I&M Group surpassed in-house expectations over the first half of 2024, despite the challenging macroeconomic environment, achieving a notable 21.1% y/y growth in net earnings to KES 6.10Bn.
Net interest margin expanded 80bps y/y - owing to higher yields on interest-earning assets.
Recommendation - We maintain our BUY recommendation on I&M Group underpinned by the improving return on equity and ongoing strategic initiatives.
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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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