Companies

I&M names new company secretary as Ndunge quits

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I&M Bank branch. FILE PHOTO | NMG

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Summary

  • The appointment, which took effect immediately, will see Ms Mwangi, an Advocate of the High Court, take over as the chief administrator of the company.
  • This will see her ensure that the board’s decisions are implemented in a strategic effort aimed at driving the company to attaining tier-one bank status.
  • Ms Mwangi is a member of the Institute of Certified Public Secretaries of Kenya. She holds a master’s degree from United States International University and has a wealth of experience with companies in the private sector.
  • I&M reported a Sh3.867 billion profit after tax in the six months to the end of September, down from Sh4.970 billion during a similar period last year, a fall of 22.2 per cent.
  • The company’s interest income also fell slightly to Sh15.169 billion from Sh15.799 billion in a similar period last year.

Financial services firm I&M Holdings has appointed lawyer Bilha Wanjiru Mwangi as the company secretary following the resignation of Virginia Ndunge.

The appointment, which took effect immediately, will see Ms Mwangi, an Advocate of the High Court, take over as the chief administrator of the company.

This will see her ensure that the board’s decisions are implemented in a strategic effort aimed at driving the company to attaining tier-one bank status.

“Notice is hereby given for the appointment of Ms Bilha Wanjiru Mwangi as the company secretary, with effect from December 20 and the simultaneous resignation of Ms Virginia Ndunge,” said the company in a public notice in a local daily.

Ms Mwangi is a member of the Institute of Certified Public Secretaries of Kenya. She holds a master’s degree from United States International University and has a wealth of experience with companies in the private sector.

I&M reported a Sh3.867 billion profit after tax in the six months to the end of September, down from Sh4.970 billion during a similar period last year, a fall of 22.2 per cent.

The company’s interest income also fell slightly to Sh15.169 billion from Sh15.799 billion in a similar period last year.

However, revenue from other incomes such as fees and commissions on loans and advances rose by 1.09 per cent to Sh3.276 billion from Sh2.996 the previous year.