FY 2022: I&M Bank (Rwanda) Plc Full Year Financial Results

FY 2022 Financial highlights

-Growth in total assets was supported by both increase in Loan and Advances portfolio
and investments in Government Securities during the quarter

-4% increase in Loans and Advances was supported by new deals booked across all
segments

-Deposit liabilities increased on the back of growth in customer base by 34.4% YoY
Continued focus on deposit mobilization and CASA collection solutions

EXPLANATORY NOTES TO THE FINANCIALS

Net interest income grew by 19 percent year-on-year, driven by the growth in net loans and advances and the increase from money market and securities trading.

The Bank’s customer base growth and continued customer engagement have led to a steady growth in total deposits, which have recorded a 9 percent increase year on year.

Fees and commissions increased by 20 percent on the back of proper execution of revenue-generating strategic initiatives. An increase in foreign exchange volumes, and continued growth in digital transactions reflected a 25 percent year-on-year growth

Total operating expenses increased by 23 percent, in line with business growth and enhanced deployment of technology to improve customer experience, streamline our processes, and improve efficiency.

Tier 1 and 2 Capital are respectively 19.26 percent and 20.65 percent. Liquidity coverage ratio is 339 percent. Return On Equity and Return on Assets are respectively 13.92 percent and 1.92 percent.
 

Dividend:
The Board of Directors of I&M Bank (Rwanda) PLC has recommended the payment of FRW 1.84 dividend per share, a 55 percent increase over the prior year to be approved during the Annual General Meeting of shareholders scheduled to take place on 24th May 2023. If approved, dividend will be paid out on 19th June 2023 or thereabout to the shareholders of the Bank registered in the register of the members as at the close of business on the 24th May 2023.

Source: https://www.imbankgroup.com/rw/investor-relations/