Kenyan businessman Suresh Bhagwanji Shah set for $2 million I&M dividend

Kenyan businessman Suresh Bhagwanji Shah, the founder of I&M Bank Group, one of East Africa’s leading financial services groups, is set for a $2.06 million payday after the lender declared an interim dividend on the back of stronger earnings and customer growth.

I&M Bank raises interim dividend

I&M Bank Group, based in Nairobi, announced an interim dividend of Ksh2.61 billion ($20.11 million) for the third quarter ending Sept. 30, 2025, a 15.4 percent increase from the prior year’s figure. The payout will come from the bank’s Ksh80.8 billion ($621.74 million) in retained earnings, with shareholders set to receive Ksh1.5 ($0.012) per share on Jan. 14, 2026.

Shah holds a 10.58 percent stake in the bank, equivalent to 174,947,573 shares, cementing his place as one of Kenya’s wealthiest bankers. His holding will earn him Ksh267.75 million ($2.06 million), up from the $1.75 million he received from last year’s interim dividend.

I&M Group profit jumps 27.5% to Ksh12.7 billion

I&M saw its profit rise 27.5 percent to Ksh12.675 billion ($97.56 million) for the period ending September 30, 2025, from Ksh9.95 billion ($76.55 million) a year earlier. This was driven by a double-digit increase in both net interest income and non-interest income.

Net interest income climbed 21.1 percent to Ksh31.82 billion ($244.88 million), while non-interest income rose 17.9 percent to Ksh11.19 billion ($86.1 million). Operating income expanded 20.3 percent to Ksh43.01 billion ($331.01 million). 

The bank’s balance sheet showed continued strength, with total assets rising 12.8 percent to Ksh640.42 billion ($4.93 billion) and total equity climbing 29.9 percent to Ksh113.79 billion ($875.85 million). Customer deposits grew 10.2 percent to Ksh455.85 billion ($3.51 billion), while the net loan book increased 7.3 percent to Ksh301.91 billion ($2.32 million).