I&M Bank posts net profit of Rwf7.5 billion in 2018

08th Apr 2019

Robin Bairstow, I&M Bank Chief Executive Officer

As a bank that aims at generating sustainable value for shareholders and customers, I&M Bank hosted, 29thMarch, an investor briefing, presenting audited financial results for the period ended December 31st, 2018.

I&M Bank played a principal part in the progress of the banking sector in Rwanda which recorded a total asset annual growth of 15% in 2018. “The bank attributes its overall good financial performance to continuous growth in customer deposits, monitoring of non-performing loans and loan books, a high liquidity coverage ratio exceeding minimum requirements and also an increase in basic and diluted earnings per share and a decline in incurred fees and commissions,” says Robin Bairstow, I&M Bank Chief Executive Officer.

Financial overview

By harnessing advanced technologies and through new distribution models, innovative products and services as well as enhanced customer experience, I&M Bank recorded a net profit of Rwf7.5 billion after tax and a 15% year-on-year increase in 2018 compared to Rwf6.5 billion reported in 2017. The bank’s total deposits grew to Rwf 230 billion, a 10.4 percent year-on-year growth from 209 billion in December, 2017. Additionally,thebank deposits increased by 10% due to increase in business banking that recorded a year-on-year growth of 35%.

I&M Bank performance review across major financial indices:

  1. Net loans and advances: Growth from 83 to 169 billion
  2. Total assets: Growth from 150 to 294 billion
  3. Total deposits: Growth from 114 to 231 billion
  4. Shareholders funds: Growth from 21.6 to 39.6 billion

With sixteen bank branches across Rwanda, I&M Bank achieved customer services free from regulatory complaints, great automation of online platforms like SPENN and iClick, access to products and services on a 24/7 basis and preferential rates on loans resulting into very low non-performing loans. I&M Bank won the award for best taxpayer by Rwanda Revenue Authority in 2017 and 2018, best customer services and best SME in the global banking and finance review in 2017 and 2018 and had an 88% overall health score on the McKinsey ranking on staff engagement and commitment.

1554120566Bairstow explains I&M Bank focus on generating sustainable value for shareholders

Bairstow explains I&M Bank focus on generating sustainable value for shareholders


I&M Bank currently deals in business accounts, asset-based finance, electronic banking, business finance, trade finance, advisory services, letters of credit and forex trading among others. In November 2018, the bank launched MSME banking project with the aim of customizing platforms to SME needs and continues to review SME banking models on a daily basis. Key investments in 2019 will include the construction of I&M Bank new head office premises to be completed December 2019. More innovative solutions in terms of business diversification, optimized channels and operational excellence are to be enhanced.


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