I&M Group recorded a Profit Before Tax of Sh20.8 billion for the financial year ending  December 31, 2024, reflecting a 25 per cent increase.

The growth was attributed to higher operating income, increased MSME lending, and a focus on digital banking.

Total assets rose by 0.3 per cent to Sh581 billion, while customer deposits reached Sh412 billion, supported by strong growth in current and savings accounts (CASA).

The MSME loan book more than doubled, aligning with the Group’s focus on supporting small businesses.

Total income grew by 20 per cent to Sh51 billion, with net interest income rising by 31 per cent.

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Fees and commission income increased by 16 per cent from Sh6.9 billion to Sh7.9 billion, although overall non-interest income declined by 3 per cent year-on-year.

Revenue from cross-border transactions rose by 57 per cent.

Regional CEO Kihara Maina linked the Group’s performance to its ongoing focus on MSME growth, digital banking, and customer expansion while also highlighting its commitment to sustainability.

"Our focus on delivering the iMara Strategy has led to remarkable gains in MSME growth, digital banking, and customer expansion," Kihara stated.

"We remain committed to driving financial inclusion and building an ecosystem that supports our customers’ businesses sustainably."

Meanwhile, operating expenses, excluding loan loss provisions, increased by 16 per cent to Sh23 billion due to branch expansion and investments in staff and technology.

I&M Bank Kenya contributed 71 per cent of the Group’s total profit before tax, with a 16 per cent growth in revenue and a 17 per cent rise in Profit Before Tax.

The Bank’s customer base doubled over two years, with 50 per cent of new customers onboarded digitally.

Digital transactions increased by 132 per cent, while 95 per cent of customers remained digitally active.

The Bank also expanded its branch network with 21 new outlets over two years, and brand awareness increased from 20 per cent to 34 per cent.

The Board of Directors has proposed a final dividend of Sh1.70 per share, bringing the total dividend for the year to Sh3.00 per share, a 17 per cent increase from Sh2.55 per share in the previous year.

I&M Group Chairman Oliver Fowler confirmed the dividend proposal, stating: "Following this strong performance, the Board of Directors has proposed a Sh1.70 final dividend, which, together with the interim dividend of Sh1.30 per share, totals Sh3.00 per share - a 17 per cent increase from Sh2.55 per share in the prior year."