I&M Group PLC has announced a strong 22% increase in Profit After Tax to KES 10.2 billion for the six months ended 30 June 2026, compared with the same period in 2025. This growth was supported by strong operating income across the Group’s markets and an increased contribution from its regional subsidiaries at 33% up from 25%.
The impressive six-month performance reflects the continued execution of the Group’s regional diversification strategy and disciplined implementation of its iMara strategy.
Total operating income increased by 23% to KES 33.7 billion, driven by growth in both net interest income and non-interest income. Profit before provisions rose by 22% to KES 18.7 billion.
Net loans and advances rose by 15% to KES 334 billion as the Group continued to support customers across its corporate, retail and business banking segments. Customer deposits increased by 18% to KES 505 billion, providing a solid funding base for further balance-sheet growth.
The Group maintained a prudent approach to credit-risk management during the period, increasing loan-loss provisions by 38% to KES 5.6 billion. Gross non-performing loans declined by 12% to KES 30.1 billion from KES 34.4 billion in the prior year, while the net non-performing loans ratio improved to 2.3%, from 4.1% in the corresponding period of 2025.
I&M Group made strong progress under its iMara strategy, exceeding several 2026 strategic ambitions. Customer numbers rose to 1.1 million, surpassing the target of over one million, while digitally active customers reached 92%, ahead of the aspiration of more than 90%. The Group’s Net Promoter Score stood at 73%, above the 70% target, reflecting continued improvement in customer experience. The Group also positively impacted 16.8 million lives, significantly exceeding its three-year target of 10 million lives upto the end of FY 2026.
Commenting on the results, I&M Group Regional CEO, Mr. Kihara Maina, said: “Our half-year performance demonstrates the growing strength and resilience of I&M Group across our markets. The strong growth in operating income, combined with the increasing contribution from our regional subsidiaries, reflects the disciplined execution of our diversification strategy and the value of the investments we continue to make in our customers, people, technology and distribution network.
We are particularly encouraged by the performance of our regional businesses, which increased contribution to the Group’s profitability during the period. I&M Capital, our wealth management subsidiary delivered strong revenue growth, underpinned by robust growth in assets under management. We have also maintained a prudent approach to credit risk while strengthening asset quality, capital and liquidity. This positions us well to continue supporting our customers and the wider economies in which we operate.”
As part of its drive to build relevance in emerging customer segments, the Group recorded 41% revenue growth from the MSME segment. Approximately KES 15.7 billion in financing was accessed through digital channels, while digital businesses and ecosystem partnerships contributed 21.7% of Retail and Business Banking operating income, up from 14% in the corresponding period.
The market continued to recognise I&M Group’s financial and strategic progress during the first half of 2026. The Group’s share price rose by approximately 64%, from KES 42.45 at the beginning of the year to KES 69.50 on 30 June 2026, making I&M one of the leading banking counters on the Nairobi Securities Exchange, during the period.
The period under review also saw the Group continue to advance its social-impact agenda, investing close to KES 270 million in impact initiatives. These programmes supported 686 scholarships, empowered more than 20,000 women and youth, and positively impacted approximately over 500,000 lives. This included a KES 1.92 million support in seed capital, scholarships and business support under the Predators’ Den, an entrepreneurship initiative delivered by I&M Foundation in partnership with GIZ and The Maa Trust.
Environmental conservation remained a key priority, with more than 1.45 million trees grown and further progress made towards the I&M Foundation’s commitment to plant one million mangrove trees to restore the degraded coastal ecosystems and strengthen community climate resilience.
I&M Bank Kenya
I&M Bank Kenya remained the Group’s largest market, contributing 67% of Group Profit Before Tax and 69% of total assets.
Profit Before Tax remained broadly stable at KES 8.3 billion as strong revenue growth was offset by higher credit provisions. Loan-loss provisions increased by 34% to KES 4.2 billion reflecting the Bank’s disciplined approach to risk management amid ongoing geopolitical uncertainty and prevailing domestic economic conditions. Operating expenses rose by 21%, reflecting the continued expansion of the branch network and ongoing investment in employees and business growth.
