Rwanda: Banking Industry Profits Increase By 14 Percent in Q1

The banking sector recorded marginal gains in the first quarter of the year, the National Bank of Rwanda (BNR) quarterly monetary policy and financial stability statement indicates.

John Rwangombwa, the central bank governor, said banks' profitability as indicated by the return on average equity (ROAE) and return on average assets grew to 14 and 2.6 per cent, respectively between January and March. This compares to 11.9 and 2.3 per cent, respectively recorded in March last year.

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