I&m Group Plc · NSEKE:IMH
I&m — FY2024 Earnings Presentation
44 slides from I&m's earnings presentation, March 2025
Slide 1: FY 2024 Investor Presentation
FY 2024 INVESTOR PRESENTATION
Slide 2: Our Regional Footprint
Classification: Confidential Our Regional Footprint KENYA UGANDA I&M Bank Ltd I&M Bank (Uganda) Ltd UGANDA ✓480,000+ customers ✓77,300+ customers KENYA ✓60 Branches ✓12 Branches ✓68 ATMs ✓14 ATMs ✓1,830 staff ✓306 staff RWANDA RWANDA MAURITIUS I&M Bank (Rwanda) PLC Bank One Limited TANZANIA ✓100,000
Slide 3: Our New Horizon: iMara 3.0
VAAN | Group OUR NEW HORIZON iMara 3.0
Slide 4: iMara 3.0 Strategy (2024 – 2026)
Classification: Confidential iMara 3.0 Strategy (2024 – 2026) Long Term Ambition Eastern Africa’s Leading Financial Partner for Growth Best Bank for >90 % 3 Year Impact +10 Mn Lives Digitally Active Customer Experience Objectives Impacted (NPS>70%) Customers 1 2 3 Our Develop Leadership in Build Rel
Slide 5: Our North Star
Classification: Confidential Our North Star 2026 Aspiration Return on Equity +20% Develop Leadership in our Core Segments (Corporate & Commercial) Digitally Active Customers + +90% Impact Net Promoter Score >10 Million Lives Build Relevance in Emerging +70% Customer Segments (Retail & SMEs) + Grow t
Slide 6: Our Key Successes at the end of Y1 of iMara 3.0
Classification: Confidential Our Key Successes – at the end of Y1 of iMara 3.0 Customer Numbers Revenue Contribution from New Business 2023 2024 2023 2024 +558,000 +727,000 22% 25% Net Promoter Score Subsidiary PBT Contribution 2023 2024 2023 2024 71% 75% 24% 29% Lives Impacted Digitally Active Cust
Slide 7: Geographical Diversification
Classification: Confidential Geographical Diversification PBT Percentage Contribution by Regional Subsidiaries ■ Subsidiaries’ PBT contribution increased to 29% 14% in 2024 from 14% in 2022. 24% 29% Building the Trade Business ■ Cross-border business revenues increased by 86% 57% to USD 6 million fr
Slide 8: Developing Leadership in our Core Segment: CIB
Classification: Confidential Developing Leadership in our Core Segment Corporate & Institutional Banking (CIB) Cross Border Business Revenue Building the Trade Business USD 6Mn +57% New Target Growth Areas Building the Trade Business Oil & Gas Sector Public Sector +55% China Desk Leasing New Target
Slide 9: Segment Expansion – Corporate & Institutional Banking
Classification: Confidential Segment Expansion – Corporate & Institutional Banking (CIB) Operating Income (KES Bn) CIB Contribution to Operating Income 19.6 41% 17.5 38% 34% 12% 12.1 45% ■ Operating income increased 12% driven by growth in target growth areas, new customer acquisitions, optimizing w
Slide 10: Building Relevance in Emerging Customer Segment: RBB
Classification: Confidential Building Relevance in Emerging Customer Segment Retail & Business Banking (RBB) Distribution Channels Accelerating Growth Building Scale and +20 143 through Customer Centric Relevance in Emerging 123 +23 Product Building theInnovation Trade Business Customer Segment 107
Slide 11: Segment Expansion – Retail & Business Banking
Classification: Confidential Segment Expansion – Retail & Business Banking (RBB) Operating Income (KES Bn) RBB Contribution to Operating Income 26.5 26% 20.8 52% 49% 43% 15.3 37% ▪ Operating income increased by 26% driven by growth in customer acquisitions, distribution channels, enhanced digital ex
