Browsing: CDC Group plc

I&M Holdings has announced a 17 per cent after tax profit growth for its 2019 half year financial results bouyed by a strong non-interest income.The lender's net profit for the year to June 30 closed at Ksh4.5 billion compared to Ksh3.9 billion recorded in a coresponding period last year.Durng the period, the Group’s loan book expanded six per cent to close at Ksh172.1 billion up from Ksh162.8 billion for the similar period last year. I&M is a leading commercial bank headquartered in Kenya, with a growing regional presence currently extending to Mauritius, Tanzania and Rwanda.

I&M Holdings half-year profit jumps 17% to Ksh4.5Bn

East Africa

Regional financial services group—I&M Holdings (plc) has announced a 17 per cent after tax profit growth for its 2019 half year financial results bouyed by a strong non-interest income.

The lender’s net profit for the year to June 30 closed at Ksh4.5 billion compared to Ksh3.9 billion recorded in a corresponding period last year.

READ ALSO:I&M quarter three profit jumps 20.4% on higher income

Durng the period, the Group’s loan book expanded six per cent to close at Ksh172.1 billion up from Ksh162.8 billion for the similar period last year.

On the other hand, customer deposits recorded a 12 per cent growth from Ksh210.9 billion in June 2018 to close at Ksh237.2 billion as at June 2019.

On account of increased allowances for loan losses, the net Non-Performing Assets (NPAs) recorded a decline of 28 per cent to Kshs 9.2billion.

Total assets recorded an impressive growth to …