I&M Group has posted a 19 per cent year-on-year increase in Profit After Tax (PAT) to Sh5.0 billion for the first quarter of 2026, up from Sh4.2 billion in the same period last year.
The Group delivered a strong start to the year, recording a 42 per cent growth in customer numbers compared to the prior year, reflecting continued customer confidence and the success of the Group’s customer acquisition strategy.
Operating expenses increased by 28% as the Group continued to invest strategically in future growth through branch expansion, talent development, brand strengthening, and staff upskilling initiatives. The Group also strengthened its balance sheet position, with growth recorded across all subsidiaries, which contributed 31 per cent of the overall PBT, underscoring the strength of its diversified footprint across East Africa and Mauritius.
At the same time, Bancassurance business saw a 33 per cent growth in revenues driven by a 148 per cent growth in underwritten premiums of Sh3.5bn compared to the same period 2025 while Wealth Management Business registered a 209% revenue growth to close at Sh229 million.
Asset quality, on the other hand, continued to improve, with Gross Non-Performing Loans (NPLs) reducing from Sh34 billion to SH32 billion. Meanwhile, provisions increased by 63 pr cent year on year as the Group proactively strengthened coverage buffers across its operating markets. Capital and liquidity ratios remained strong across all subsidiaries, positioning the Group well for continued sustainable growth.
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Reflecting on the performance, I&M Bank Regional CEO Mr. Kihara Maina said,
“These results reflect the growing strength of our regional franchise and the trust our customers continue to place in us. As a Group, our focus remains firmly anchored on our purpose of empowering your prosperity, and we do this by supporting individuals, businesses, and communities with the financial solutions they need to grow and thrive. We will continue investing strategically in our people, technology, and distribution network while maintaining prudent risk management to drive sustainable long-term growth across our markets.”
I&M Bank Kenya:
I&M Bank Kenya delivered a 16% growth in Profit After Tax to Sh3.3B, up from Sh2.8 B in Q1 2025, underpinned by strong Net Interest Income growth and a 21% increase in operating income, driven by continued expansion across all segments.
The Bank’s balance sheet continued to register strong growth, driven mainly by increased investments in government securities and expansion of the loan portfolio. Loans and advances growth was largely supported by the retail segment, while asset quality remained stable with the gross non-performing loan ratio holding at 12.7% during the period. Customer deposits grew robustly by 25%, reflecting successful deposit mobilisation efforts across the business.
Operating expenses increased by 25 per cent year on year due to the ongoing branch expansion under the Mahali Uko, Tuko campaign, which added 12 new branches since Q1 2025, as well as continued investment in the brand.
Beyond its financial performance, the Bank continued to advance strategic initiatives aligned to its purpose of empowering prosperity. During the quarter, the Bank partnered with B Lab Africa to support SMEs through the Resilient Sustainable Business (RSB) programme, aimed at strengthening sustainable business practices and long-term resilience.
In addition, the Bank signed a partnership with Swedish International Development Cooperation Agency (SIDA) to unlock a USD 30 million green lending portfolio for climate-aligned projects across Kenya, further reinforcing its commitment to sustainable finance.
Regional Growth
- Rwanda: PBT up 14 per cent to Sh850 million from Sh748 million in the same period last year, driven by increased economic activity.
- Tanzania: PBT rose 45% to Sh469 million, supported by asset growth and strong trade finance revenues.
- Uganda: PBT increased 169% to Sh304 million from Sh113 million in the same period last year, driven by strong growth in both net interest income and non-funded income. Total assets grew from UGX 1.1 trillion to UGX 1.6 trillion.
- Mauritius (Bank One): PBT declined by 6% to Sh444 million, whereas total assets increased by 14%, reflecting strong joint venture performance.
