I&M Group PLC has today announced a 34% increase in its Group Profit Before Tax (PBT) for the first half of 2025, reaching KES 11.7 billion, a significant rise from the KES 8.7 billion recorded in the same period in 2024. The performance has been driven by strong operating revenues across all its markets, demonstrating the sustained success of its regional diversification strategy.
The Group’s regional subsidiaries sustained a strong growth trajectory, contributing 24% of the Group’s overall Profit Before Tax. This highlights the increasing strength and synergy of its operations in Kenya, Rwanda, Tanzania, Uganda, and Mauritius.
I&M Group Regional CEO Mr. Kihara Maina noted that: “The subsidiary markets’ contribution of 24% to the Group’s Profit Before Tax underscores the success of our regional expansion strategy. 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.”
Key Financial Performance Highlights – H1 2025
Balance Sheet Highlights
- Total assets grew by 4% year-on-year to close at KES 589 billion.
- The loan portfolio grew by 2% to close at KES 290 billion.
- Customer deposits increased by 2% to KES 429 billion.
- Net Non-Performing Loans declined from 14.7 billion to 11.9 billion, reflecting prudent credit risk management.
Income Statement Highlights
- Operating income grew by 21%, primarily driven by a 24% increase in Net Interest Income.
- Loan loss provisions stood at KES 4.1 billion, up from KES 3.5 billion in the same period last year, underscoring continued prudence in asset quality management.
- The Group’s operating expenses, excluding provisions, rose by 11%, driven by continued investment in technology, people, and branch expansion
I&M Bank Kenya
I&M Bank Kenya, the Group’s anchor business, reported a 31% increase in Profit Before Tax, resulting from robust growth in Net Interest Income. Additionally, the Bank posted an operating income growth of 21% year-on-year. The Bank continues to lead in customer acquisition with over 110,000 customers onboarded in 2025 while maintaining industry leading customer satisfaction levels of 81%.
Commenting on the results, Mr. Gul Khan, I&M Bank Kenya CEO, said, “Our half-year results reflect our continued commitment to delivering relevant solutions and a superior customer experience. The strong double-digit growth across both our retail and corporate segments is a testament to the trust our customers place in us. We will continue to invest in both our physical channels and digital transformation as we expand our reach to serve more Kenyans, empowering them to achieve their financial goals.”
I&M Bank Kenya has not only received several accolades: Best Bank in Retail, Best Bank in Product Innovation and Best Bank in Product Marketing, at the Think Business Awards, the Founder and Chairman Emeritus, Mr. S.B.R. shah was also awarded for his distinguished leadership and decades of contribution to building a resilient, customer-focused, and forward-looking institution. The Bank has also been recognized as a Top Performing POS Payment Partner in Kenya by Mastercard, a true testament of its customer – centricity and contribution towards driving financial inclusion and building lasting trust with the public.
Strong Regional Growth
I&M Group’s regional subsidiaries continued to be a significant driver of profitability, with 86% of customers across the region now being digitally active up from 78% as at close of 2024. Over 8.5M customers have been impacted either directly or through our ecosystem partners.
- I&M Bank Rwanda: Reported a 45% increase in Profit Before Tax in local currency, driven by increased economic activity.
- I&M Bank Tanzania: Recorded a Profit Before Tax of KES 582 million, up from KES 408 million in 2024, supported by strong asset growth.
- I&M Bank Uganda: Achieved a 23% increase in Profit Before Tax, with total assets growing from UGX 974 billion in June 2024 to UGX 1.1 trillion in June 2025.
- Bank One (Mauritius): The joint venture with CIEL Group experienced a 25% growth in Profit Before Tax.
Outlook
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 their customers across East Africa.
