I&M Bank Mulls Stronger Market Presence after 45% Half-year Profit
Times Reporter
I&M Bank (Rwanda) PLC said it had posted a strong performance in the first half of 2025, recording a profit after tax of Rwf11.6 billion, a 45 per cent increase compared to the previous year.
The lender attributed the growth to strategic initiatives, including robust revenue growth and investment in client and human capital development.
According to the bank’s half-year financial results, net operating income reached Rwf34.9 billion, up 30 per cent from the same period last year, while net interest income grew by 32 per cent to Rwf30 billion.
This, officials said, reflects the expansion of earning assets.
According to the breakdown, total assets rose to Rwf916 billion, marking a 12 per cent year-to-date increase.
“We are pleased to report a strong first-half performance for 2025, building on the momentum from last year. Our strategic choice in becoming a market leader in ecosystems, forging meaningful strategic partnerships and maintaining a customer-centric approach to banking continue to deliver remarkable returns,” I&M CEO Benjamin Mutimura said.
The bank’s loan portfolio expanded by 24 per cent to Rwf440 billion, fueled by sustained strength of its customer value proposition across retail and SME segments.
The lender’s total deposits grew by 12 per cent to Rwf737.7 billion, driven by the success of its enhanced branch strategy, which has accelerated customer acquisition and sales. Notably, over 50 percent of newly authorized loans originated from branches, with a significant portion coming from new-to-bank customers, underscoring the effectiveness of its expanded network.
Revenue growth was further supported by foreign currency trading, which increased 13 per cent amid Rwanda’s dynamic economic environment.
Notably, non-funded income grew by 14 percent on the back of 13 percent increase in customer banking activities.
“I am proud of the transformative impact we achieved in the first half of the year extending beyond financial transactions to touch over 200,000 lives through our sustainability initiatives. Looking ahead, we remain focused on innovation, operational efficiency, and customer centricity,” Mutimura noted.
The bank invested significantly in its workforce, with staff costs rising 27 per cent, reflecting commitment to human capital through training, welfare and career development.
This focus earned the bank the "Training and Talent Development Program of the Year" award at the 2025 Rwanda Women in Business Awards and Conference.
I&M Bank maintained a strong return on equity (ROE) of 22.47 per cent and return on assets (ROA) of 2.61 per cent, alongside a reduced cost-to-income ratio of 45 per cent, driven by both steady operational efficiency and intentional investments in technology and our people.
