NAIROBI, Kenya, Aug 18 – I&M Group has posted a 34 percent rise in profit before tax for the first half of 2025, hitting Sh11.7 billion compared to Sh8.7 billion in the same period last year.
The lender attributed the growth to strong operating revenues across its regional markets, where subsidiaries in Rwanda, Tanzania, Uganda, and Mauritius contributed 24 per cent of overall profit before tax.
“The subsidiary markets’ contribution of 24 per cent to the Group’s Profit Before Tax underscores the success of our regional expansion strategy,” said Regional CEO Kihara Maina.
“By leveraging cross-market collaboration and investing in digital innovation, we are building a resilient and diversified business that consistently delivers value to our shareholders and customers across East Africa.”
The Group’s balance sheet expanded by 4 per cent to Sh589 billion, with loans closing at Sh290 billion and customer deposits at Sh429 billion.
Net non-performing loans fell from Sh14.7 billion to Sh10.9 billion, reflecting tighter credit risk management.
Operating income rose 21 per cent, driven by a 24 percent increase in net interest income. Loan loss provisions climbed to Sh4.1 billion from Sh3.5 billion, while operating expenses excluding provisions grew by 11 percent due to higher investments in technology, staffing, and branch expansion.
I&M Bank Kenya, the Group’s flagship business, recorded a 31 per cent rise in profit before tax, supported by double-digit growth in retail and corporate banking.
The bank onboarded more than 110,000 new customers this year and reported customer satisfaction levels of 81 per cent.
“Our half-year results reflect our continued commitment to delivering relevant solutions and a superior customer experience. The strong double-digit growth across both our retail and corporate segments is a testament to the trust our customers place in us,” said I&M Bank Kenya CEO Gul Khan.
Regionally, I&M Bank Rwanda posted a 45 per cent rise in profit before tax, I&M Tanzania reported Sh582 million up from Sh408 million, and I&M Uganda delivered a 23 percent growth in profit. In Mauritius, Bank One — the Group’s joint venture with CIEL Group — saw a 25 per cent increase.
The lender said it remains optimistic about its outlook, citing digital innovation and regional diversification as the key growth drivers for the second half of 2025.
