With deposits crossing UGX 1 trillion and assets nearing UGX 1.4 trillion, I&M Bank Uganda is entering a new phase of growth defined by scale, stability, and momentum.
I&M Bank Uganda’s 2025 financial results reflect another year of strong growth across key fundamentals, underscoring the continued progress of the bank’s transformation journey.
The bank delivered record performance across its core balance sheet and income lines, with customer deposits rising by 42% to UGX 1.08 trillion and total assets increasing by 29% to UGX 1.4 trillion.
This strong deposit growth builds on a sustained post-acquisition trajectory, with balances rising from UGX 573.7 billion in 2021 to UGX 1.08 trillion in 2025.
Over this period, deposits have grown at a compound annual rate of approximately 17%, with momentum accelerating in the last two years.
In its accompanying commentary, the bank attributes this growth to deepening customer trust, improved digital capabilities, and a more stable operating model.
Over the past three years, I&M Bank has invested significantly in systems modernisation and digital channels—investments that are now translating into higher customer engagement and increased transaction volumes across mobile and online platforms.
Chief Executive Officer Robin Bairstow notes that the consistent growth in deposits has been central to the bank’s performance, describing it as “the key enabler of our performance this year,” driven by “growing customer confidence and deeper engagement across segments.”
At the same time, the shift from infrastructure build-out to operational optimisation has enhanced service delivery and accessibility, making it easier for customers to save, transact, and interact with the bank.
As Bairstow explains, “2025 marked a transition from system build to operational optimisation,” with rising digital adoption playing a central role in improving efficiency and customer activity.
From a governance perspective, Board Chairman Francis Kamulegeya links this growth to strengthening institutional credibility and renewed confidence. “2025 marked a decisive shift to consolidation—anchored in strong balance sheet growth, deepening customer trust, and a firm commitment to disciplined, sustainable expansion,” he says.
Deposits Fuel Lending and Drive Disciplined Growth
On the back of a 42% surge in customer deposits to UGX 1.08 trillion, I&M Bank Uganda has strengthened its capacity to lend, invest, and expand its balance sheet in a measured and sustainable way.
The milestone—crossing the UGX 1 trillion mark for the first time—has provided a stable funding base, enabling the bank to support an 18% increase in net loans and advances to UGX 480.8 billion, while also deploying liquidity into other income-generating assets.
“The most defining feature of our performance in 2025 was the strength of our balance sheet and the confidence it reflects,” Kamulegeya notes.
For Bairstow, deposits have been central to execution: “Growth in customer deposits has been the key enabler of our performance this year. It has strengthened our funding base, improved liquidity, and provided the capacity to scale lending in a measured and sustainable way.”
Despite the increase in lending, the bank has maintained discipline. Net loans and advances grew by 18% to UGX 480.8 billion, deliberately trailing deposit growth, as the bank prioritised asset quality.
This approach is reflected in improved portfolio health, with non-performing assets declining to 3.4% from 4.9%, while non-performing loans reduced to UGX 17.1 billion from UGX 21.0 billion.
“We have remained clear that growth must not come at the expense of quality,” Kamulegeya emphasises.
Bairstow reinforces this approach: “As we scaled the business, we remained firmly focused on the quality of growth… The result is a cleaner, more resilient loan book that provides a solid platform for sustainable expansion.”
Together, the combination of strong deposit growth and disciplined lending highlights a model built on balance—where liquidity strength is translated into growth without compromising risk.
Revenue Growth and Operational Momentum
On the income side, the bank delivered strong top-line growth, with total revenue rising by 15% to UGX 149.4 billion—its highest ever.
This performance was supported by broad-based growth across key income lines. Interest income from loans and advances increased to UGX 61.8 billion from UGX 51.1 billion, reflecting the expansion in lending. Income from investment securities rose to UGX 45.1 billion from UGX 29.9 billion, highlighting stronger deployment of liquidity into fixed-income assets.
Net trading income grew to UGX 9.9 billion from UGX 6.9 billion, while fees and commissions income remained solid at UGX 12.8 billion, supported by increased transaction volumes across digital and alternative channels.
At the same time, the bank continued to invest in technology and infrastructure to support long-term growth. Operating expenses rose to UGX 87.9 billion from UGX 80.8 billion, reflecting ongoing investments in systems optimisation and business expansion.
Despite these investments, the bank maintained a disciplined cost structure. Profit before tax increased to UGX 10.4 billion from UGX 8.9 billion, demonstrating stronger underlying operating performance.
After accounting for taxation, net profit rose by 11% to UGX 10.23 billion from UGX 9.24 billion, signalling steady profitability growth even as the bank continues to invest in future capacity.
From Turnaround to Takeoff: A Five-Year Transformation
I&M Bank Uganda’s 2025 results present the clearest picture yet of a bank that has moved beyond recovery and is now operating at scale. With customer deposits at UGX 1.08 trillion, total assets at UGX 1.4 trillion, and lending at UGX 480.8 billion, the institution has entered a new phase defined by size, stability, and momentum.
This performance reflects consistent, compounding growth since the 2021 acquisition. Customer deposits have nearly doubled from UGX 573.7 billion to UGX 1.08 trillion, delivering a CAGR of about 17%.
Lending has grown even faster, rising from UGX 196.8 billion to UGX 480.8 billion—more than doubling (2.4x), with a CAGR of approximately 25%. Total assets have expanded from UGX 710.4 billion to UGX 1.4 trillion, effectively doubling, while total income has also nearly doubled from UGX 77.0 billion to UGX 149.4 billion.
Beyond scale, profitability has improved structurally, with the bank moving from a loss position at acquisition to sustained earnings above UGX 10 billion.
Taken together, these metrics point to a transformation that is both measurable and firmly established—marked by consistent double-digit growth across deposits, assets, lending, and income.
Looking Ahead: Scaling With Confidence
As I&M Bank Uganda enters its next phase, the emphasis shifts to scaling the business while maintaining the discipline that has underpinned its transformation.
Chairman Francis Kamulegeya underscores this direction, noting that “our focus remains clear: sustain improvements in asset quality, deepen deposit mobilisation, expand high-quality lending, strengthen non-funded income streams, and improve operating efficiency.”
With a stronger balance sheet, improved funding stability, and a more resilient loan book, the bank is increasingly well-positioned to deepen its role in financing businesses and households across Uganda.For CEO Robin Bairstow, the outlook reflects growing confidence in the bank’s trajectory: “The transformation is real, the progress is measurable, and the foundation is strong.”
