31 August 2014

Rwanda: KCB Rwanda Registers Rwf323 Million Half-Year Net Profit

KCB rwanda, a subsidiary of Kenya Commercial Bank Group, recorded Rwf323 million net profit in the first half of the year, up from Rwf199.9 million in a similar period last year.

Its net operating income grew from Rwf4.2 billion to Rwf4.7 billion in the same period, while operating expenses increased to Rwf4.2 billion from Rwf3.9 billion.

The Rwanda Stock Exchange-listed bank's loan book was up from Rwf45.9 billion last year to Rwf54.5 billion this year, mainly due to a rise in mortgage loans, which were at Rwf15.3 billion from Rwf13.9 billion between January and June 2013. The banks non-performing loans decreased marginally from Rwf4.2 billion last year to Rwf3.8 billion as at end June this year, while its total assets grew to Rwf102 billion from Rwf86.8 billion.

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