{"id":38862,"date":"2023-04-01T17:06:41","date_gmt":"2023-04-01T17:06:41","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout"},"modified":"2023-04-01T17:31:50","modified_gmt":"2023-04-01T17:31:50","slug":"bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout","title":{"rendered":"Bank of Kigali Profits Rise to Rwf59.7 billion, Increases Dividend Payout"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>Bank of Kigali (BK Group) net profit for the year ended December 2022 rose by a 15.1 percent to Rwf59.7 billion, prompting the board to increase dividend payout.<\/p>\n

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The bank, which is listed on both the Nairobi and Rwanda stock markets, reported the rise in earnings from Rwf51.9 billion on the back of a 14.5 percent growth in the loan book to Rwf1,129,617,847,350.<\/p>\n

The lender has recommended a dividend of Rwf32.5, or half of the group\u2019s after-tax profit.<\/p>\n

The latest dividend is a rise from Rwf28.7 that was paid for each ordinary share in the previous financial year.<\/p>\n

BK Group CEO Be\u0301ata Habyarimana said the lender\u2019s subsidiaries reported strong performances during the year, helping boost the bottom-line.<\/p>\n

\u201cWe 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,\u201d said Ms Habyarimana.<\/p>\n

BK Group\u2019s net interest income increased to Rwf137 billion from Rwf136 billion on the back of increased lending while non-interest income rose 22.8 percent to Rwf26.3 billion, helping to boost the bottom-line.<\/p>\n

The Group chairman Marc Holtzman noted the asset quality recorded an improvement with non-performing loans (NPLs) ratio dropping to 2.6 percent compared to 5.3 percent in 2021.<\/p>\n

\u201cThe company\u2019s success can be attributed to Rwanda\u2019s post Covid-19 recovery and the group\u2019s focus on improving asset quality and profitability. We are pleased to see double-digit growth across all key performance metrics,\u201d said Mr Holtzman.<\/p>\n

BK Group joins other Nairobi Securities Exchange-listed firms in increasing dividends in what has been another good year for banks.<\/p>\n

The nine tier 1 lenders\u2014Equity, KCB, Co-operative Bank, NCBA, DTB, Stanbic Bank of Kenya, Absa Kenya, Standard Chartered Bank of Kenya and I&M\u2014 raised their dividend payout by 22 percent as profits soared.<\/p>\n

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

Africa-Press – Rwanda. Bank of Kigali (BK Group) net profit for the year ended December 2022 rose by a 15.1 percent to Rwf59.7 billion, prompting the board to increase dividend payout. Standard Chartered Bangladesh Credi…Please enable JavaScript Standard Chartered Bangladesh Credit Card – Bangla | Finance Tian The bank, which is listed on both the […]<\/p>\n","protected":false},"author":84,"featured_media":38860,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[760,763,758],"class_list":["post-38862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\nBank of Kigali Profits Rise to Rwf59.7 billion, Increases Dividend Payout - Rwanda<\/title>\n<meta name=\"description\" content=\"Bank of Kigali (BK Group) net profit for the year ended December 2022 rose by a 15.1 percent to Rwf59.7 billion, prompti ...\" \/>\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\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of Kigali Profits Rise to Rwf59.7 billion, Increases Dividend Payout\" \/>\n<meta property=\"og:description\" content=\"Bank of Kigali (BK Group) net profit for the year ended December 2022 rose by a 15.1 percent to Rwf59.7 billion, prompti ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-01T17:06:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-01T17:31:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2023\/04\/postQueueImg_1680352604.51.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"755\" \/>\n\t<meta property=\"og:image:height\" content=\"462\" \/>\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\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Bank of Kigali Profits Rise to Rwf59.7 billion, Increases Dividend Payout\",\"datePublished\":\"2023-04-01T17:06:41+00:00\",\"dateModified\":\"2023-04-01T17:31:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout\"},\"wordCount\":335,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2023\/04\/postQueueImg_1680352604.51.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"Rwanda\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/bank-of-kigali-profits-rise-to-rwf59-7-billion-increases-dividend-payout\",\"name\":\"Bank of Kigali Profits Rise to Rwf59.7 billion, Increases Dividend Payout - 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