The CEO of I&M Bank, Benjamin Mutimura credits the bank’s diverse business model, resilient balance sheet, and commitment to customer service for these results despite challenging macroeconomic conditions.
Net revenue reached Rwf21.5 billion, with a 4% increase in net interest income due to loan and investment growth. Fees and commissions rose by 22%, driven by digital adoption and an expanding customer base.
Foreign exchange revenue surged by 59%, while operating expenses grew by 26%, attributed to technological investments and inflation. The Non-Performing Loans ratio remained stable at 3.62%, demonstrating an improved loan book quality.
Total deposits increased by 10%, with MSME deposits growing by an impressive 36%. Around 72% of customer deposits were in current and savings accounts. To enhance MSME focus, I&M Bank formed a strategic alliance with FMO, a Dutch development bank, to establish the NASIRA Portfolio Guarantee for smallholders, youth, and women entrepreneurs.
Mutimura emphasized the bank’s commitment to economic recovery, innovation, digital solutions, and strong customer relationships.