I&M Bank has reported a 36% rise in net profit to Ksh. 8.31 billion in the first half of 2025. This is as compared to Ksh. 6.1 Billion the which was posted in a similar period last year.
The rise in profitability was on the back of a 24% rise in net interest income to Ksh 20.43 billion, driven by higher lending returns and effective management of funding costs. Non-interest income rose 13% to KSh 6.95 billion, lifted by fee income and bancassurance revenues, which expanded 15% to KSh 352.7 million.
On the other hand, operating expenses rose 13% to KSh 16.09 billion. This was largely driven by a 17% rise in provisions for bad debts to Ksh 4.1 billion.
Total assets grew by 4% year-on-year to close at KES 589 billion while the loan portfolio grew by 2% to close at KES 290 billion. Customer deposits increased by 2% to KES 429 billion. While Net Non-Performing Loans declined from 14.7 billion to 11.9 billion, reflecting prudent credit risk management.
Regional subsidiaries contributed 24% of Group profit before tax, compared to 26% in H1 2024.
- Rwanda remained the largest contributor outside Kenya, posting KSh 1.6 billion in PBT, equivalent to 15% of Group earnings, on assets of KSh 82.4 billion.
- Tanzania delivered KSh 0.58 billion PBT, 5% of Group earnings, with assets of KSh 42.4 billion.
- Uganda contributed KSh 0.21 billion, a 23% improvement, with assets up 19% to KSh 40.3 billion.
- In Mauritius, I&M’s joint venture added KSh 0.89 billion in PBT from assets of KSh 184.5 billion.
Mr. Gul Khan, I&M Bank Kenya CEO, said, “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. We will continue to invest in both our physical channels and digital transformation as we expand our reach to serve more Kenyans, empowering them to achieve their financial goals.”