Higher interest returns push up BK's 2014 profit

Bank of Kigali (BK) net profit rose by 23.5 per cent last year, mainly driven by increases in net interest and non-interest incomes, a statement from the lender indicates.

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BK chief James Gatera.

Bank of Kigali (BK) net profit rose by 23.5 per cent last year, mainly driven by increases in net interest and non-interest incomes, a statement from the lender indicates.

The bank’s net interest income grew by 11.5 per cent, from Rwf35.2 billion to Rwf39.3 billion, while net non-interest income was at Rwf18.9 billion, up by two per cent, from about Rwf18.5 billion, mainly driven by an increase in loans, foreign exchange-related income and net fee and commission income.

The bank’s net profit grew to Rwf18.3 billion, from Rwf14.8 billion in 2013, an increase of 23.5 per cent. Its total operating income was at Rwf58.2 billion, an 8.2 per cent increase, while total operating costs were Rwf27.9 billion.

Its net loan book grew by 17.3 per cent last year to Rwf233.4 billion, while the bank’s clients balances and deposits increased by 15.7 per cent to Rwf324.6 billion.  

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