I&M Bank Rwanda CEO breaks down the company’s Q3 performance

I&M Bank Rwanda has reported a 4% rise in asset base in the third quarter, according to the latest financial statement. CNBC Africa's recent interview with CEO Robin Bairstow shed light on the bank's solid performance and strategic decision-making during a challenging economic period. Bairstow attributed the bank's success to its strong customer base, particularly in the corporate and SME sectors. He highlighted the relaunch of the SME business at the beginning of the year, which contributed to robust growth. Retail business also showed steady progress. The bank managed costs effectively and handled impairments well, resulting in a positive overall performance. On the issue of non-performing loans, Bairstow emphasized prudent decision-making, sticking to strategy, and maintaining a robust credit review process. Despite economic uncertainties, the bank's portfolio has remained relatively stable. Looking ahead, Bairstow acknowledged the potential impact of external factors such as the fourth wave of COVID-19 and supply chain disruptions on the economy. However, he commended the resilience of the bank's clients and expressed confidence in their ability to navigate challenges. He also discussed the quality of loan applications, noting strong interest from new investors and steady growth in the existing portfolio. Bairstow identified commercial real estate and tourism as sectors facing prolonged recovery post-pandemic. While the bank continues to operate in these sectors, it assesses risks carefully and monitors cash flows closely. The conversation also touched on the bank's new headquarters, which, despite financial implications, serves as a brand-building asset and a symbol of modernization. Bairstow explained that the new building aligns with the bank's product innovation and reinforces its market presence. In terms of financial performance, Bairstow acknowledged that asset growth was slightly below expectations but noted higher income generation. Notably, digital products contributed significantly to a 14% income growth, reflecting the bank's ongoing digitalization efforts. Operating income rose due to cost control measures and increased revenue from digital platforms. Bairstow emphasized the bank's focus on cost efficiency and revenue growth, resulting in a positive outlook for the future.