- Market Watch
- March 31, 2023
- 2 minutes read
Bank of Kigali To Pay Ksh 3.5 Billion In Dividends
BK Group Plc shareholders are set for a 3.73 shillings per share dividend earnings for the full year ended December…
BK Group Plc shareholders are set for a 3.73 shillings per share dividend earnings for the full year ended December 2022, representing a 50 percent payout of the Group’s after-tax income.
The Rwanda Stock Exchange and Nairobi Securities Exchange-listed lender recorded a 15.1 percent increase in net profit to 6.9 billion shillings on the back of a 16.6 percent growth in the loan book to 213.5 billion shillings.
“We take great pride in our investment towards our digital transformation journey. Our subsidiaries reported strong performances in 2022, which reinforces our position as a leading financial services provider. 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 15.9 billion shillings while the net loan book grew by 14.6 percent to 125 billion shillings year-on-year basis.
Non-interest income rose 22.8 percent to 5.3 billion shillings, helping to boost the Group’s total operating income by 5.8 percent to 21.2 billion shillings.
BK Group chairman Marc Holtzman noted 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 Mr. Holtzman.
The Bank of Kigali Plc chief executive Diane Karusisi noted that client balances & deposits increased by 10.3 percent year-on-year to KES123.8 billion as of 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 6.9M transactions worth 149.4 billion shillings.