I&m Group Plc · NSEKE:IMH
I&m — Q1 2024 Earnings Presentation
28 slides from I&m's earnings presentation, May 2024
Slide 1: Q1 2024 Results Investor Presentation
Q1 2024 RESULTS INVESTOR PRESENTATION
Slide 2: East Africa's Leading Financial Partner For Growth
East Africa’s Leading Financial Partner For Growth > 94 600,000 Branches Customers Shareholders >4,800 130 >2,900 ATMs Staff 2 Classification: Public
Slide 3: Regional Footprint
Regional Footprint UGANDA I&M Bank (Uganda) Ltd ✓80,000+ Customers KENYA ✓12 Branches ✓14 ATMs ✓307 staff I&M Bank LIMITED UGANDA ✓365,000+ customers ✓49 Branches KENYA ✓57 ATMs ✓1,554 staff RWANDA RWANDA I&M Bank (Rwanda) PLC ✓86,000+ customers TANZANIA ✓18 Branches ✓38 ATMs ✓461 staff TANZANIA I&M
Slide 4: Group Highlights
GROUP HIGHLIGHTS
Slide 5: iMara 3.0 Strategy (2024 – 2026)
iMara 3.0 Strategy (2024 – 2026) Long term Ambition Eastern Africa’s Leading Financial Partner for Growth Best Bank for >85% 3 Year Impact +10 Mn lives Digitally Active Customer Experience Objectives impacted Customers (NPS>70%) 1 2 3 Our Develop Leadership in Build Relevance in Emerging Customer Be
Slide 6: Strong Revenue growth across all segments and subsidiaries
Strong Revenue growth across all segments and subsidiaries as we embark on our new 3-year strategy Corporate and Institutional Banking (CIB) Personal and Business Banking (PBB) Breakdown of Operating Income Operating Income (KES Bn) Operating Income (KES Bn) % Contribution 5.7 4.5 33% 58% 4.3 30% 27
Slide 7: Leading to a 38% y/y increase in Profit before Tax
Leading to a 38% y/y increase in Profit before Tax Operating Income (KES Bn) Loan Loss Provisions Expense (KES Bn) 1.6 -6% 1.5 Key Ratios. Q1 FY Q1 Q1 11.5 21% 2024 2023 2023 2022 9.6 29% 242% Cost to income ratio 44% 48% 46% 46% 7.4 Cost of Risk 2.2% 2.5% 2.8% 0.9% 0.5 ROE 16% 15 % 14 % 15% ROA 2.9
Slide 8: And Total Assets growth of 13% y/y
And Total Assets growth of 13% y/y Total Assets (KES Bn) Net Loans & Advances (KES Bn) Customer Deposits (KES Bn) 13% 18% 5% 18% 533 384 473 13% 291 431 10% 324 257 310 218 21% 13% 94 5% 241 13% 78 69 202 212 20% 197 149 179 28% 20% 5% 143 108 112 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2
Slide 9: Subsidiary Performance Highlights
SUBSIDIARY PERFORMANCE HIGHLIGHTS
Slide 10: Kenya: Macroeconomic Environment
Kenya: Macroeconomic Environment Annual Inflation Rate Trend Central Bank Policy Rate & 364 Day Treasury Yield 9.2% 16.10% 15.05% 16.99% 7.9% 12.16% 6.8% 6.6% 13.0% 10.75% 5.7% 12.5% 10.5% 9.5% 10.5% Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 CBR 364 Day Curren
Slide 11: Kenya: 76% contribution to Profit Before Tax
Kenya: 76% contribution to Profit Before Tax Operating Income (KES Bn) Loan Loss Provisions Expense (KES Bn) Profit Before Tax (KES Bn) 7.9 3.8 17% 1.3 -23% 6.7 2.9 28% 78% 1.0 16% 2.5 5.3 0.8 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 2023 Q1 2023
Slide 12: Kenya: 73% contribution to Total Assets
Kenya: 73% contribution to Total Assets Total Assets (KES Bn) Net Loans & Advances (KES Bn) Customer Deposits (KES Bn) 386 224 15% 198 13% 286 335 19% 311 8% 19% 241 166 235 2% Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 2023 Q1 2023 Q1 2022 ■ Net Lo
Slide 13: Rwanda: Macroeconomic Environment
Rwanda: Macroeconomic Environment Annual Inflation Rate Trend Central Bank Policy Rate &364 Day Treasury Yield 31.0% 9.98% 10.12% 9.80% 10.80% 9.82% 20.4% 18.4% 7.5% 7.5% 7.5% 7.0% 7.0% 6.2% 0.6% Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 CBR 364 Day Currency M
Slide 14: Rwanda: 16% contribution to Profit Before Tax
Rwanda: 16% contribution to Profit Before Tax Operating Income (KES Bn) Loan Loss Provisions Expense (KES Bn) Profit Before Tax (KES Bn) 1.8 0.8 0.2 46% 1.3 1.0 23% 178% 107% 0.4 0.1 -18% 0.3 0.1 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 ■ Operating income grew by 46% y
Slide 15: Rwanda: 13% contribution to Total Assets
