Bank of Kigali has been recognised as the best bank in Rwanda for the second consecutive year by Global Finance, an international magazine with an experience of 35 years in financial reporting.
The banking institution is a subsidiary of BK Group which has three other subsidiaries — BK Insurance, BK TecHouse and BK Capital.
The financial magazine recognised the outstanding efforts of BK to serve its customers’ needs during the unprecedented economic conditions.
"We are delighted to have been awarded Best Bank in Rwanda 2022 by Global Finance for the second year in a row. This award is a recognition of the bank's strong leadership and positive impact in the market. We are committed to continue serving our customers with excellence, said Dr. Diane Karusisi, CEO of Bank of Kigali.
"The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success,” read the statement announcing the winning banks.
"With the financial world in a state of turmoil from Russia’s invasion of Ukraine, corporate leaders face a new set of challenges concerning the choice of their banking relationships,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance.
"Following on the enormous difficulties wrought by the pandemic, these changes demand increased attention to global commercial relationships. Our awards support decision-makers in selecting the best financial partners.”
Under the 29th annual session of the awards, BK was recognised alongside 35 other financial institutions from all corners of the world.
Selection of the nominees are made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world.
During the financial contest, banks were invited to submit entries supporting their selection and Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
Objective criteria considered included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products.
On the other hand, subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
The accolade reflects the Bank of Kigali’s commitment to restore growth and drawing a way forward during the unprecedented economic conditions created by Covid-19.
Headquartered in New York, with offices around the world, Global Finance, founded in 1987, has a circulation of 50,000 and readers in 189 countries.
Among its audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.
The winners will be honoured at a glamorous ceremony that will be held during the IMF/World Bank annual meeting headquartered in Washington DC in October 2022.
Global Finance accolades have become a trusted standard of excellence for the global financial community.