Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to KSh70.00, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 6x in the Banks industry in Kenya. Total returns to shareholders of 411% over the past three years. Reported Earnings • Jun 08
First quarter 2026 earnings released: EPS: KSh2.71 (vs KSh2.33 in 1Q 2025) First quarter 2026 results: EPS: KSh2.71 (up from KSh2.33 in 1Q 2025). Revenue: KSh13.5b (up 19% from 1Q 2025). Net income: KSh4.72b (up 20% from 1Q 2025). Profit margin: 35% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Apr 21
I&M Group PLC, Annual General Meeting, May 21, 2026 I&M Group PLC, Annual General Meeting, May 21, 2026, at 10:00 E. Africa Standard Time. Upcoming Dividend • Apr 10
Upcoming dividend of KSh2.25 per share Eligible shareholders must have bought the stock before 17 April 2026. Payment date: 21 May 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 7.4%. Within top quartile of Kenyan dividend payers (7.1%). In line with average of industry peers (7.6%). Reported Earnings • Mar 27
Full year 2025 earnings released: EPS: KSh10.79 (vs KSh9.30 in FY 2024) Full year 2025 results: EPS: KSh10.79 (up from KSh9.30 in FY 2024). Revenue: KSh51.6b (up 22% from FY 2024). Net income: KSh18.8b (up 22% from FY 2024). Profit margin: 36% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 09
Upcoming dividend of KSh1.50 per share Eligible shareholders must have bought the stock before 16 December 2025. Payment date: 14 January 2026. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 7.5%. Lower than top quartile of Kenyan dividend payers (7.6%). Lower than average of industry peers (8.5%). Reported Earnings • Nov 23
Third quarter 2025 earnings released: EPS: KSh2.37 (vs KSh2.15 in 3Q 2024) Third quarter 2025 results: EPS: KSh2.37 (up from KSh2.15 in 3Q 2024). Revenue: KSh13.0b (up 17% from 3Q 2024). Net income: KSh4.07b (up 14% from 3Q 2024). Profit margin: 31% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Sep 17
Price target increased by 11% to KSh42.12 Up from KSh37.99, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of KSh43.50. Stock is up 83% over the past year. The company posted earnings per share of KSh9.30 last year. 공시 • Sep 16
AfricInvest IV LLC managed by AfricInvest Group completed the acquisition of 10.1% stake in I&M Group PLC (NASE:IMH) from British International Investment plc. AfricInvest IV LLC managed by AfricInvest Group agreed to acquire 10.1% stake in I&M Group PLC (NASE:IMH) from British International Investment plc on November 3, 2023. The completion of the transaction is subject to regulatory approvals. As of March 8, 2024, All the 1,414 employees of the bank will be retained under the current employment terms. East Africa Growth Holding has secured Competition Authority of Kenyas (CAK) approval.
AfricInvest IV LLC managed by AfricInvest Group completed the acquisition of 10.1% stake in I&M Group PLC (NASE:IMH) from British International Investment plc on September 15, 2025. Reported Earnings • May 11
Full year 2024 earnings released: EPS: KSh9.30 (vs KSh7.63 in FY 2023) Full year 2024 results: EPS: KSh9.30 (up from KSh7.63 in FY 2023). Revenue: KSh42.4b (up 21% from FY 2023). Net income: KSh15.4b (up 22% from FY 2023). Profit margin: 36% (in line with FY 2023). Non-performing loans: 11.87% (up from 10.98% in FY 2023). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 19% per year. Board Change • May 08
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. 3 highly experienced directors. Group Executive Director Sarit Suresh Shah is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • Apr 30
I&M Group PLC, Annual General Meeting, May 22, 2025 I&M Group PLC, Annual General Meeting, May 22, 2025, at 10:00 E. Africa Standard Time. Upcoming Dividend • Apr 10
Upcoming dividend of KSh1.70 per share Eligible shareholders must have bought the stock before 17 April 2025. Payment date: 22 May 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 8.0%. Lower than top quartile of Kenyan dividend payers (10%). Lower than average of industry peers (11%). Price Target Changed • Apr 04
Price target increased by 8.7% to KSh34.67 Up from KSh31.89, the current price target is an average from 2 analysts. New target price is 9.7% above last closing price of KSh31.60. Stock is up 44% over the past year. The company posted earnings per share of KSh9.30 last year. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: KSh9.30 (vs KSh7.63 in FY 2023) Full year 2024 results: EPS: KSh9.30 (up from KSh7.63 in FY 2023). Revenue: KSh43.4b (up 24% from FY 2023). Net income: KSh15.4b (up 22% from FY 2023). Profit margin: 35% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 16% per year. Upcoming Dividend • Dec 10
Upcoming dividend of KSh1.30 per share Eligible shareholders must have bought the stock before 17 December 2024. Payment date: 14 January 2025. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 8.5%. Lower than top quartile of Kenyan dividend payers (12%). Lower than average of industry peers (10.0%). Reported Earnings • Nov 22
Third quarter 2024 earnings released: EPS: KSh2.15 (vs KSh1.81 in 3Q 2023) Third quarter 2024 results: EPS: KSh2.15 (up from KSh1.81 in 3Q 2023). Revenue: KSh11.1b (up 19% from 3Q 2023). Net income: KSh3.56b (up 19% from 3Q 2023). Profit margin: 32% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 13% per year. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to KSh29.40, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 3x in the Banks industry in Kenya. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment deteriorates as stock falls 39% After last week's 39% share price decline to KSh20.95, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 3x in the Banks industry in Kenya. Total returns to shareholders of 25% over the past three years. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: KSh1.38 (vs KSh1.35 in 2Q 2023) Second quarter 2024 results: EPS: KSh1.38 (up from KSh1.35 in 2Q 2023). Revenue: KSh9.20b (up 15% from 2Q 2023). Net income: KSh2.28b (up 2.1% from 2Q 2023). Profit margin: 25% (down from 28% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Aug 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Kenyan stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to KSh22.00, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 4x in the Banks industry in Kenya. Total returns to shareholders of 39% over the past three years. Price Target Changed • May 25
