The story
The bank started operations in Tanzania in 2002 as CF Union Bank, with headquarters in Dar-es-Salaam. By 2010 it operated two branches in Dar-es-Salaam and a third branch in Arusha. In January that year, the shareholders of CF Union Bank sold the bank to a consortium headed by I&M Bank Group. Other investors in the consortium included PROPARCO, the French Development Agency, Kibo Fund, a private equity firm based in Mauritius and Michael Shirima, a Tanzanian businessman who is the largest shareholder in Precision Air. In September 2010, the bank changed its name from CF Union Bank to I&M Bank (Tanzania) Limited, to reflect the new ownership.
From Wikipedia’s article on I&M Bank Tanzania Limited, shared under CC BY-SA 4.0.4