I&M Group has posted a 20.2 percent jump in net profit in the first three months of the year to Sh4.7 billion, driven by higher interest income.
The lender’s net income rose from Sh3.9 billion a year earlier as the bank’s revenues from loans accelerated as cost of funds remained flat.
Net interest income for I&M soared 31.1 percent to hit Sh12.2 billion from Sh9.3 billion previously as payments to depositors held flat at Sh.6.1 billion.
Related
National Bank profit surges 3.7 times to Sh1bn on lower costs
