IMB offsets low growth with margin and cost discipline 30 January 2015 4:48PM John Kavanagh Building society IMB maintained its focus on managing its margin, costs and credit quality, and produced reasonable growth in earnings despite almost no growth in its loan portfolio during the December half.IMB reported a net profit of A$14.5 million for the six months to December - an increase of 6.4 per cent over the previous corresponding period.Interest revenue fell 2.6 per cent to $118.9 million but interest expense and impairment losses were also down, with the result that net interest income rose 7.9 per cent to $49.4 million.The net interest margin rose seven basis points to 2.07 per cent.Loans and receivables increased by just 0.5 per cent to $3.7 billion. The size of IMB's loan book has barely changed over the past couple of years.Deposits grew 4.8 per cent to $3.9 billion.IMB's capital adequacy ratio was 16.2 per cent.