Very good results. If anyone has the details for the individual banks/subsidiaries, please post the links on here.

The substantial increase (2x) on Net Impairment Losses on Loans. How many more loans of this sort? Are these loans still going bad?

Banks cannot continue growing at the pace they have been doing. I believe I&M is one of the more conservative banks but there is systemic risk as well.

...Conservative in that they have good earning per share but very low dividend payout per share. Much of the dividends are saved for a bad day(Risk) as it deals with mortgages that can crumble anytime like the irrelevant taxing on capital gains.

1) I believe it has tight(er) lending standards vs some banks which also accounts for a slower growth rate in loans. There are Pros and Cons but when times are tough the tight-fistedness becomes a pro.
2) The Capital Ratios are healthy i.e. I&M has space to grow in 2015 without the need to raise Capital. It can raise more capital but only if there is potential to grow safely.
3) It will retain 10.50 (of the 13.50) which is similar to other similar sized banks e.g. NIC, DTB which prefer retaining funds. Note that unlike NIC or DTB... I&M hasn't done a Rights Issue in 2014.
4) Systemic Risk refers to risk in the sector e.g. a bank collapses affecting the rest or problems affecting the sector in general e.g. a flurry of bad debts caused by skyrocketing interest rates.