Robin Bairstow, CEO of I&M Bank Uganda
I&M Bank Uganda delivered a robust financial performance for the year ended 31 December 2024, as the institution reported significant growth across key financial metrics, including profit after tax, total assets, total revenue, net loans and advances, customer deposits, and shareholders’ equity.
The bank’s success came amid strong national economic indicators, with Uganda’s GDP expanding by 5.2% in 2024, driven by robust growth in agriculture, services, and industry
Key Highlights
– Profit After Tax: 77% growth to UGX 20.3 billion
– Total Assets: 16% growth to UGX 1.1 trillion
– Total Revenue: 36% growth to UGX 130 billion
– Net Loans and Advances: 35% growth to UGX 407 billion
– Customer Deposits: 10% growth to UGX 757 billion
– Shareholders’ Equity: 10% growth to UGX 219 billion
Leadership Insights
Robin Bairstow, CEO of I&M Bank Uganda, attributed the success to key investments and innovative initiatives. “Our upgraded core banking system, new data center, mobile banking app, and online banking platform have created a robust foundation for customer-focused banking solutions.”
Timothy Musiime, the Chief Financial Officer of I&M Bank, attributed the strong performance to successful implementation of the Bank’s business strategy, that led to achievement of key performance milestones across all the major financial metrics.
“Our 2024 results reflect a focused execution of our strategy. We strengthened income streams while managing costs carefully, which has enabled us to grow responsibly. We remain committed to sound financial stewardship that drives value for our customers, shareholders, and the wider economy,” Musiime said.
Driving Social Impact
The bank’s Corporate Social Responsibility (CSR) efforts reached over 630,000 people, supporting initiatives such as:
– Kabaka Birthday Run: Supporting the fight against HIV/AIDS
– Mental Health Awareness: Partnering with the Nnaabagereka Fund
– Donations: Mama kits, emergency trolleys, computers, and essential items to various communities
Future Outlook
The bank remains committed to upholding high standards of service, embracing innovation, and driving meaningful community engagement. With a strong leadership team and dedicated staff, I&M Bank is well-equipped to lead financial transformation and remain Uganda’s leading financial partner for growth.
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