12 November 2012

Rwanda: BK Wins Fourth Award in a Year

Bank of Kigali (BK) has scooped a fourth award in a just a year ending 2012 as one of the bank's most successful year in recent times.

The latest award, Best Financial Reporting Company in Rwanda, was announced during the FiRe awards ceremony in Nairobi recently.

Under this year's theme; "Promoting Corporate Excellence in East Africa," the competition attracted 93 entries with Kenyan institutions constituting 87% of the total number of entries. Some 23 banks participated.

The Financial Reporting (FiRe) award seeks to recognize excellence in financial reporting among institutions in the East African. It seeks to promote and institutionalize transparency, integrity, and accountability in the corporate reporting process.

"I would like to congratulate our team on their hard work and commitment upon winning this award. The bank and the country have both made considerable efforts to align accounting and auditing practices with the international generally accepted accounting principles..., we are very pleased to been honored with this prestigious award", the chief executive officer, James Gatera said.

The award is promoted jointly by the Nairobi Securities Exchange (NSE), Institute of Certified Public Accountants of Kenya (ICPAK), and the Capital Markets Authority (CMA). It has attracted participation from over 800 companies since its inception in 2002.

It's the fourth award BK, Rwanda's biggest commercial bank in asset and market share, has scooped this year.

The other awards include Best African Listing 2012 by the Africa Investor 2012 Index Series, Best East African Bank 2012, Bank of the Year 2012 by the Banker Magazine and Best Bank in Rwanda by emeafinance magazine, a publication of London-based Exporta Publishing & Events Ltd.

It's a remarkable achievement for the bank which became only the second domestic company to be listed on the Rwanda Stock Exchange in 2011. Since 2009, BK has been recognized for four years running as the best bank in Rwanda by emeafinance and three successive years as Bank of the Year by The Banker.

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