Rwanda: Bank of Kigali 2018 pretax profit up 25%

Bank of Kigali’s pretax profit rose 25 percent last year to 42.6 billion francs ($47.2 million), helped by higher interest income.

Bank of Kigali said, in a statement, its net interest income climbed 14 percent to 75.8 billion francs in the year through December.

“All our subsidiaries reported strong performance leading to a net income of RWf 27.4 Billion. We are focused on delivering higher value for our shareholders and plan to report even better numbers this year 2019,” said BK CEO Dr. Diane Karusisi

It also stated that it had approved a dividend payout of 10.9 billion francs, equivalent to 12.2 francs per share.

The bank’s total assets stood at 877.4 billion francs as of December and also cross-listed on the Nairobi stock exchange.

Recently the bank also increased its stamp on the local market introducing officially the BK capital that offers advisory and investment services, in partnership with a Mauritius company.

When BK shares went public in 2011, its IPO generated Rwf37.5 billion. Last year the bank issued 200 million new shares on the local bourse to raise Rwf60 billion to finance its expansion strategy.