BK Group Plc reported a net income of Rwf25.2 billion in the first quarter of 2025, up 5.4 percent year-on-year, driven by strong interest income growth and disciplined cost management, according to the firm’s unaudited financials. According to the breakdown, return on average assets (ROAA) and return on average equity (ROAE) stood at 3.9 percent and 22.3 percent, respectively. Total assets rose by 3.3 percent year-to-date to Rwf2,605.7 billion, while net loans and advances grew 6.5 percent to Rwf1,548.1 billion. The Group also said that client deposits increased by 2.3 percent to Rwf1,679.9 billion. ALSO READ: BK Group declares Rwf27 billion dividend payout “We are pleased with the momentum carried into the first quarter of 2025 across all our subsidiaries, which reflects our continued focus on growing our core revenue, strengthening asset quality, and delivering sustainable returns to our shareholders,” said Uzziel Ndagijimana, the BK Group chief executive. “Despite headwinds in the macro environment, our disciplined execution and innovation across business lines have allowed us to remain resilient and forward-looking.” Interest income climbed 12.2 percent to Rwf65.9 billion, offsetting a 15.5 percent rise in interest expenses. Also increased by 11.2 percent is the net interest income to Rwf50.2 billion. However, non-interest income declined by 33 percent to Rwf13.3 billion due to a sharp drop in fees and commissions, among others. The Group’s cost containment efforts led to a 10.1 percent reduction in operating expenses, improving the cost-to-income ratio to 33.9 percent, down from 38.5 percent in Q4 2024. ALSO READ: BK Group Plc set to launch $40m equity fund after profitable 2024 Profit before tax increased 6.7 percent to Rwf35.6 billion, while earnings per share rose to Rwf108.2 from Rwf97.8 in the financial year 2024. The Group also said that its capital position remained strong, with core capital to risk-weighted assets at 20.5 percent and total qualifying capital at 21.7 percent. Liquidity was supported by a liquid assets-to-total assets ratio of 37.1 percent.
