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HomeFEATURED STORYI&M Holdings posts 17% growth in profit to Sh8.5 billion

I&M Holdings posts 17% growth in profit to Sh8.5 billion

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The I&M Holdings Group has reported a 17% growth in net profit to Ksh8.5 billion for the financial year ended December 2018 up from the Ksh7.2 billion it reported the previous year.

The group’s total operating income also grew to Ksh23.1 billion from Ksh21.3 billion during the period under review.

Also on the upward trajectory was the group’s total interest income which adjusted up to Ksh25.9 billion from Ksh24.4 billion it posted in 2017.

The group’s loan book also grew to Ksh20.6 billion, Ksh1.79 billion more than it loaned out in 2017.

Customer deposits grew to Ksh8.8 billion from Ksh7.5 billion while deposits and placements with banking institutions grew by Ksh213.3 million.

Following the company’s performance during the course of the year, group chairperson Daniel Ndonye says that the board has declared an interim dividend of Ksh3.90 per share amounting to Ksh1.6 billion for the year ended December 31, 2018.

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The board however does not recommend payment of a final dividend for the year ended 31 December 2018.

{See also: Muslim groups fight over Sh1 billion property in Eldoret Town}

“A final dividend of Ksh3.50 per share amounting to Ksh1.4 billion in respect of the year ended December 31, 2017 was paid on May 24, 2018,” says Mr Ndonye.


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