The Bank of Kigali (BK) has recorded 11.7 per cent increase in its full-year 2015 after-tax profit buoyed by growth in net interest income.
The listed lender’s net profit rose to $28.2 million for the period ended December last year from $26.7 million in 2014.
Net interest income grew to $63.8 million representing a 17.8 per cent rise from $57.3 million a year earlier.
“The performance and growth in the balance sheet testifies the bank’s resilience in creating value for its shareholders,” noted outgoing chief executive James Gatera.
However, unlike in 2014, the dividend per share has dropped by 20 percentage points to Rwf12.15 ($0.02), representing 40 per cent or total payout of Rwf8.2 billion ($11.3 million).
The bank will instead plough back the profit in tandem with its three-year policy to retain half of its earnings.
“Our shareholders and investors will be happy with the sustainability of the bank’s results and financial position. The bank plans to diversify its growth by venturing into other financial related services in line with the universal financial services model,” said Marc Holtzman, the chairman of the board.
