Browsing: I&M Bank

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I&M Appoints EABL Group CFO to its Board

Banking
  • I&M Group PLC has appointed East African Breweries Limited Group Chief Financial officer Risper Genga Ohaga as an Independent Non-Executive Director of the Company. 
  • Ohaga is a seasoned finance professional with over 23 years’ experience in Financial Management, Strategy, Audit and Risk Management spanning multiple countries.
  • She holds a Bachelor of Commerce (BCom) from University of Nairobi, is a Certified Public Accountant of Kenya (CPA-K) and a Certified Internal Auditor (CIA). 

I&M Group PLC has appointed East African Breweries Limited Group Chief Financial officer Risper Genga Ohaga as an Independent Non-Executive Director of the Company. 

Ohaga is a seasoned finance professional with over 23 years’ experience in Financial Management, Strategy, Audit and Risk Management spanning multiple countries. She holds a Bachelor of Commerce (BCom) from University of Nairobi, is a Certified Public Accountant of Kenya (CPA-K) and a Certified Internal Auditor (CIA). 

“The Board is pleased to welcome Ms. Ohaga …

Rwanda's I&M Bank raises limit on unsecured loans

Rwanda’s I&M Bank raises limit on unsecured loans

Banking

Rwanda’s I&M Bank has revised its Éclair Loan product where they will lend up to 17.5 times on one’s salary without collateral.

I&M Bank says that the move to increase unsecured loans to 17.5 times one’s salary from 12 times will respond to market demand and consumer needs.

The Executive Director I&M Bank Rwanda, Faustin Byishimo said that the move is also influenced by their experience over the years and adjustment in the regulatory framework.

He added that the efficiency of the Credit Reference Bureau has seen the availability of more reliable data giving them confidence on their move.

“There have also been changes in the local framework that has improved our confidence. For instance, due to the Credit Reference Bureau, One cannot just divert their salaries without due process. The data is cleaner and reliability is much higher,” he said.

To address the market demands, Byishimo said that they …

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 …