaneous with its network of 40 branches countrywide, the Bank has successfully integrated a formidable suite of alternate banking channel platforms and e-commerce and Card products anchored on its robust information technology systems to deliver demand-driven digital banking solutions.
The Bank has over the years continued to remain visible in its shared growth agenda through his leadership and has recently set up the I&M Foundation, to promote strategically best practices in sustainable finance.
Mr. SBR Shah has achieved various accolades key among them being the Moran of the Order of the Burning Spear (MBS) awarded by the Kenyan government for his valued contribution in the Kenyan banking sector and the business community.
Oliver Fowler qualified as a Kenyan Advocate and an English Solicitor.
After admission as an English Solicitor, he joined Kaplan & Stratton in 1978 and became a partner in 1981.
His work encompasses commercial work, particularly financial, corporate and taxation matters and has extensive experience in project finance work, capital markets and banking and finance.
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