During the period, the Bank further fortified its capital position through the successful issuance of the first tranche of its KES 20 billion Medium-Term Note (MTN) Programme. The issuance attracted significant investor interest, receiving applications worth KES 23.2 billion against an initial target of KES 10 billion, representing a subscription rate of over 232%, signaling a resounding vote of confidence in I&M Bank’s financial strength, strategic direction and long-term growth prospects. The additional capital further strengthens the Bank’s capacity to support future business growth and pursue emerging opportunities, while maintaining healthy capital and liquidity buffers.
At the same time, the Bank’s wealth management businesses maintained strong growth, with the assets under management increasing by 81% to KES 127 billion, while revenue grew by 145% to KES 481 million. I&M Bancassurance Intermediary Limited recorded approximately 50% growth in total revenue to KES 527 million, while Profit Before Tax increased by 56% to KES 425 million.
The Bank also strengthened its brand relevance through purposeful partnerships. I&M Bank committed KES 10 million to Nairobi City Thunder as the club’s Official Banking Partner, supporting Kenyan sport, youth development and homegrown excellence.
The Bank’s team emerged as the Kenya winner of the UN Global Compact SDG Innovation Accelerator Programme 2026, with its solution placed among the top five entries from 22 countries and its finalists selected to represent Kenya at the United Nations General Assembly.
Strong Regional Growth
I&M Group’s regional subsidiaries continued to play a growing role in the Group’s performance, increasing their contribution to the Group Profit Before Tax to 33%, from 25% in the corresponding period of 2025. Cross-border business revenue increased by 39% to USD 6.1 million, reflecting stronger collaboration and commercial activity across the Group’s markets.
- I&M Bank Rwanda delivered strong regional earnings contribution during the period. Profit Before Tax increased by 53% to KES 2.4 billion, supported by a 32% rise in total operating income to KES 5.0 billion. Rwanda’s contribution to the Group Profit Before Tax increased to 20%, from 14% in the prior-year period. The Balance sheet expanded by 44% to close at KES 118 billion up from KES 82 billion driven by growth in customer deposits by 41% and lending by 43%.
- I&M Bank Uganda sustained a strong turnaround in profitability, recording a 225% increase in Profit Before Tax to KES 0.7 billion. Operating income rose by 45% to KES 2.2 billion, supported by a 61% increase in net interest income. The Balance sheet recorded a 44% growth driven by growth in customer deposits from KES 31 billion in June 2025 to KES 40 billion in June 2026.
- I&M Bank Tanzania recorded a 25% increase in operating income to KES 3.5 billion, supported by growth in net interest and non-interest income. Profit Before Tax grew by 8% to KES 0.6 billion as higher prudent credit provisions moderated the benefit of the strong revenue performance.
The Balance sheet expanded by 18% to KES 50 billion from KES 42 billion, supported by continued business growth. Customer deposits increased by 14% to KES 36 billion, while loans and advances grew by 16% to KES 28 billion. - Bank One Mauritius, the Group’s joint venture with CIEL Group, recorded a 14% increase in operating income to KES 2.8 billion, supported by a 30% increase in net interest income from its lending portfolio and treasury investments. Despite sustained business growth, Profit Before Tax declined by 3% to KES 0.9 billion, reflecting prudent credit provisioning and continued investment in human capital and brand enhancement.
Mr. Kihara stated, “The strong H1 performance gives us confidence in the progress we are making under our iMara strategy and the strength of the foundation we have built for the future. Looking ahead, our focus is on sustaining this momentum by accelerating our transformation, deepening our customer relationships and growing our market share across our key segments. We will continue to invest in the capabilities that will make us a more agile, innovative and resilient Bank, while maintaining disciplined credit-risk management and supporting the customers and sectors driving Eastern Africa’s growth.”
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