I&M Group Profit After Tax Rises 22% to KES 10.2 Billion

Regional subsidiaries increase their contribution as the Group records stronger income, balance-sheet growth and digital adoption in the first half of 2026.

I&M Group PLC has reported a 22% increase in Profit After Tax (PAT) to KES 10.2 billion for the six months ended June 30, 2026, up from the same period last year.

The Group’s Profit Before Tax rose 15% to KES 13.5 billion, while total operating income increased 23% to KES 33.7 billion. The performance was supported by growth across its markets and a stronger contribution from its regional subsidiaries.

Regional businesses drive growing share of profits

The contribution of I&M Group’s regional subsidiaries to Group Profit Before Tax increased to 33%, compared with 25% in the corresponding period of 2025.

The Group said the performance reflects continued execution of its regional diversification strategy and the iMara strategy.

Net loans and advances grew 15% to KES 334 billion, while customer deposits increased 18% to KES 505 billion. Total assets also expanded by 27% to KES 746 billion.

At the same time, the Group strengthened asset quality. Gross non-performing loans declined by 12% to KES 30.1 billion from KES 34.4 billion a year earlier.

Loan-loss provisions, however, increased 38% to KES 5.6 billion as the Group maintained a prudent approach to credit-risk management.

Digital adoption and MSME growth remain strong

I&M Group also recorded progress in customer growth and digital banking.

Customer numbers reached 1.1 million, exceeding the Group’s target of more than one million. Digitally active customers rose to 92%, while the Group’s Net Promoter Score reached 73%.

The MSME segment recorded 41% revenue growth during the period. Customers accessed approximately KES 15.7 billion in financing through digital channels.

Digital businesses and ecosystem partnerships also contributed 21.7% of Retail and Business Banking operating income, up from 14% in the first half of 2025.

Commenting on the results, I&M Group Regional CEO Kihara Maina said the performance demonstrates the growing strength of the Group across its markets.

“Our half-year performance demonstrates the growing strength and resilience of I&M Group across our markets. The strong growth in operating income, combined with the increasing contribution from our regional subsidiaries, reflects the disciplined execution of our diversification strategy and the value of the investments we continue to make in our customers, people, technology and distribution network,” said Maina.

He added that the Group remained focused on strengthening asset quality, capital and liquidity while supporting customers and the wider economies in which it operates.

I&M Bank Kenya remains the largest market

I&M Bank Kenya continued to account for the largest share of the Group’s business, contributing 67% of Group Profit Before Tax and 69% of total assets.

The bank recorded Profit Before Tax of KES 8.3 billion, which remained broadly stable as higher revenue was offset by increased credit provisions.

Loan-loss provisions rose 34% to KES 4.2 billion. Operating expenses also increased 21%, reflecting continued investment in the branch network, employees and business growth.

During the period, I&M Bank Kenya strengthened its capital position through the first tranche of its KES 20 billion Medium-Term Note Programme.

The issuance attracted applications worth KES 23.2 billion against an initial target of KES 10 billion, representing a subscription rate of more than 232%.

The bank’s wealth management business also continued to expand. Assets under management increased 81% to KES 127 billion, while revenue rose 145% to KES 481 million.

I&M Bancassurance Intermediary Limited recorded about 50% growth in total revenue to KES 527 million, while Profit Before Tax increased 56% to KES 425 million.

Regional subsidiaries post strong growth

I&M Bank Rwanda delivered a 53% increase in Profit Before Tax to KES 2.4 billion. Its total operating income rose 32% to KES 5 billion, while its contribution to Group Profit Before Tax increased to 20% from 14%.

I&M Bank Uganda recorded a 225% increase in Profit Before Tax to KES 700 million. Operating income rose 45% to KES 2.2 billion, supported by a 61% increase in net interest income.

Meanwhile, I&M Bank Tanzania increased operating income by 25% to KES 3.5 billion. Profit Before Tax grew 8% to KES 600 million.

Bank One Mauritius, the Group’s joint venture with CIEL Group, recorded a 14% increase in operating income to KES 2.8 billion.

However, Profit Before Tax declined 3% to KES 900 million due to higher credit provisions and continued investment in human capital and brand development.

I&M Group Profit After Tax Rises 22% to KES 10.2 Billion

Group expands social and environmental impact

Beyond its financial performance, I&M Group continued to invest in social and environmental initiatives.

The Group invested close to KES 270 million in impact programmes during the period. These initiatives supported 686 scholarships, empowered more than 20,000 women and young people, and reached approximately 500,000 lives.

Environmental conservation also remained a priority, with more than 1.45 million trees grown and continued progress towards the I&M Foundation’s commitment to plant one million mangrove trees.

The Group said the results demonstrate the progress of its regional diversification, digital transformation and customer-focused strategy as it continues to strengthen its position across Eastern Africa.