Bank of Kigali to pay about Rwf6 billion in dividends

The Bank of Kigali shareholders will share a total dividend payout of Rwf5.9b for 2012, James Gatera, the Bank of Kigali chief executive officer, said.
business@newtimes.co.rw
business@newtimes.co.rw

The Bank of Kigali shareholders will share a total dividend payout of Rwf5.9b for 2012, James Gatera, the Bank of Kigali chief executive officer, said.

This translates to an annual dividend of about Rwf8.83 per share or 4.5 per cent dividend yield, based on the current share price of Rwf195, he added.

Shareholders are expected to register by June 15 to receive their dividend payment on June 28.

The payout would be in accordance with the 50 per cent dividend payout policy of the bank’s audited net income, Gatera noted.

“Shareholders are part of the success story of the bank because it’s with their investments that we have been able to perform excellently,” he added.

Meanwhile, Bank of Kigali has recorded a 35.6 per cent increase in net revenue, posting Rwf11.8b for the year ended December 2012. This compares to the Rwf8.7b registered in 2011.

The bank’s total assets expanded by 12 per cent to Rwf322.8b, whereas the loans increased by 50.3 per cent.

Over the year, the bank disbursed Rwf63.3b loans and advances to clients, Gatera said.

“Our loan book saw a considerable growth of 50 per cent, driven by increased lending to the SME sector, as well as a sustained focus on executing our retail strategy,” Gatera said at a press briefing on Wednesday.

He said despite the entry of regional banks into the market, Bank of Kigali continued to dominate the local industry in all key metrics.

The bank’s total operating income increased to Rwf11.8b in the last quarter of last year, up by 25.5 per cent compared to the third quarter.

Its non-performing loans fell from 8.3 per cent the previous year to 6.5 per cent in 2012.

“In 2013, we intend to leverage our competitive advantage in broadening our retail banking franchise through delivery of innovative and inclusive financial services to all our customers,” said Lado Gurgenidze, the bank’s board chairman.

The bank registered over 66,000 new current accounts, bringing its total to 236,055. It opened 15 branches, bringing its total branch distribution to 59 outlets.


Subscribe to The New Times E-Paper


You want to chat directly with us? Send us a message on WhatsApp at +250 788 310 999    

 

Follow The New Times on Google News