Slide 12: Becoming a Leader in Ecosystems
Classification: Confidential Becoming a Leader in Ecosystems 5.6Mn Building the Trade Business 5% Building the Trade Business >KES 1.7B Lives Impacted Contribution to Average Monthly Retail Operating Income Disbursements (velocity in loans disbursed by our Partners from the Funding provided) 2024 Ac
Slide 13: Financial Contribution: All Segments
Classification: Confidential Financial Contribution: All Segments Operating Income (KES Bn) Contribution to Operating Income 51.2 42.7 35.7 +12% 19.6 19% 10% 10% +35% 17.5 13.0 49% 52% +26% 45% +32% 26.5 16.0 21.0 36% 41% 38% 6.7 4.2 5.2 FY 2022 FY 2023 FY 2024 FY 2022 FY 2023 FY 2024 Corporate & Re
Slide 14: Investing for Growth: Digitization
Classification: Confidential Investing for Growth : Digitization 21% of Total Capital Expenditure spent on Technology Platforms Value Growth* Number of Accounts Opened +350% > 81,000 ■ In 2024, 50% of new to bank accounts were Digitally opened through our digital channels. ■ Total net revenue from d
Slide 15: Investing for Growth: People
Classification: Confidential Investing for Growth : People HR costs amounted to 28% of Total Operating Expenses Snr Management Talent To Support Overall, Gender Talent Engagement Gender Diversity Growth Diversity Ratio F:M Ratio F:M 2024 3,246 78% 52%:48% 40%:60% 2023 2,814 78% 48%:52% 34%:66% ■ In
Slide 16: Investing for Growth: Brand
Classification: Confidential Investing for Growth: Brand Investment in Brand 5% of Total Operating Expenses Spontaneous Awareness Score (%) ■ I&M celebrated 50 years of serving customers, commitment, excellence and 34 innovation in 2024. ■ In this Golden legacy year, the Group’s brand spontaneous aw
Slide 17: Creating Impact
Classification: Confidential Creating Impact Resource Efficiency Enhancing the Quality of Life 6% decrease in staff travel emissions Environmental Conservation >490,000 Total number of trees grown (including seedling nurseries supported) 7% reduction in paper usage per employee Education and Skill D
Slide 18: Creating Impact
Classification: Confidential Creating Impact • Launch of the Imarisha Ngong Road Forest, a collaborative partnership with the Kenya Forest Service (KFS) to rehabilitate the Ngong Road Forest Sanctuary Block by Hon. Cabinet Secretary, Aden Duale, EGH and Founder of I&M Bank, Mr. SBR Shah, MBS on 24th
Slide 19: Recognition: Living Our Brand Promise – 2024 Awards
Classification: Confidential Recognition: Living Our Brand Promise ‘On Your Side’ – 2024 Awards 2024 2024 2024 2024 2024 2024 2024 Insight & Data Driven Influencer Marketing Digital Marketing Best CX Strategy 2nd Runner Up 2nd Runner Up Winner Marketing Campaign Most innovative Bank Best in Bank Ope
Slide 20: I&M Bank Limited, Kenya
VAAN | Group I&M BANK LIMITED, KENYA
Slide 21: Kenya macro economic environment
Classification: Confidential Kenya macro economic environment ■ Slowing economic growth: Kenya’s annual GDP growth rate was GDP Growth Forecast Overall Inflation Trend down to 4% in Q3 2024 (Q3 2023:6%). The general macro economic environment (with higher inflation and taxation in 1H 2024) led to 5.
