I&M Reports 26% Growth in Profit Before Tax for Q3 2025

I&M Group PLC has posted a 26% year-on-year increase in Profit Before Tax (PBT) to KES 17.8 billion for the third quarter of 2025, up from KES 14.1 billion in the same period last year. Profit After Tax (PAT) also rose by 27% to KES 12.7 billion, reflecting sustained earnings and momentum across the business.

This performance reflects the Group’s growth strategy, gaining traction across its regional markets, with a continued focus on customer-centric innovation, operational efficiency, and regional expansion.

The Group’s regional subsidiaries contributed 23% to the overall PBT, underscoring the strength of its diversified footprint across East Africa and Mauritius.

Key Financial Performance Highlights

Balance sheet highlights

• Total Assets rose by 13% to KES 640 billion.
• Loan portfolio expanded by 7% to KES 302 billion.
• Customer deposits increased by 10% to KES 456 billion, driven by growth in both CASA and term deposits.
• Net Non-Performing Loans declined by 27% year-on-year to KES 10 billion, reflecting prudent risk management.

 Income Statement Performance

• Operating income grew by 20%, supported by a 21% rise in both Net Interest Income and non-funded income.
• Loan loss provisions stood at KES 6.7 billion, up from KES 5.5 billion, as the Group maintained a disciplined approach to asset quality.
• Operating expenses (excluding provisions) increased by 14% to KES 19.1 billion, reflecting strategic investments in technology, talent, and branch expansion.

Following the strong financial and operational performance recorded for the year to date, the Board of Directors has approved an interim dividend of KES 1.50 per share, representing a 15% increase from the KES 1.30 declared in the same period in 2024, underscoring the Group’s commitment to delivering sustained value to its shareholders.

I&M Bank Kenya

I&M Bank Kenya delivered a 26% year-on-year increase in Profit Before Tax, driven by a 21% uplift in total operating income. The Bank’s total assets grew by 8%, supported by a steady rise in customer deposits of 10% to KES 439 billion and loans and advances growth of 2% to 218 billion, underscoring the Bank’s strong financial position.

During the period under review, the Bank’s continued focus on delivering relevant financial solutions for the Retail and MSME segments led to double-digit customer growth and a notable surge in brand awareness, rising from 21% to 34%, the fastest gain recorded in the sector.

The Bank continues to demonstrate its customer-first approach and has maintained an NPS score of above 70%.  Despite a challenging macroeconomic environment, the Bank’s NPL ratio remains below the industry average.

Commenting on the results, Mr. Kihara Maina, Regional CEO & Interim CEO of I&M Bank Kenya, said, “Our performance demonstrates the strength of our strategy, the confidence of our stakeholders, and the trust our customers continue to place in us. We remain committed to delivering sustainable growth while elevating customer experiences through digital-first solutions for individuals and businesses such as Solo Biz and I&M FX Direct, designed to empower businesses across Kenya. We continue to offer free Bank to Mobile Money transfers as well as a one-stop mobile banking platform – the I&M On-the-Go App.”

Across the country, I&M Kenya continued to deepen customer connection through digital-first solutions, targeted customer campaigns such as the Shinda Milioni campaign, Card Reward programs as well as MSME business forums and business trips. In Q3 2025, 78% of customers were digitally active, with 81% of transactions occurring outside branches, demonstrating the Group’s commitment to convenience, inclusion, and customer-led transformation.

Regional Performance Highlights

I&M Rwanda reported a 5% increase in operating income and a 21% growth in Profit Before Tax for the period under review. This strong performance was fueled by increased economic activity in the country, with loans and deposits growing by 28% and 20% respectively. When measured in local currency, loans and deposits recorded an impressive growth of 38% and 29% respectively, year-on-year, driving an increase in Net Interest Income.

I&M Tanzania recorded a 40% growth in operating income to KES 4.5 billion and a 35% increase in operating profit, driven by recoveries and higher net interest income. Total assets and loans and advances grew by 26% and 22% respectively (14% and 10% in local currency respectively), while customer deposits rose by 16% (5% in local currency).

I&M Uganda recorded a marginal decline in operating income. However, total assets grew by 25% year-on-year to KES 46 billion (in KES terms), supported by notable growth of 21% in both the loan and deposit books. In local currency, the loan and deposit books grew by 15% and 14% respectively.

Bank One, Mauritius, the Group’s Joint Venture investment in Mauritius, recorded a 4% year-on-year increase in profit before tax in local currency. Net loans and advances declined by 4%, while total assets and customer deposits grew by 27% and 32% respectively in KES terms (26% and 31% growth respectively in local currency), underscoring the Bank’s resilience and adaptability in a competitive market.

Reflecting on the Group’s performance, Mr. Kihara added, “I&M Group’s performance this quarter is a reflection of our disciplined execution, continued investment in innovation, and unwavering commitment to our customers. We are seeing our footprint and segment expansion translate to tangible value creation, where each market is now a distinct engine of growth for the Group. As we advance our ambition to become East Africa’s leading financial partner for growth, we remain focused on delivering solutions that empower businesses and individuals to thrive, and we will continue to build on this momentum to create sustainable value across all the markets we serve.”

As the financial landscape becomes increasingly digital, borderless, and inclusive, I&M Group is well-positioned to lead this transformation, delivering relevant, customer-first solutions that offer convenience, flexibility, and security to our customers.

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