Suresh Bhagwanji Shah’s stake in I&M Group surges past $36 million
The recent rally in I&M Group's shares on the Nairobi Securities Exchange has significantly boosted Shah's fortune.
The recent rally in I&M Group's shares on the Nairobi Securities Exchange has significantly boosted Shah's fortune.
The transaction, valued at Ksh4.2 billion ($32.4 million), marks a significant shift in the region's banking landscape.
The recent acquisition of BII’s stake by the local investor enhances I&M Group’s local ownership and strengthens its market understanding and operational agility.
Kenyan financial services group I&M Group, founded by businessman Suresh Bhagwanji Shah, added 299 new jobs last year in its growth initiative
Renowned Kenyan businessman Suresh Bhagwanji Shah has encountered a significant downturn in the market value of his stake in I&M, mirroring a…
The collaboration, which has been instrumental in driving Kenya’s digital payments landscape, will provide enhanced value propositions for cardholders across the country.
This contrasts sharply with the $6.9-million profit he made between Feb. 14 and March 26 when the value of his I&M Bank Group stake soared from $23.47 million to $30.43 million.
The group kicked off its Kenyan expansion in mid-January with the inauguration of eight new branches.
Over the past 41 days, I&M shares have experienced a notable upturn, resulting in an increase of Ksh919.35 million ($6.97 million) in the market value of Shah’s holdings.
The newly unveiled branches bring the total I&M Group branch network to 93 in the region. Out of these, 49 are strategically positioned throughout Kenya.
Shah is credited with transforming I&M into one of East Africa’s leading banking groups.
Shah is a top figure in Kenya’s banking industry. He is renowned for founding I&M Group.
Shah owns a beneficial 10.98-percent stake in I&M Bank Group, translating to 178,514,362 ordinary shares.
This $1.13-million increase solidifies Shah’s position as one of the richest investors on the Nairobi Securities Exchange.
The $1.45-million increase solidifies Shah’s position as one of the richest investors on the Nairobi Securities Exchange.