Listed lender I&M Group PLC has reported a 36% rise in profit after tax to KSh 8.31 billion in the first half of 2025, supported by growing net interest income, resilient non-interest income, and increasing contributions from its regional subsidiaries.
- •The bank’s net interest income grew 24% 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.
- •The balance sheet expanded modestly, with total assets rising 4% to KSh 588.92 billion.
The bank’s operating income reached KSh 27.39 billion, a 21% increase from H1 2024, while operating expenses rose 13% to KSh 16.09 billion.
Customer deposits grew 2% to KSh 429.37 billion, while net loans and advances were up 2% to KSh 290.26 billion.
Provisions for loan losses increased 17% to KSh 4.1 billion, even as net non-performing loans declined to KSh 11.88 billion, down from KSh 13.40 billion in June 2024. Gross NPLs stood at KSh 34.37 billion, slightly lower than the prior year with the NPL ratio declined to 11.8%.
Earnings per share climbed to KSh 4.51, up 38% from KSh 3.27 a year earlier. Shareholders’ equity also jumped 23% to KSh 106.52 billion, above the 100Bn mark for the very first time.
| Metric | H1 2025 | H1 2024 | YoY % |
|---|---|---|---|
| Net Interest Income | 20.43 Bn | 16.51 Bn | +23.7% |
| Non-Interest Income | 6.95 Bn | 6.16 Bn | +12.9% |
| Operating Expenses | 16.09 Bn | 14.29 Bn | +12.6% |
| Operating Income | 27.39 Bn | 22.67 Bn | +20.8% |
| Profit Before Tax (PBT) | 11.30 Bn | 8.39 Bn | +34.7% |
| Profit After Tax (PAT) | 8.31 Bn | 6.10 Bn | +36.4% |
| Total Assets | 588.92 Bn | 564.38 Bn | +4.4% |
| Total Equity | 106.52 Bn | 86.40 Bn | +23.3% |
| Customer Deposits | 429.37 Bn | 419.35 Bn | +2.4% |
| Loans and Advances (Net) | 290.26 Bn | 284.15 Bn | +2.1% |
| Gross NPLs | 34.37 Bn | 34.84 Bn | -1.4% |
| Earnings per Share (EPS) | 4.51 | 3.27 | +37.9% |
Regional and Business Contributions
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.
I&M Capital, the Group’s asset management arm, reported a sharp increase in assets under management, which surged 238% to KSh 70 billion.
