{"id":47128,"date":"2022-11-30T12:13:57","date_gmt":"2022-11-30T12:13:57","guid":{"rendered":"https:\/\/new.igihe.com\/bk-group-plc-registers-rwf43-5-billion-net-income-in-first-nine-months-of-2022\/"},"modified":"2022-12-01T09:59:41","modified_gmt":"2022-12-01T09:59:41","slug":"bk-group-plc-registers-rwf43-5-billion-net-income-in-first-nine-months-of-2022","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/bk-group-plc-registers-rwf43-5-billion-net-income-in-first-nine-months-of-2022\/","title":{"rendered":"BK Group Plc registers Rwf43.5 billion net income in first nine months of 2022"},"content":{"rendered":"

BK Group Plc is the mother company of four subsidiaries including Bank of Kigali, BK General Insurance, BK TechHouse and BK Capital Ltd. <\/p>\n

As per released figures, the lender recorded Rwf134.8 billion total operating income and Rwf43.5 billion after-tax profit in the first nine months. <\/p>\n

As for the third quarter, the group registered Rwf15.2 billion after-tax profit.<\/p>\n

Commenting on the performance, the CEO of BK Group Plc, B\u00e9ata Habyarimana said: \u201cBK Group Plc recorded strong results in Q3 and first nine months of 2022; reporting a net income of Rwf43.5 billion. We are happy to see improvement in asset quality despite a turbulent macroeconomic environment. We remain Rwanda\u2019s leading financial group with over 30% market share on all key metrics teams remain committed to delivering great results and we are confident and optimistic that we will continue to meet shareholder\u2019s expectations.\u201d <\/p>\n

{{Subsidiaries\u2019 performance in the first nine months}} <\/p>\n

{ {{Bank of Kigali Plc}} }<\/p>\n

As at September 2022, the bank served 439,690 Retail customers and over 21,561 corporate clients, expanded the Agency Banking Network to 4,086 agents and processed over 1.8 million transactions worth Rwf357.0 billion. <\/p>\n

The lender has 68 branches, 13 outlets, 9 mobivans; 97 ATMs and 3,197 POS terminals that accept most international cards including VISA and MasterCard. <\/p>\n

Among others, retail clients\u2019 balances and deposits reached Rwf309.3 billion as at September 30th, 2022 while business banking clients\u2019 balances and deposits were Rwf818.0 billion as at September 30th, 2022. <\/p>\n

BK Quick now has 125,112 registered customers and has disbursed over Rwf1.8 billion as at September 30th, 2022 while IKOFI wallet has registered over 1,853 agro-dealers\/agents and over 264,082 registered farmers.<\/p>\n

{ {{BK General Insurance}} }<\/p>\n

As one of BK Group\u2019s subsidiaries, BK Insurance registered a profit of Rwf2.1 billion in quarter three compared to Rwf1.8 billion registered in same period last year, representing 15% growth in profitability. <\/p>\n

Gross Premium decreased from Rwf10.4 billion in the third quarter of 2021 to Rwf8.9 billion in 2022 reflecting a growth of 15%. <\/p>\n

Underwriting profit grew from Rwf1.7 billion to Rwf1.9 billion year-on-year, which represents a 12% growth. <\/p>\n

Total assets also increased by 9% y-o-y from Rwf21.7 billion to Rwf23.5 billion.<\/p>\n

{ {{BK TecHouse}} }<\/p>\n

As for the performance of BK TecHouse, sales revenue grew from Rwf735.7 million to Rwf867.2 million; representing an 18% increase while Net Operating Income reached Rwf1.1 billion; representing a 37% growth. <\/p>\n

{ {{BK Capital Ltd}} }<\/p>\n

The company\u2019s total revenues for the period stood at Rwf677.0 million. Assets under management grew by 128.3% YTD to Rwf2.4 billion; mainly due to improving product awareness, investment returns and consistent customer service. <\/p>\n

With RSE Market Share of 36.6%; the subsidiary sustained market share growth attributed to deepening client relationships and growth in related businesses. <\/p>\n

\"BK<\/figure>\n","protected":false},"excerpt":{"rendered":"

{BK Group Plc has reported Rwf43.5 billion net income in the first nine months 2022 representing an increase by 18.4% as at 30th September 2022 compared to the same period last year.} <\/p>\n","protected":false},"author":62,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[72,75],"byline":[170],"hashtag":[],"class_list":["post-47128","post","type-post","status-publish","format-standard","hentry","category-business","tag-featured-news-home","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/47128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=47128"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/47128\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=47128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=47128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=47128"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=47128"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=47128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}