I&M Bank will over the weekend shut down its branches as well as those of recently acquired Giro Commercial Bank to merge operations of the two lenders.
The takeover of Giro by I&M was completed last month following receipt of regulatory approvals for a transaction that was first announced in 2015.
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“Following the acquisition Giro, we would like to notify you that all I&M Bank branches, including Ex-Giro branches will remain closed on Saturday, April 1, 2017 and Sunday, April 2, 2017 to facilitate systems integration,” said the bank in a statement to its customers. “During this time our alternate banking channels (I-Click internet banking, mobile banking and ATM network) will be available for your use. We regret the inconvenience caused.” The notice says normal services shall resume on Monday, April 3. Following the system integration, customers will be able to transact seamlessly across all accounts and branches under I&M brand.
Giro’s five branches were added to I&M’s network of 36 branches after the acquisition. The ex-Giro branches are Moi Avenue (Mombasa) and Naorobi’s Eldama Ravine Road (Eldama Park), 3rd Parklands Road (Ridge Court), Industrial Area (Dunga Road), and CBD (Banda Street).
Giro ceased to be a bank on February 13, 2017 following its full buyout by I&M. All Giro stakeholders including depositors, employees, and creditors continue their relationship with I&M Bank.