The Commercial Bank of Rwanda, BCR, has announced that its loan portfolio grew from Rwf 37.6 Billion in 2011 to Rwf 52.5 billion in 2012 which is an increase of some 40%.
The Trend was announced Friday during An Annual General Meeting held at BCR Headquarters.
According to the Managing Director of BCR, Sanjeev Anand, the loan growth was across all segments with many customers enjoying the benefit of total packages of facilities.
Anand said BCR deposit grew from Rwf 70.6 billion to Rwf 85.5 billion, an increase of over 21% and the later contributed to good and sustainable liquidity.
In 2012, BCR has also gained about 1,750 new customers leading to a total of 31,000 customers that BCR has today.
It was noticed that BCR’s profit before tax for 2012 was Rwf 5.9 billion registering an increase of 36% over the previous year.
The after tax profit takes into account taxation of Rwf 1.7 billion (Rwf 1.5 billion in 2011), making BCR one of the largest contributors to the State treasury.
“We are delighted to inform you that BCR was awarded the best Bank in Rwanda for 2012 by Global Finance. This is the fourth year in succession in which BCR has received this prestigious award” Sanjeev said.
In association with I&M Bank BCR has introduced many services including eCommerce to enable online payment, the BRISK transfer facility for effective and efficient regional transfer among other services.
“We are very excited for being a part of a group (I&M Bank) which is growing regionally in a very good way” Sanjeev highlighted.
I&M Bank is a privately owned commercial bank headquartered in Kenya, with a growing regional presence currently extending to Mauritius, Tanzania and Rwanda.
BCR intends to use the membership to extend its services across the region
Sanjeev said that competition in the Banking sector is driving BCR in improving services it delivers to customers.
He said BCR remains committed in its desire to support capacity building of the SMEs as an engine of Rwanda’s industry growth.
BCR, which started operations in 1963, will celebrate its 50th Anniversary on 25 May, 2013.
“This is a significant milestone in BCR history and we intend to celebrate this occasion by involvement with the community, our customers and with our staff” MD Sanjeev Anand said.
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