Slide 22: Kenya: 71% contribution to Profit Before Tax
Classification: Confidential Kenya: 71% (2023:76%) contribution to Profit Before Tax; 72% (2023:70%) to Total Assets Key Ratios FY 2024 FY 2023 FY 2022 Operating Income (KES Bn) Profit Before Tax (KES Bn) 14.1 Cost to income ratio 41% 40% 36% 16% 33.7 Cost of Risk 2.6% 2.6% 2.3% 29.0 25.6 14% ROE 19
Slide 23: Leadership in our Corporate and Commercial
Classification: Confidential Leadership in our Corporate and Commercial Operating Income in KES Bn Trade Finance Leadership +27% Letters of Credit, Guarantees, Acceptances (KES Bn) 21.7 +20% 17.1 89 14.3 78 57 49 2022 2023 2024 Customer Growth in Thousands +22% 14 +16% 12 FY 2020 FY 2022 FY 2023 FY
Slide 24: Double the customer base
Classification: Confidential Double the customer base Strong Retail and SME Growth… ….driven by customer growth & engagement Operating Income (KES, Bn) No. of Customers in “000” 51% 447 +29% 13.1 31% +65% 295 10.2 225 6.2 Dec-22 Dec-23 Dec-24 2022 2023 2024 6X 10.0 Average Lending (KES, Bn) 8.6 +18%
Slide 25: Tracking Growth: Wealth Management/Bancassurance Trends
Classification: Confidential Tracking Growth: Wealth Management/Bancassurance Trends Wealth and protection powering the bottom-line Expanding reach, Expanding returns Wealth Management - AUM (KES Bn) No. of Customers (Wealth Management) in “000” +81% +204% 31 5.6 +64% 17 +133% 10 1.9 0.8 2022 2023 2
Slide 26: Spontaneous awareness growth from 20% to 34%
Classification: Confidential Spontaneous awareness growth from 20% to 34% Our commitment to market relevance Key Achievements 15 New Branches (2024) 22 I&M Presence (Counties) >159k New customer acquisitions (2024) Classification: Confidential
Slide 27: Scaling up without compromising customer experience
Classification: Confidential Scaling up without compromising customer experience Public sentiment leadership: A reflection of trust Growth without trade-offs: Still leading in NPS Overall Public Sentiment Score 75% 72.2% 71% I&M Bank 66% BANK A 26.4% 62% BANK B 23.3% BANK C 13.4% BANK D 12.7% BANK E
Slide 28: Subsidiary Performance Highlights
SUBSIDIARY PERFORMANCE HIGHLIGHTS
Slide 29: Tanzania macro economic environment
Classification: Confidential Tanzania macro economic environment GDP Growth Forecast Overall Inflation Trend ■ GDP Growth: 6.3% 3.1% 3.1% 3.1% Tanzania was one of the few countries in Sub-Saharan Africa 6.0% that had a GDP growth rate greater than 5% at 5.4% in 2024. In Q3 2024 the GDP growth rate w
Slide 30: Tanzania: 5% contribution to Profit Before Tax
Classification: Confidential Tanzania: 5% (2023:2%) contribution to Profit Before Tax; 7% (2023:8%) to Total Assets Operating Income (KES Bn) Profit Before Tax (KES Bn) Key Ratios FY 2024 FY 2023 FY 2022 5.2 Cost to income ratio 55% 62% 73% 49% Cost of Risk 4.9% 5.4% 6.5% 1.06 56% 3.5 ROE 13.6% 4.8%
Slide 31: Rwanda macro economic environment
Classification: Confidential Rwanda macro economic environment GDP Growth Forecast Overall Inflation Trend 6.4% . 6.2% 7.0% ■ Strong GDP Growth: 6.8% Rwanda's economy demonstrated strong performance, with real GDP averaging 9.2% for the first three quarters of the year (8.2% in the prior year). 6.5%
Slide 32: Rwanda: 15% contribution to Profit Before Tax
Classification: Confidential Rwanda: 15% (2023:12%) contribution to Profit Before Tax; 13% (2023:15%) to Total Assets Operating Income (KES Bn) Profit Before Tax (KES Bn) Key Ratios FY 2024 FY 2023 FY 2022 7.4 2.9 27% Cost to income ratio 51% 62% 60% 5.8 57% Cost of Risk 2.0% 1.4% 1.5% 23% 4.7 1.9 R
