3 April 2013

Rwanda: Bank of Kigali Profits At U.S. $18.7 Million

Kigali — Bank of Kigali, Rwanda's only listed financial institution has revealed that it made net Income of RwF 11.8b ($18.7m) for the year ended 31 December 2012 posting a profit of 35.6%.

The bank's International Finance Reporting Standards (IFRS)-based results released last week also indicate that total Assets rose by 3.6% Quarter on quarter (Q-O-Q) and grew by 12.1% Year on year (y-o-y) to RwF 322.8b ($ 511.9m) as at 31 December 2012.

The Bank's loan book also grew along with the assets posting 12.4% q-o-q increase of net loans, 50.3% y-o-y to RwF 185.1b ($ 293.5m) as at 31 December 2012.

During 2012, the Bank reportedly disbursed RwF 63.3 billion worth of loans and advances to clients, the single biggest amount by an individual bank in the country.

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