I&M Group PLC has announced a 25 percent increase in after-tax profit to Ksh5.45 billion for its 2021 Quarter 3 financial results.
The Group’s asset base rose to Ksh399 billion, reflecting a 16 percent year-on-year growth due to increases in the loan book and investments in government securities.
“These results showcase the positive outcome of our strategy to drive business growth, build resilience and optimise operational efficiency across the Group. This has helped the Group to deliver a strong quarter three financial results despite the challenging operating environment caused by Covid-19. The actions taken by the Group to improve its operating efficiencies and financial returns, as well as the gradual economic recovery, have placed it on a strong upward growth trajectory,” said Daniel Ndonye, I&M Group PLC Chairman.
During the period under review, the Group’s balance sheet and income metrics improved on the backdrop of a solid capital base and liquidity.
The Group’s loan portfolio grew by 12 percent to Ksh208 billion as of September 30, 2021, up from Ksh186 billion for the same prior-year period.
Customer deposits of the Group closed at Ksh289 billion, or a 14 percent increase year on year.
The Group’s Net Non-Performing loans stood at Ksh7.5 billion reflecting an 11 percent reduction year on year, largely due to recoveries and upgrades from Nonperforming loans during the year.
Shareholder’s Equity for the Group grew to Kshs 68 billion from Kshs 60 billion, owing to improved profitability during the period under review.
Net interest income for the Group recorded a strong growth of 34 percent to close at Ksh14 billion, an increase from Ksh10 billion in September 2020 on account of improved earnings from government securities and a reduction in interest expense.
The Group’s total non-funded income recorded a decline of 3 percent to close at Ksh6.1 billion which was down from Ksh6.4 billion year-on-year.
Operating expenses before loan loss provisions stood at Ksh9.7 billion, an increase of 28 percent year on year on account of increased investment in digitisation.
![The signing ceremony took place in Kisumu, with Governor Prof. Anyang’ Nyong’o representing the county government and UN-Habitat Executive Director in Kenya, Anaclaudia Rossbach, signing on behalf of the UN agency. Under the agreement, both parties commit to jointly implementing the housing upgrade project, which Governor Nyong’o said will primarily target vulnerable groups. “The PINUA programme [is] designed to benefit the most vulnerable members of the community,” Nyong’o said, reaffirming his administration’s commitment to fostering sustainable neighborhoods equipped with essential services. Beginning November 1, 2025, the county government, working with UN-Habitat, will launch pilot projects in Kibuye Estate and Muhoroni Sub-County, based on designs and models developed through extensive public participation. The programme will focus on upgrading informal settlements by providing essential social infrastructure such as schools, sanitation facilities, affordable rental housing, early childhood development centres, and public open spaces. It also supports incremental housing models, allowing families to progressively build and eventually own decent homes. Rossbach emphasized UN-Habitat’s global commitment to driving transformative change in urban areas: “This partnership is crucial in advancing our new strategy, which focuses on improving housing access and digitally transforming informal settlements for everyone.” According to UN-Habitat housing architect Fred Omenya, the pilot phase will begin in January 2026 with the construction of two blocks of 24 housing units in Kibuye Estate.](https://businessinsights.africa/wp-content/uploads/2025/10/About-us-still-25957706200_7ca2db7e5e_k-218x150.jpg "Kisumu, UN-Habitat sign Ksh2.7bn deal for social housing upgrade")