Slide 33: Uganda macro economic environment
Classification: Confidential Uganda macro economic environment GDP Growth Forecast Overall Inflation Trend 3.9% 12.3% ■ GDP Growth 3.3% 3.3% 3.0% Uganda was one of the few countries in Sub-Saharan Africa with 2.8% a projected GDP growth rate greater than 5%. The GDP growth 7.5% 5.9% rate was 6.7% in
Slide 34: Uganda: 4% contribution to Profit Before Tax
Classification: Confidential Uganda: 4% (2023:3%) contribution to Profit Before Tax; 7% (2023:7%) to Total Assets Operating Income (KES Bn) Profit Before Tax (KES Bn) Key Ratios FY 2024 FY 2023 FY 2022 3.4 0.8 Cost to income ratio 78% 80% 90% 0.7 2.6 29% -38% Cost of Risk -0.2% 0.8% -7.1% 78% 37% RO
Slide 35: Mauritius macro economic environment
Classification: Confidential Mauritius macro economic environment GDP Growth Forecast Overall Inflation Trend ■ GDP Growth Mauritius’s economy continued to grow strongly, supported by 6.1% 4.9% strong momentum in tourism and investment. In Q3 2024, 3.9% Mauritius annual GDP grew by 6.3%. (Q3 2023: 3
Slide 36: Mauritius: 5% contribution to Profit Before Tax
Classification: Confidential Mauritius: 5% (2023:8%) contribution to Profit Before Tax Operating Income (KES Bn) Profit Before Tax (KES Bn) 6.0 2.6 Key Ratios FY 2024 FY 2023 FY 2022 5.7 5% Cost to income ratio 60% 62% 67% 1.89 4.0 41% 80% -27% Cost of Risk 0.6% -0.7% -0.2% 1.4 ROE 13% 20% 14% Loan
Slide 37: Group Financial Highlights
VAAN | Group GROUP FINANCIAL HIGHLIGHTS
Slide 38: Group Income Statement
Classification: Confidential Group Income Statement Operating Income (KES Bn) Profit before Provisions (KES Bn)* 27.7 Key Ratios FY 2024 FY 2023 FY 2022 22.3 24% 51.2 Cost to income ratio 46% 48% 45% 42.7 20% Cost of Risk 2.6% 2.5% 2.3% 14% 19.6 ROE 17% 15% 15% 35.7 20% ROA 2.9% 2.6% 2.7% FY 2022 FY
Slide 39: Group Balance Sheet
Classification: Confidential Group Balance Sheet Total Assets (KES Bn) Customer Deposits (KES Bn) 417 412 Key Ratios FY 2024 FY 2023 FY 2022 580 1% 581 -1% 33% Loans to Deposits 70% 75% 76% 312 437 33% Net NPA 4.7% 5.0% 2.5% Total Capital/Total Risk 21% 19% 21% Weighted Assets Liquidity Ratio 52% 45
Slide 40: Strong Liquidity and Capital Position Across Subsidiaries
Classification: Confidential Strong Liquidity and Capital Position Across Subsidiaries Liquidity Ratio Capital Adequacy 54% 51% 25.3% 47% 41% 18.9% 17.4% 17.7% 35% 17.3% 14.50% 15.0% 14.50% 14.5% 20% 20% 20% 20% 20% 12.5% Kenya Rwanda Tanzania Uganda Mauritius Kenya Rwanda Tanzania Uganda Mauritius
Slide 41: Financial Metrics
Classification: Confidential Financial Metrics Earnings Per Share (KES) Book Value Per Share (KES) Dividends Per Share (KES) 9.3 3.00 57.3 7.6 22% 53.4 7% 2.55 18% 6.8 46.4 12% 15% 2.25 13% FY 2022 FY 2023 FY 2024 FY 2022 FY 2023 FY 2024 FY 2022 FY 2023 FY 2024 Share Price Movement (KES) 40.00 36.25
Slide 42: Group Summary Highlights
Classification: Confidential Group Summary Highlights Total Income (KES) Profit Before Tax (KES) Profit After Tax (KES)* 51.2bn 20.8 bn 16.6 bn +20% +25% +24% *PAT before non-controlling interest Net Loans & Advances (KES) Customer Deposits (KES) Cost of Risk 287 bn 412 bn 2.6% -8% -1% Absolute -0.1
Slide 43: Disclaimer
Classification: Confidential 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 o
Slide 44: 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