{"id":101778,"date":"2023-08-31T20:20:15","date_gmt":"2023-08-31T20:20:15","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit"},"modified":"2023-09-01T10:28:53","modified_gmt":"2023-09-01T10:28:53","slug":"interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit","title":{"rendered":"Interest, transactions income drive BK Group to Sh4.4bn H1 profit"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Nairobi Securities Exchange listed lender BK Group has reported a 30.3 percent jump in half year net profit to Sh4.4 billion, driven by a strong growth in interest and transactions income.<\/p>\n

The lender reported a 22.5 percent growth in total revenue to Sh12.9 billion, reflecting a strong performance of its loans book and non-funded income. The Rwanda Stock Exchange and NSE listed Group kept its operating costs in check, registering a 15.6 percent growth to Sh5.2 billion.<\/p>\n

BK Group CEO, Be\u0301ata Habyarimana said the Group achieved a commendable year-on-year net income growth, paralleled by substantial growth across all key performance indicators.<\/p>\n

\u201cBK Group Plc exhibited an impressive performance in the first half of 2023 that not only underscored the economy\u2019s resilient rebound but also highlighted significant strides in enhancing asset quality and bolstering profitability. Notably,\u201d said Habyarimana. The Group\u2019s businesses, including the banking, insurance and investment units all reported strong growth in the period.<\/p>\n

BK Group\u2019s flagship business, Bank of Kigali, maintained a strong performance, outperforming its Rwandan peers in the first six months of the year based on key industry parameters such as growth in total assets, net loans, client deposits and shareholders\u2019 equity.<\/p>\n

Total assets grew by 16.1 percent year-on-year to Sh228.5 billion, net loans increased 4.4 percent to Sh138.5 billion while Client balances and deposits went up 21.5 percent to Sh140.7 billion.<\/p>\n

\u201cTotal interest expenses decreased by 6.0 percent to Sh2.9 billion due to a decreasing cost of funds, resulting from fruitful efforts to mobilize cheaper deposits. Asset quality is generally improving with the Non-Performing Loans ratio and Cost of Risk maintained at 2.3 percent and 2.0 percent respectively in the first half,\u201d said the Bank of Kigali CEO, Diane Karusisi.<\/p>\n

Bank of Kigali\u2019s Quick Now has registered 85,534 customers and disbursed over Sh445.7 million as at June 30th, while the IKOFI wallet has registered over 1,853 agro-dealers\/agents and on-boarded over 264,184 farmers.<\/p>\n

BK General Insurance recorded a profit of Sh204.8 million in the period, an increase of Sh12 million, supported by a 30 percent year-on-year growth in gross premiums. BK TecHouse reported 29 percent revenue increase to Sh88.9 million, while BK Capital\u2019s net operating income rose 96 percent to Sh90.6 million.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Nairobi Securities Exchange listed lender BK Group has reported a 30.3 percent jump in half year net profit to Sh4.4 billion, driven by a strong growth in interest and transactions income. The lender reported a 22.5 percent growth in total revenue to Sh12.9 billion, reflecting a strong performance of its loans book […]<\/p>\n","protected":false},"author":84,"featured_media":101777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-101778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nInterest, transactions income drive BK Group to Sh4.4bn H1 profit - kenya<\/title>\n<meta name=\"description\" content=\"Nairobi Securities Exchange listed lender BK Group has reported a 30.3 percent jump in half year net profit to Sh4.4 bil ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest, transactions income drive BK Group to Sh4.4bn H1 profit\" \/>\n<meta property=\"og:description\" content=\"Nairobi Securities Exchange listed lender BK Group has reported a 30.3 percent jump in half year net profit to Sh4.4 bil ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-31T20:20:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-01T10:28:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1693501629.033119.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Interest, transactions income drive BK Group to Sh4.4bn H1 profit\",\"datePublished\":\"2023-08-31T20:20:15+00:00\",\"dateModified\":\"2023-09-01T10:28:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit\"},\"wordCount\":379,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1693501629.033119.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/interest-transactions-income-drive-bk-group-to-sh4-4bn-h1-profit\",\"name\":\"Interest, transactions income drive BK Group to Sh4.4bn H1 profit - 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