The lender’s financial results for the period ending March 31, 2026 also show net operating income rising 18% to Rwf 19.7 billion, reflecting sustained business momentum despite a challenging global economic environment.
Total assets increased by 19% year-to-date to Rwf 1.3 trillion, while net loans grew sharply by 26% to Rwf 613.8 billion, supported by strong demand from SMEs, retail customers, and corporate clients aligned with key growth sectors of Rwanda’s economy.
Customer deposits also rose by 22% year-to-date, crossing the Rwf 1 trillion mark, underscoring growing public confidence in the bank.
The strong performance was largely driven by a 40% increase in net interest income, boosted by improved asset yields and efficient balance sheet management. Operating expenses rose by 19%, reflecting continued investments in digital infrastructure, cybersecurity, and talent development.
Despite rising costs, the bank improved its efficiency, with the cost-to-income ratio declining to 44.4% from 47.6% year-to-date. Asset quality remained stable, with a gross non-performing loan ratio of 1.5%, while the capital adequacy ratio stood at 18.1%, well above regulatory requirements.
Chief Executive Officer Benjamin Mutimura said the results demonstrate resilience in a difficult global environment.
“The first quarter of 2026 reflects the continued resilience of our business model in a complex and evolving global environment. While external conditions remain uncertain, we have maintained a disciplined approach to execution, with a focus on customer-led growth and delivering sustainable long-term value for our stakeholders,” he said.
He added that customer engagement continued to strengthen business performance.
“We continue to see strong confidence from our customers, our focus on improving the customer experience is contributing to stronger interaction levels and is having a positive impact on overall business performance,” Mutimura said.
During the quarter, the bank accelerated its digital transformation through the “Tsinda na Banki Muhorana” campaign, encouraging increased use of mobile and online banking services.
It also expanded its sustainability agenda through a partnership with the Rwanda Green Fund to support agritech SMEs focused on climate-resilient solutions.
In addition, the bank advanced inclusive finance through its “Berwa” women-focused programme, offering tailored financial services, mentorship, and financial literacy support. The initiative earned the bank recognition as Corporate Champion for Women in Leadership 2026 at the RWIBA awards.
Mutimura said the bank remains confident in sustaining growth while navigating ongoing macroeconomic uncertainty.
Incorporated in 1963, I&M Bank (Rwanda) PLC holds the distinction of being the oldest bank in Rwanda. It is a subsidiary of I&M Group PLC, a leading regional financial services group in Eastern Africa with a presence in Kenya, Tanzania, and Uganda, and a joint venture with CIEL Group (Bank One) in Mauritius.
With a comprehensive portfolio of personal, business, institutional, and corporate banking products available at its various locations, I&M Bank Rwanda caters to a diverse range of customer needs.
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