I&M Group PLC has announced that it has registered a profit after tax Ksh. 4.2 billion for the period ending March 31, 2025. This is a slight increase from the 3.6 billion profit after tax the company reported in the previous quarter in 2025.
Total operating income increased to Ksh. 12.9 billion from 11.5 billion in 2024. Operating income grew by 12%, driven primarily by a 12% rise in Net Interest Income.
On the other hand total operating expenses increased to Ksh. 7.2 billion from Ksh. 6.6 billion. Operating expenses (excluding provisions) rose by 12%, attributed to ongoing investment in technology, people and branch expansion in Kenya and Rwanda.
Regional subsidiaries contributed 26% of the Group’s total PBT, up from 24% in Q1 2024. “We are seeing strong momentum across our subsidiary markets, with each business delivering improved performance and contributing more meaningfully to the Group’s Profit Before Tax, a clear indication that our regional diversification strategy is bearing fruit,” said Kihara Maina, the Group’s Regional CEO.
I&M’s group results showed that revenues from cross-border business have grown markedly, underscoring the power of regional collaboration and shared innovation. “By harmonising our digital platforms and accelerating automation, we are unlocking value across all our markets,” Kihara added.
Group Key Financial Performance Highlights – Q1 2025
Balance Sheet Performance
• Total assets grew by 7% year-on-year to close at Ksh. 568 billion.
• Loan book rose modestly by 1%, closing at Ksh. 294 billion.
• Customer deposits increased by 6% to Ksh. 407 billion, driven by growth in both CASA (Current Accounts and Savings Accounts) and term deposits.
• Net Non-Performing Loans declined by 11% to Ksh. 13 billion
• Loan loss provisions stood at Ksh. 1.6 billion, up from Ksh. 1.5 billion in Q1 2024.
“Our strong performance continues to demonstrate that our products and services are relevant for our customers. In just two years, we more than doubled our customer base. In Q1 our new-to-bank customer acquisition increased 134% year-on-year with significant growth in personal and MSME’s. Customer transactions have more than doubled, a clear indicator that more Kenyan consumers are choosing I&M Bank as their primary banking partner. In Q1 we also continued to invest in our digital App, eco-system partnerships and branch expansion to be closer to our customers” said Mr. Gul Khan, CEO, I&M Bank Kenya.