This has been revealed as BK Group Plc announced Financial Results.
BK Group Plc comprises of Bank of Kigali, BK TecHouse, BK General Insurance and BK Capital.
The company saw a record high net loan growth of 6.2% and total assets growth of 20.2 % (up to Rwf 907.8 billion) compared to previous year.
The CEO of BK Group, Dr Diane Karusisi said: “We attribute this growth to the innovative products we continue to roll out, and one of those new products is an unsecured personal loan of up to Rwf 30 million that our clients receive very favorably.”
She also mentioned that BK General Insurance recorded an impressive performance that shareholders were last year given chance to increase the initial capital to expand investment.
Nathalie Mpaka the Chief Financial Officer of BK Group Plc said the company continues to grow in terms of service delivery and asset.
During the first quarter, client balances & deposits increased by 5.7% quarter on quarter (q-o-q) and 19.6% year on year (y-o-y) to Rwf 562.4 billion (US$ 625.7 million) as at 31 March 2019.
Net loans and advances increased by 6.2% q-o-q and 26.4% y-o-y to Rwf 603.3 billion (US$ 671.2 million).
Shareholders’ equity increased by 2.2% q-o-q and 54.5% y-o-y to Rwf 199 billion (US$ 221.4 million) as at 31 March 2019.
Of the net profit in the first quarter of 2019, BK General Insurance earned Rwf 690 million up from Rwf 79 million increasing by 701%.
BK TecHouse earned Rwf 247 million up from Rwf 136 million increasing by 81%.
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