GT Bank records Rwf567m loss

GT Bank Rwanda recorded a Rwf567.2 million loss in the first half of this year compared Rwf428.7 million after profit made during the same period last year.

GT Bank Rwanda recorded a Rwf567.2 million loss in the first half of this year compared Rwf428.7 million after profit made during the same period last year.

According to a financial statement released by the bank, its net income from banking activities went down from Rwf3.6 billion to Rwf3 billion in the same period, while expenses went up to Rwf3.5 billion this year from Rwf2.95 billion in June last year.

The bank’s loan book also narrowed from Rwf46.9 billion at the end of last year to Rwf46 billion this year, while overdrawn accounts increased from Rwf11.8 billion to Rwf14.7 billion.

However, its non-performing loans went down marginally from Rwf5 billion at the end of last year to Rwf4.8 billion this year.

 

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