IMH | I&M Holdings FY20 Earnings Note | AIB AXYS Africa

    I&M Holdings’ FY20 net earnings plummeted 21.7% y/y to KES 8.1B, fueled by a 288.5% swell in loan loss provisions and a 7.1% y/y rise in operating expenses. We recommend a BUY on I&M Holdings with a target price of KES 57.20 offering a potential upside of 30. 0% on the current price of KES 44. 00. T o the delight of shareholders, the group announced a Bonus share issue of 1:1 with book closure slated for 10th May 2021 and declared a KES 2.25 dividend per share with book closure slated for 15th April 2021 and payment date on 20th May 2021.

     

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    AIB-AXYS Africa
    AIB-AXYS Africa Ltd is the fusion of two established companies; AIB Capital Limited and Apex Africa Capital Limited, both with over 25 years of experience in the Securities market. With the solid reputation and experience of the professional teams, we leverage talent and networks to better service businesses and investors looking to capitalize on the African growth story, and its vibrant financial sector.
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