BPR returns to profitability

Banque Populaire du Rwanda (BPR), one of the oldest financial institutions and the largest in terms of client base has posted a Rwf403.2 million half-year net profit, a recovery from a Rwf1.8 billion loss recorded during the same period last year, a financial statement from the bank indicates.

Banque Populaire du Rwanda (BPR), one of the oldest financial institutions and the largest in terms of client base has posted a Rwf403.2 million half-year net profit, a recovery from a Rwf1.8 billion loss recorded during the same period last year, a financial statement from the bank indicates.

The lender’s wage bill eased to Rwf5 billion in June this year from Rwf5.6 billion last year.

On the other hand, client deposits went up marginally from over Rwf125.9 billion end last year to Rwf126.4 billion this year, while its loan book and advances decreased to Rwf97.1 billion during the reporting period from Rwf92.8 billion.

Deposits from other financial institutions, however, shot up from Rwf7.6 billion in December last year to Rwf9.4 billion this year. The bank recorded a rise in total assets and liabilities, from Rwf157.4 billion last year to Rwf168.3 billion this year.

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