April 1, 2026
VM Investments Limited (VMIL)
Audited financials for the year ended December 31, 2025:
VM Investments Limited (VMIL) for the year ended December 31, 2025, reported a 1% increase in Interest Income totaling $1.73 billion compared to $1.73 billion in the corresponding period last year. Interest Income for the fourth quarter had a 7% decrease to close at $422.85 million compared to $454.66 million for the comparable quarter of 2024.
Interest Expense amounted to $1.55 billion (2024: $1.60 billion), this represents a decrease of 3% year over year. Consequently, net interest income increased by 24% to $187.23 million compared to $151.40 million for the year ended December 31, 2024. The company booked net interest income of $639,000 for the fourth quarter versus net interest income of $33.30 million reported for the similar quarter of 2024.
Gains from investment activities decreased by 23% to close at $1.11 billion (2024: $1.44 billion), while Net fees and commissions decreased by 1% from $1.01 billion in 2024 to $1.01 billion in the period under review. Also, other operating revenue for the year ended December 31, 2025, amounted to $2.17 billion, a 13% decrease relative to $2.49 billion reported in 2024.
Consequently, Net interest income and other operating revenue for the year ended December 31, 2025, amounted to $2.36 billion, a 11% decrease relative to $2.64 billion reported in 2024. Net interest income and other operating revenue for the fourth quarter amounted to $558.58 million (2024: $634.08 million).
Total operating expenses totalled $2.47 billion a 4% increase from the corresponding period last year. (2024: $2.38 billion).
Profit before taxation for the year ended December 31, 2025, amounted to $38.63 million, a 92% decrease relative to $454.68 million reported in 2024. Profit before taxation for the fourth quarter amounted to $93.69 million (2024: Pre-tax loss of $204.27 million).
Taxation for the year ended December 31, 2025, had a 26% increase to reach $127.34 million (2024: $101.04 million). As such, Net Profit for the year amounted to $165.98 million, a 70% decrease from the $555.72 million reported in 2024. For the fourth quarter, Net Profit was $147.90 million (2024: Net loss of $91.49 million).
Consequently, Earnings Per Share for the year amounted to $0.11 (2024: EPS: $0.37), while Earnings Per Share for the quarter totaled $0.10 (2024: LPS: $0.06). The twelve-month trailing EPS was $0.11 and the number of shares used in these calculations was 1,500,025,000.
Notably, VMIL’s stock price closed the trading period on March 31, 2026, at a price of $1.86 with a corresponding P/E ratio of 16.81x.
Balance Sheet Highlights
The company’s assets totalled $35.06 billion (2024: $30.46 billion). The growth in total assets was driven primarily by a $5.27 billion increase in ‘Investment Securities’, while ‘loans’ declined by $1.07 billion to partly offset the movement.
Shareholder’s equity was $3.10 billion (2024: $3.07 billion), representing a book value per share of $2.07 (2024: $2.05).
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