Bank of Kigali recorded a net profit of over Rwf10.7 billion during the first six months of the year, which is a 9.3 per cent increase compared to Rwf9.8 billion the bank registered in the same period last year.

The bank made gains in its operating income, while its total expenses reduced, the lender said in a financial statement on Thursday.

Its net operating income rose from Rwf26.9 billion to Rwf27.3 billion during the period, while its total operating expenses dropped to Rwf13.7 billion from Rwf14.5 billion.

The Rwanda Stock Exchange-listed financial services provider’s total assets also grew from Rwf482.6 billion in June last year to Rwf539.5 billion this year, largely driven by a 20.3 per cent growth in the loan book.

The financial statement showed that the bank’s loans and advances to customers went up from Rwf233.4 billion mid-last year to Rwf280.96 billion this year, while client deposits also recorded strong growth, increasing from Rwf324.6 billion to Rwf383.9 billion during the reporting period.

ben.gasore@newtimes.co.rw