Nairobi Securities Exchange-listed Bank of Kigali shareholders are set for Sh3.5 billion dividend payout after profits increased to Sh6.9 billion.
This is a 15 per cent rise in net profits from the last financial year.
The lender says the profits were boosted by a 16.6 per cent growth in the loan book to Sh213.5 billion.
Subject to shareholder approval the lender declared a Sh3.73 per share dividend earnings for the full year ended December 2022.
This is a 50 per cent payout of the Group’s after-tax income.
“We remain committed to delivering higher value for our shareholders and investors and are confident that we will continue to achieve even better results in the year 2023.” Said BK Group CEO Béata U. Habyarimana.
BK Group’s total interest income increased to Sh15.9 billion while the net loan book grew by 14.6 per cent to Sh125 billion year-on-year basis.
Non-interest income rose 22.8 per cent to Sh5.3 billion, helping to boost the Group total operating income by 5.8 percent to Sh21.2 billion.
Following an increase in operating costs BK Chief Executive Officer at Bank of Kigali, Diane Karusisi noted that the lender is working to reduce it to 40 Percent.
BK Group chairman Marc Holtzman said that the asset quality improved significantly with the non-performing loans (NPLs) ratio dropping to 2.6 percent compared to 5.3 percent in 2021.
“The company's success can be attributed to Rwanda’s post-Covid recovery and the Group’s focus on improving asset quality and profitability. We are pleased to see double-digit growth across all key performance metrics,” Said Holtzman.
The Bank of Kigali Plc chief executive Diane Karusisi noted that client balances & deposits increased by 10.3 per cent year-on-year to Sh123.8 billion as at December 31st, 2022; underlining the lender’s strong growth trajectory backed by both corporate and retail client pipelines.
The agency banking network expanded to 3,735 agents and processed over 6.9 million transactions worth Sh149.4 billion.
