Presenting its 2016 audited financial performance results on Wednesday, Bank of Kigali Group has announced it made a pre-tax profit of Rwf 30 billion last year, Rwf 4.3b more than the Rwf 25.6 billion reported in 2015.
The CEO of Bank of Kigali, Diane Karusisi, noted that the bank also paid over Rwf 9 billion in taxes, a 75% increase year on year.
She added that BK’s sound performance in a year during which it underwent a change in executive management is expected to bolster shareholder confidence. In addition, she said management will suggest to the board a 40% dividend pay-out to shareholders.
BK also opened four new branches last year, and its number of active banking agents grew to 1,280 from 1,043 in 2015.
Karusisi said that in a bid to reach even more unbanked people, BK plans to enable people to open bank accounts through its agents, in addition to the money deposits and withdrawals currently offered by them.
Regarding the 2017 strategy, the CEO said that the bank has a new credit rating policy in favour of businesses and individuals with low risk profiles, who will benefit from low interest rates.
“We want to encourage a practice where the credit profiles are beneficial to businesses and people that put in effort,” Karusisi explained.