I&M Group Plc has reported strong results for the first half of 2025, delivering a 36% year-on-year increase in profit after tax to KShs 8.3 billion. Profit before tax rose 34% to KShs 11.7 billion, supported by double-digit income growth, improved cost efficiency, and enhanced contribution from subsidiaries. The Group’s return on equity improved to 16%, while return on assets rose to 2.9%, signaling strengthened profitability across its footprint.
Operating income increased 21% to KShs 27.4 billion, benefiting from a 19% rise in net interest income as funding costs moderated. Non-interest income also grew steadily, supported by trade finance, fees, and ecosystem partnerships. The cost-to-income ratio improved to 43% from 48% in H1 2024, underscoring disciplined expense management even as the Group invested in technology, branch expansion, and people initiatives.
Also read: Stanbic Kicks Off Earnings Season with Steady Numbers, Big Dividend Surprise
Asset quality showed progress, with the gross non-performing loan ratio easing to 11.8% from 12.3% in the same period last year. Net NPA ratio declined further to 4.1%, reflecting stronger recoveries and more prudent credit reviews across the Group. The cost of risk rose modestly to 2.8%, indicating continued caution in a mixed macroeconomic environment.
The Group’s balance sheet remained resilient, with customer deposits increasing 2% to KShs 429 billion, while net loans and advances rose slightly to KShs 290 billion. Total assets stood at KShs 589 billion, a 4% increase year-on-year. Capital and liquidity buffers remain robust, with the total capital adequacy ratio at 20% and liquidity ratio at 54%, well above regulatory thresholds across all subsidiaries.
Subsidiaries made meaningful contributions to growth, accounting for 24% of Group profit before tax. Rwanda led with a 15% share, supported by double-digit income growth and a rebound in key sectors such as manufacturing and oil & gas. Tanzania contributed 5% of Group PBT, buoyed by strong digital lending momentum, while Uganda’s profitability improved on the back of recoveries and agency banking expansion. Mauritius, though facing higher funding costs, continued to benefit from recoveries and balance sheet growth.
In Kenya, which still accounts for 75% of Group profit before tax, performance was anchored on stronger core earnings, with operating income up 21% and PBT rising 31%. Growth in Corporate and Institutional Banking was driven by higher margins, diversification initiatives, and an expanding trade finance book, while Retail and Business Banking continued to broaden its customer base, with MSMEs comprising over 30% of new acquisitions.
The Group also registered significant momentum in its wealth management and bancassurance businesses. Assets under management rose sharply to KShs 70 billion, from KShs 20.7 billion a year earlier, highlighting growing client trust in I&M’s investment solutions. Wealth management customers almost tripled over the same period to 9,400.
Bancassurance also expanded its footprint, with the customer base reaching 13,900 and revenue growing 15% to KShs 352.7 million. These businesses are becoming increasingly central to the Group’s diversification strategy, adding resilience to income streams beyond traditional lending.
Ecosystem partnerships disbursed over KShs 14 billion in the half-year, spanning payments, agri-tech, and green SME financing. Subsidiaries are increasingly integrated into this growth story, demonstrating the benefits of a regionalized, technology-driven approach.
Beyond financials, I&M continued advancing its sustainability agenda through the I&M Foundation. Initiatives included planting over 600,000 trees, expanding scholarships in secondary and tertiary education, and equipping women and youth with skills for sustainable income generation. These efforts underline the Group’s commitment to embedding environmental and social impact into its business model.
I&M aims to build on its strengthened fundamentals by accelerating digital innovation, deepening ecosystem partnerships, and leveraging subsidiary growth. With profitability momentum intact and asset quality stabilizing, the Group remains on course toward its 2026 ambition of achieving a return on equity above 20% and impacting over 10 million lives across Eastern Africa.
#I&M Group PLC
Follow for Daily Financial Tips
CEO & Co-Founder, Abojani Investment
Robert Ochieng is a visionary entrepreneur and the co-founder of Abojani Investment, a leading financial education platform in Kenya that has empowered over 20,000 Africans to embark on their investment journeys. As CEO, he has demonstrated an unwavering commitment to financial literacy, successfully demystifying money and investments and making them accessible and relevant to individuals from all walks of life.
Running Thriving Investment Communities
Robert’s influence extends well beyond Abojani Investment’s core offerings. He has actively fostered a sense of community by running investment forums and groups with a vast following of over 300,000 Africans. These communities provide a safe space for individuals to exchange ideas, share experiences, and support each other on their investment journeys.
Vision for the Future
As co-founder of Abojani Investment, Robert envisions a financially empowered Africa. He strives to expand the reach of his financial education initiatives, enabling millions more to gain the knowledge and confidence needed to achieve their financial goals. His vision is to create a society where every individual has the tools and understanding to build lasting wealth and prosperity.
Professional Background
Robert Ochieng is a highly accomplished CEO at the helm of Abojani Investment, an investment and advisory firm in Kenya. He is a seasoned professional with over 14 years of experience in IT, Finance, and leadership.
His career includes key roles at prominent institutions such as Equity Bank, Gulf African Bank, Guaranty Trust Bank (GTBank) and Airtel.
Robert’s expertise has also been sought after by the National Treasury for consultancy on planning and budgeting systems, showcasing his exceptional knowledge and skills in the field. Passionate about driving meaningful conversations and collaborations between academia, industry, and the public sector, Robert actively engages in research projects focusing on digital transformation within the financial services sector. With his visionary leadership and strategic insights, Robert Ochieng continues to make a significant impact in the business world.
