I&M Group Plc recorded a marginal increase in Net Profit to KSh 8.6 Billion in 2021 compared to Profit After Tax of KSh 8.4 Billion over a similar period in 2020.
The Group’s loan book grew from KSh 187.4 Billion in 2020 to KSh 210.6 Billion in 2021.
The Balance Sheet grew from KSh 358.1 Billion in 2020 to KSh 415.2 Billion in 2021.
Customer deposits increased significantly from KSh 262.7 Billion in 2020 to KSh 296.7 Billion in 2021.
The Group’s Total Shareholders’ Equity, the amount that owners of the lender would be paid was the business to be liquidated, increased from KSh 64.2 Billion in 2020 to KSh 69.6 Billion in 2021.
I&M Group’s Total Interest Income, from loans, government securities, deposits with other banking institutions and other interest income, increased from KSh 27.8 Billion. Total Interest Expense declined from KSh 12,248,980,000 in 2020 to KSh 12, 204,574,000 in 2021.
Therefore, the lender’s net interest income increased from KSh 15.6 Billion in 2020 to KSh 20.9 Billion in 2021.
Non-interest, derived from fees and commissions, forex trading, dividend income and other income, increased marginally from KSh 8.6 Billion in 2020 to KSh 8.7 Billion in 2021.
I&M Group Total Operating Income increased from KSh 24.2 Billion in 2020 to KSh 29.6 Billion in 2021.
The Group nearly doubled its loan loss provisions from KSh 2.5 Billion in 2020 to KSh 4.2 Billion in 2021, while its Pre-Tax Profit increased from KSh 11.6 Billion in 2020 to KSh 11.9 Billion in 2021.
Earnings per Share, which measures a firm’s profitability, improved from KSh 4.88 in 2020 to KSh 4.92 in 2021.
I&M Group Directors have recommended a dividend of KSh 1.50 per share, amounting to KSh 2,480,432,214 for the year ended 31st December 2021. A dividend of KSh 1.125 per share amounting to KSh 1,860,324,161 for 2020 was paid on May 20th 2021.
The Company’s Register will close on Thursday, 21st April 2022, and shareholders will be paid on or around 26th May 2022.
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