I&M Bank has had an impressive year, with its FY 2024 Results showing solid growth across key areas. The bank’s operating income jumped by 20% to Ksh 51.2 billion, a strong sign that its efforts are paying off. At the same time, operating expenses increased by 15.7% to Ksh 23.5 billion, showing the bank’s ability to manage costs while pushing for growth.
Also Read: Absa Bank Kenya’s Net Profit Grows by 28% to Ksh 20.9 billion in Financial Year 2024
What’s really exciting for shareholders is the 24.8% increase in profit after tax, which reached Ksh 16.6 billion. This growth in profit is a clear indication of the bank’s financial health and its capacity to deliver value. Plus, I&M has announced a final dividend of Ksh 1.70 per share, a gesture that rewards investors for their trust and patience.
Looking at the bank’s journey over the past few years, it’s clear that I&M has been steadily building on its success. The growth in profits and dividends reflects not just strong performance, but also a solid strategy. It’s the kind of result that gives confidence, both to customers and to those who’ve invested in the bank.
I&M’s expansion across East Africa also continues to strengthen its position. With operations in Kenya, Rwanda, Mauritius, Tanzania, and Uganda, the bank is growing its reach and influence in the region. This regional presence adds to I&M’s overall strength, allowing it to tap into diverse markets and serve a broader customer base.
Another thing worth noting is I&M’s steady growth in dividend payouts. From Ksh 1.125 per share in 2020 to Ksh 3.00 per share in 2024, the bank’s commitment to sharing its success with shareholders is clear. This consistent increase is a reassuring sign of I&M’s ability to maintain strong financial health year after year.
To sum it up, I&M’s FY 2024 results paint a picture of a bank on the rise:
With solid growth, strong profits, and an expanding presence in East Africa, the future looks bright for both the bank and its investors. Whether you’re a shareholder or a customer, it’s clear that I&M is moving in the right direction.
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.
