BK registers Rwf9.8b half-year profit

Bank of Kigali posted a 35 per cent increase in half year net profit to Rwf9.8 billion, from Rwf7.3 billion in June last year, a financial statement from the lender indicates.

Bank of Kigali posted a 35 per cent increase in half year net profit to Rwf9.8 billion, from Rwf7.3 billion in June last year, a financial statement from the lender indicates.

The bank’s net income from banking activities increased to Rwf30.6 billion from Rwf25.2 billion during the period. Its loan book also expanded, with equipment loans taking the largest share, increasing from Rwf54.6 billion last year to Rwf81.4 billion by end of June.

Mortgage loans dropped to Rwf44.1 billion, from Rwf49.1 billion last year, indicating a Rwf5 billion decline.

Treasury and consumer loans also declined during the period from Rwf43 billion and Rwf33.6 billion last year to Rwf39.7 billion and Rwf32.2 billion this year respectively.

However, overdrawn accounts grew to Rwf9.4 billion from Rwf8.98 billion, while non-performing loans increased to Rwf3.3 billion from Rwf1.86 billion last year.

 

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