12 March 2014

Rwanda: Britam's Profits Before Tax Up

Financial services group, British-American Investments Company (Britam) recorded a profit before tax of Ksh3.2b (about Rwf24.4b), last year. This is a 12 per cent increase from the Ksh2.8b (Rwf21.4b) posted in 2012. Britam, which has a strong presence in Kenya, started operations in Rwanda last month. It also has offices in Uganda and South Sudan.

The firm's total revenues for the Group grew by 31 per cent to reach Ksh9.5b (Rwf72.4b), from Ksh7.2b (Rwf54.9b) in 2012, buoyed by the positive performance of its life, general and asset management businesses. Assets under management rose to Ksh36.2b (Rwf276b), from Ksh28.1b (Rwf214.2b), a 31 per cent annual increase. The Nairobi Stock Exchange listed company announced a final dividend of Ksh473m (Rwf3.6b).

Copyright © 2014 The New Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.