I&M Holdings has registered a 2.4 percent rise in net profit for the year ended December 2021, supported by interest income from loans and investment in government securities.
However, the growth was impeded by a 40.5 percent increase in operating expenses at Ksh 17.7 billion.
The Group’s net profit witnessed marginally rose by 2.4 percent from Ksh.8.4 billion to Ksh.8.6 billion.
The bank has recommended a 33.3 percent rise in dividend payout to KSh1.50 dividend per share or an aggregate of KSh2.48 billion compared to KSh1.125 per share and KSh1.86 billion in 2020.
“2021, being the second year of the pandemic, was not devoid of challenges. The Group made key investments during the period under review to help us position ourselves better for future growth through enhanced resilience initiatives and optimization of our operations,” said &M Group chairman Mr. Daniel Ndonye in a statement.
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