I&M Group Kenya Reports All-Time High FY2024 Profit After Tax of KES 15.4 Billion, Up 22%

I&M Group Kenya posted an all-time high profit after tax of KES 15.4 billion for full-year 2024, representing a 22% increase year on year and equivalent to approximately $119 million at prevailing exchange rates. Profit before tax rose 28.4% to KES 19.8 billion. The results were published on 25 March 2025. The Central Bank of Kenya's tightening cycle took the policy rate to 13% in February 2024.

Earnings per share grew 22% to KES 9.30, and the board recommended a final dividend of KES 1.70 per share, taking the total for 2024 to KES 3.00. Return on equity for the year rose to about 17%. The cost-to-income ratio stood at 45.9%.

INCOME AND REGIONAL CONTRIBUTION

Net interest income rose 31% to KES 37.5 billion. Operating income for the full year grew 20% to KES 51.2 billion.

The group's regional subsidiaries, operating across multiple East African markets including Uganda, Tanzania, Rwanda, and Mauritius, contributed 29% of profit before tax during the year.