Price target increased by 11% to KSh24.38 Up from KSh21.90, the current price target is an average from 2 analysts. New target price is 31% above last closing price of KSh18.55. Stock is up 17% over the past year. The company posted earnings per share of KSh7.63 last year. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to KSh17.60, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 4x in the Banks industry in Kenya. Total returns to shareholders of 6.8% over the past three years. Upcoming Dividend • Apr 12
Upcoming dividend of KSh2.55 per share Eligible shareholders must have bought the stock before 19 April 2024. Payment date: 25 May 2024. Trailing yield: 12%. Within top quartile of Kenyan dividend payers (11%). Higher than average of industry peers (11%). Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: KSh7.63 (vs KSh6.77 in FY 2022) Full year 2023 results: EPS: KSh7.63 (up from KSh6.77 in FY 2022). Revenue: KSh35.8b (up 20% from FY 2022). Net income: KSh12.6b (up 13% from FY 2022). Profit margin: 35% (down from 38% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Sep 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Risper Ohaga was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: KSh1.35 (vs KSh1.28 in 2Q 2022) Second quarter 2023 results: EPS: KSh1.35 (up from KSh1.28 in 2Q 2022). Revenue: KSh7.99b (up 8.8% from 2Q 2022). Net income: KSh2.23b (up 5.3% from 2Q 2022). Profit margin: 28% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • May 11
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Risper Ohaga was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 14
Upcoming dividend of KSh2.25 per share at 11% yield Eligible shareholders must have bought the stock before 21 April 2023. Payment date: 25 May 2023. Trailing yield: 11%. Lower than top quartile of Kenyan dividend payers (11%). In line with average of industry peers (10.0%). Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to KSh19.80, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 4x in the Banks industry in Kenya. Total loss to shareholders of 5.5% over the past three years. Price Target Changed • Apr 27
Price target decreased to KSh26.63 Down from KSh28.89, the current price target is provided by 1 analyst. New target price is 45% above last closing price of KSh18.40. Stock is down 18% over the past year. The company posted earnings per share of KSh4.92 last year. Upcoming Dividend • Apr 15
Upcoming dividend of KSh1.50 per share Eligible shareholders must have bought the stock before 22 April 2022. Payment date: 26 May 2022. Trailing yield: 7.4%. Lower than top quartile of Kenyan dividend payers (8.9%). Lower than average of industry peers (8.4%). Reported Earnings • May 24
Full year 2020 earnings released: EPS KSh4.88 (vs KSh6.23 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: KSh21.4b (down 6.2% from FY 2019). Net income: KSh8.07b (down 22% from FY 2019). Profit margin: 38% (down from 45% in FY 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • May 22
Price target increased to KSh57.79 Up from KSh28.42, the current price target is provided by 1 analyst. New target price is 147% above last closing price of KSh23.35. Stock is down 5.5% over the past year. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 15% share price gain to KSh24.85, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 7x in the Banks industry in Kenya. Total loss to shareholders of 5.5% over the past three years. Upcoming Dividend • Apr 10
Upcoming dividend of KSh2.25 per share Eligible shareholders must have bought the stock before 16 April 2021. Payment date: 20 May 2021. Trailing yield: 4.7%. Lower than top quartile of Kenyan dividend payers (7.7%). Lower than average of industry peers (5.5%). Reported Earnings • Apr 04
Full year 2020 earnings released: EPS KSh9.77 (vs KSh12.47 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: KSh21.8b (down 4.7% from FY 2019). Net income: KSh8.07b (down 22% from FY 2019). Profit margin: 37% (down from 45% in FY 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day low: KSh42.10 The company is down 4.0% from its price of KSh43.70 on 12 November 2020. The Kenyan market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 2.0% over the same period. Is New 90 Day High Low • Jan 26
New 90-day high: KSh46.45 The company is up 6.0% from its price of KSh44.00 on 27 October 2020. The Kenyan market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: KSh46.05 The company is up 2.0% from its price of KSh45.00 on 18 September 2020. The Kenyan market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is down 1.0% over the same period. Reported Earnings • Dec 04
Third quarter 2020 earnings released: EPS KSh1.58 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: KSh4.72b (down 7.8% from 3Q 2019). Net income: KSh1.31b (down 35% from 3Q 2019). Profit margin: 28% (down from 39% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. 공시 • Jul 21
I&M Holdings PLC (NASE:IMH) agreed to acquire 90% stake in Orient Bank Limited from 8 Miles LLP and others. I&M Holdings PLC (NASE:IMH) agreed to acquire 90% stake in Orient Bank Limited from 8 Miles LLP and others on July 17, 2020. The transaction is subject to to several conditions, including receipt of all regulatory and corporate approvals, including those from the Central Bank of Kenya, the Capital Markets Authority, approval of shareholders of Bank of Uganda.