Gul Khan I&M Bank CEO in Kenya
I&M Group PLC has announced a 34 per cent increase in its Profit Before Tax (PBT) for the first half of 2025, reaching KES 11.7 billion, up from KES 8.7 billion in the same period of 2024. The growth was driven by strong operating revenues across all its regional markets, underscoring the strength of its diversification strategy.
Regional expansion drives growth
The Group’s subsidiaries in Rwanda, Tanzania, Uganda, and Mauritius contributed 24 per cent of the overall PBT, reflecting the success of cross-market synergies.
“Our regional markets’ contribution underscores the strength of our expansion strategy,” said I&M Group Regional CEO, Mr. Kihara Maina, highlighting investments in digital innovation and cross-border collaboration.
Financial performance highlights
Total assets: Grew 4.per cent to KES 589 billion.
Loan portfolio: Increased 2 per cent to KES 290 billion.
Customer deposits: Rose 2.per cent to KES 429 billion.
Net Non-Performing Loans: Declined from KES 14.7 billion to KES 11.9 billion, indicating improved risk management.
On the income side, operating income surged 21 per cent, driven by a 24 per cent jump in net interest income. Loan loss provisions rose to KES 4.1 billion from KES 3.5 billion, while operating expenses (excluding provisions) were up 11 per cent due to investments in technology, talent, and branch expansion.
Kenya remains the anchor market
I&M Bank Kenya delivered a 31 per cent rise in Profit Before Tax, supported by a 21 per cent increase in operating income. The bank onboarded more than 110,000 customers in 2025 and maintained an industry-leading satisfaction score of 81 per cent.
CEO Gul Khan attributed the results to strong growth in both retail and corporate segments. “The strong double-digit growth across segments reflects the trust customers place in us. We will continue investing in physical and digital channels to empower more Kenyans financially,” he said.
The Kenyan subsidiary also bagged several accolades at the Think Business Awards, including Best Bank in Retail, Best Bank in Product Innovation, and Best Bank in Product Marketing. Founder and Chairman Emeritus, Mr. S.B.R. Shah, was honoured for his decades-long contribution to the bank’s growth.
Strong regional momentum
I&M Group’s subsidiaries reported significant growth:
Rwanda: PBT up 45 per cent in local currency.
Tanzania: PBT rose to KES 582 million from KES 408 million.
Uganda: PBT up 23 per cent, with assets growing to UGX 1.1 trillion.
Mauritius (Bank One): PBT up 25 per cent.
Digital adoption across the region also deepened, with 86 per cent of customers now digitally active, up from 78 per cent in 2024. The Group estimates that more than 8.5 million customers have been reached directly or through ecosystem partners.
Outlook
Looking ahead, I&M Group expressed confidence in sustaining growth through digital innovation and regional expansion. The Group said its focus remains on delivering inclusive, customer-centred, and sustainable financial growth across East Africa.