I&M Bank has reported its financial results for the third quarter of 2021 with Profit after tax (PAT) surging 25.1% to Ksh 5.4 Billion mainly on the back of a 34.5% growth in net interest income to Ksh 14 Billion.
Total interest income for the period under review was up 15.7% to Ksh 22.8 Billion as interest expenses declines slightly by 5.2% to Ksh 8.9 Billion.
The lender’s Non Funded Income fell by 3.5% to Ksh 6.2 Billion as other operating income fellby 21% to Ksh 1.6 Billion. Net earnings from forex dealings fell by 14% to Ksh 1.2 Billion as income in form of Fees and commissions rose 13% to Ksh 3.4 Billion.
Customer loans and advances rose 12% to Ksh 207.6 Billion as investments in securities rose by the same margin to 12% to Ksh 102 Billion. Customer deposits increased by 14% to Ksh 288.7 Billion.