Rwanda: 13% contribution to Total Assets Total Assets (KES Bn) Net Loans & Advances (KES Bn) Customer Deposits (KES Bn) 68 32 44 29 11% 20% 11% 11% 26 8% 36 34 62 7% 58 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 2023 Q1 2023 Q1 2022 ■ The retail bus
Slide 16: Tanzania: Macroeconomic Environment
Tanzania: Macroeconomic Environment Annual Inflation Rate Central Bank Policy Rate & 364 Day Treasury Yield 4.7% 3.6% 10.51% 3.3% 11.82% 3.0% 3.0% 7.72% 7.14% 6.61% 5.0% 5.0% 5.5% 5.0% 5.0% Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 CBR 364 Day Currency Movemen
Slide 17: Tanzania: 3% contribution to Profit Before Tax
Tanzania: 3% contribution to Profit Before Tax Operating Income (KES Bn) Loan Loss Provisions Expense (KES Bn) Profit Before Tax (KES Bn) 0.1 1.0 0.3 43% 48% 0.7 0.1 0.2 53% 566% 0.4 -78% 1611% 0.0 0.0 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 2023
Slide 18: Tanzania: 13% contribution to Total Assets
Tanzania: 13% contribution to Total Assets Total Assets (KES Bn) Net Loans & Advances (KES Bn) Customer Deposits (KES Bn) 11% 24 38 21 29 35 10% 19% 16% 22% 18 25 29 19% 21 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 2023 Q1 2023 Q1 2022 ■ Balance sh
Slide 19: Uganda: Macroeconomic Environment
Uganda: Macroeconomic Environment Annual Inflation Rate Central Bank Policy Rate & 364 Day Treasury Yield 9.0% Uganda 13.01% 13.10% 11.12% 10.0% 9.5% 4.9% 10.0% 10.0% 9.42% 9.5% 3.3% 9.24% 2.7% 2.6% Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 CBR 364 Day Currenc
Slide 20: Uganda: 1% contribution to Profit Before Tax
Uganda: 1% contribution to Profit Before Tax Operating Income (KES Bn) Loan Loss Provisions Expense (KES Bn) Profit Before Tax (KES Bn) -75% 0.01 0.62 0.4 11% 0.55 0.03 31% 0.42 -97% 230% 0.05 0.01 Q1 2022 Q1 2023 Q1 2024 (0.4) Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 20
Slide 21: Uganda: 6% contribution to Total Assets
Uganda: 6% contribution to Total Assets Total Assets (KES Bn) Net Loans & Advances (KES Bn) Customer Deposits (KES Bn) 11 34 12% 25 11% 27% 30 23 22% 9 17% 21% 19 25 7 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 2023 Q1 2023 Q1 2022 ■ Net Loans and a
Slide 22: Mauritius: Macroeconomic Environment
Mauritius: Macroeconomic Environment Annual Inflation Rate Trend Central Bank Policy Rate & 364 Day Treasury Yield 9.1% 7.9% 4.67% 4.75% 4.5% 4.5% 4.5% 4.5% 4.5% 3.97% 4.05% 5.2% 3.54% 4.9% 3.9% Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 Mar '23 Jun '23 Sept '23 Dec '23 Mar '24 CBR 364 Day Currency Mo
Slide 23: Mauritius: 4% contribution to Profit Before Tax
Mauritius: 4% contribution to Profit Before Tax Operating Income (KES Bn) Loan Loss Provisions Expense (KES Bn) Profit Before Tax (KES Bn) 1.5 0.1 0.4 -4% 0.4 25% 1.2 636% 59% 46% 0.8 0.3 -0.0 -0.1 67% Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 2023
Slide 24: Mauritius: Balance Sheet
Mauritius: Balance Sheet Total Assets (KES Bn) Net Loans & Advances (KES Bn) Customer Deposits (KES Bn) 57 -8% 52 135 31% 155 44 22% 13% 111 137 18% 20% 94 114 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Q1 2022 Q1 2023 Q1 2024 Key Ratios Q1 2024 FY 2023 Q1 2023 Q1 2022 ■ Total Assets increased
Slide 25: Group Outlook
Group Outlook
Slide 26: iMara 3.0 - Our North Star
iMara 3.0 - Our North Star Our Key Focus Areas Develop Leadership in our Build Relevance in Emerging core Segments Customer Segments Become a leader in (Corporate & Commercial) (Retail & SMEs) Ecosystems Our Key Performance Indicators Digitally Active Customers Net Promoter Score Grow to Best Bank f
Slide 27: Disclaimer
DISCLAIMER The contents herein have been presented in good faith. The information, statements and opinions set out in this presentation and subsequent discussion do not constitute a public offer for the purposes of any applicable law or an offer to sell or solicitation of any offer to purchase any s
Slide 28: Thank You
Thank You Merci Webale Murakoze Asante I&M GROUP PLC 1 PARK AVENUE 1ST PARKLANDS P.O. BOX 30238 – 00100 TEL: +254 (0)20 3221000 Investor-Relations@imgroup-plc.com