Table of Contents
Key Points
- Cim Group's Q1 profit rose 13.6% to $5.6 million, driven by higher interest and non-interest income despite macroeconomic challenges.
- Loans and advances climbed to $250 million, while net investment in leases and credit agreements reached $273 million.
- Total assets grew to $604.4 million, supported by business expansion, including Cim Credit Kenya and an investment in Fundkiss.
CIM Financial Services Limited (Cim Group), a Port Louis-based financial services group led by Mauritian business executive Aisha Timol, posted resilient first-quarter results for its 2025 fiscal year, with profit rising to $5.6 million despite ongoing macroeconomic challenges.
According to the group’s abridged unaudited financial statements for the quarter ended Dec. 31, 2024, profit after tax grew by 13.6 percent, increasing from MUR231.2 million ($4.97 million) in the same period last year to MUR262.7 million ($5.65 million).
Interest, non-interest income drive profit growth
This growth was driven by higher interest and non-interest income, which rose from MUR823.3 million ($17.72 million) and MUR141.9 million ($3.05 million) to MUR996.5 million ($21.45 million) and MUR162.1 million ($3.5 million), respectively.
Revenue continued to improve in the first quarter, supported by steady asset growth. While inflation-driven cost pressures remained a concern, the overall strength of the loan book kept credit impairment allowances in check, helped by consistent collection efforts.
The company also recorded an increase in net investment in leases and credit agreements, rising from MUR11.06 billion ($238 million) to MUR12.7 billion ($273 million). Loans and advances grew as well, climbing from MUR9.16 billion ($197 million) to MUR11.61 billion ($250 million).
Cim Group assets rise to $604.4 million
Cim Group, which is listed on the Stock Exchange of Mauritius, operates through two key divisions: Cim Finance, which provides financial solutions to individual consumers, SMEs, and large corporations, and Cim Property, which manages a diverse portfolio of office, commercial, and industrial properties in Mauritius, along with significant land assets for future development.
Under Aisha Cassam Timol’s leadership, the group has continued to expand its footprint and diversify its offerings. It recently launched Cim Credit Kenya, a fintech-driven consumer finance business, and invested in Fundkiss, a peer-to-peer investment platform.
The company’s solid performance also boosted its total assets, which increased from MUR25.62 billion ($551.5 million) as of Sept. 30, 2024, to MUR28.08 billion ($604.4 million) by Dec. 31, 2024. However, retained earnings saw a slight decline, slipping from MUR5.15 billion ($111 million) to MUR5.06 billion ($109 million).
