I&M Group Reports 34% Profit Growth, Driven by Strong Regional and Digital Expansion
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I&M Group PLC has reported a 34 per cent rise in its profit before tax for the first half of 2025.
This amounted to Sh11.7 billion compared to Sh8.7 billion in the same period last year, which the group has attributed to strong revenues across all its markets and the continued success of its regional diversification strategy.
The Group’s subsidiaries in Rwanda, Tanzania, Uganda, and Mauritius contributed 24 per cent of overall profit, underscoring the growing strength of its cross-border operations.
“The subsidiary markets’ contribution of 24 per cent to the Group’s Profit Before Tax underscores the success of our regional expansion strategy,” I&M Group Regional Chief Executive Officer, Kihara Maina stated.
“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,” he added.
The Group’s total assets rose 4 percent year-on-year to Sh589 billion, while customer deposits increased 2 per cent to Sh429 billion.
The loan book expanded by 2 per cent to close at Sh290 billion.
Net Non-Performing Loans fell from Sh14.7 billion to Sh11.9 billion, reflecting prudent credit risk management. Operating income surged by 21 per cent, driven largely by a 24 per cent rise in Net Interest Income. Loan loss provisions increased to Sh4.1 billion from Sh3.5 billion last year, showing sustained caution in asset quality management.
Operating expenses, excluding provisions, were up 11 per cent, attributed to continued investment in technology, staff, and branch expansion.
The Group’s flagship business, I&M Bank Kenya, delivered a 31 per cent increase in profit before taxon the back of robust growth in Net Interest Income.
Operating income expanded by 21 per cent year-on-year. The Bank also grew its customer base by over 110,000 in 2025, while maintaining industry-leading customer satisfaction at 81 percent.
“Our half-year results reflect our continued commitment to delivering relevant solutions and a superior customer experience,” I&M Bank Kenya Chief Executive Officer, Gul Khan said.
“The strong double-digit growth across both our retail and corporate segments is a testament to the trust our customers place in us,” he added.
The Bank also scooped multiple accolades at the 2025 Think Business Awards, including Best Bank in Retail, Best Bank in Product Innovation, and Best Bank in Product Marketing.
Regionally, I&M Bank Rwanda posted a 45 per cent increase in profit before tax, while I&M Bank Tanzania grew profits to Sh582 million from Sh408 million. I&M Bank Uganda achieved a 23 per cent profit rise, with assets crossing 1.1 trillion Uganda Shillings.
Bank One in Mauritius, a joint venture with CIEL Group, registered 25 per cent profit growth.
With 86 per cent of its regional customers now digitally active, up from 78 per cent last year, the Group says it is well-positioned for sustainable expansion.
The Group remains optimistic about its performance for the remainder of the year, anchored on its strong regional presence and strategic investments in digital innovation to drive inclusive and sustainable financial growth for its customers across East Africa.
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