The lender attributes the rise in profitability to solid growth in loans and deposits, increased customer engagement, and improved operational efficiency.
The bank's performance report shows that as of March 2025, total assets stood at Frw 910 billion, an 11% year-on-year increase. Net operating income rose by 16% to Frw 16.6 billion, driven in part by a 22% rise in foreign exchange income, stemming from higher volumes of customer forex transactions.
The bank disbursed loans amounting to Frw 397.3 billion, representing a 12% rise from the end of 2024. Customer deposits also grew by 13% to Frw 745.4 billion compared to the fourth quarter of 2024.
This growth was supported by an accelerated current and savings account acquisition strategy and enhanced client engagement efforts.
The bank also recorded a reduction in its cost-to-income ratio, which dropped from 51.2% to 45.4%, while maintaining a healthy capital adequacy ratio of 18.11%. I&M Bank Rwanda's customer base expanded by 9% year-to-date, reaching 110,000, largely driven by the success of its "Karame" retail campaign.
CEO Benjamin Mutimura said the first quarter marked a strong start to the year, with results building on the foundations laid in 2024.
'Our performance in 2024 reflects the success of the iMara 3.0 strategy. We have aligned with Rwanda's economic priorities while focusing on customer delight,' he said.
'The growth in our loan book and deposits speaks to the trust our clients place in us, particularly within the MSME and retail segments. Strategic campaigns like Karame and Ryoshya Iwawe have been instrumental in deepening customer relationships and expanding our market reach.'
Looking ahead, Mutimura affirmed the bank's commitment to ecosystem-led offerings and national presence expansion.
'Our goal is to positively impact over two million lives by 2026, in alignment with the country's development ambitions,' he noted.
Founded in 1963, I&M Bank Rwanda is one of the oldest financial institutions in the country. It was listed on the Rwanda Stock Exchange in March 2017 and is part of the I&M Group, which operates in Kenya, Tanzania, Uganda, and Mauritius.
IGIHE
Source : https://en.igihe.com/business-62/article/i-m-bank-rwanda-q1-net-profit-rises-to-frw-5-4-billion
