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Bank of Kigali Drives Rwanda’s Economic Growth With 21.8% Profit Surge
Kigali, Rwanda – March 28, 2025 – Bank of Kigali (BK) has demonstrated remarkable financial performance in 2024, recording a 21.8% year-on-year increase in net income while expanding its support for key economic sectors including SMEs, agribusiness, and digital banking solutions.
Sector-Wise Growth and Economic Impact
By December 2024, BK’s total loan portfolio reached FRW 1,522 billion, fueling Rwanda’s economic transformation through strategic financing:
- SME Financing (FRW 207 billion): Empowered small businesses with working capital for stock purchases, import costs, and cash flow management
- Retail Lending (36.1% growth): Expanded access to housing loans, education financing, and salary advances
- Agribusiness (FRW 62 billion): Supported farmers and cooperatives with modern farming techniques and value addition
- Corporate Banking (10.3% growth): Financed infrastructure, tourism, healthcare, and education projects
Digital Innovation for Financial Inclusion
BK accelerated its digital transformation with key 2024 innovations:
- Self-onboarding feature for remote account opening
- BK Quick+ digital loans (up to RWF 50 million) with 15-hour disbursement
- Enhanced mobile and internet banking platforms
Corporate Social Responsibility Impact
Through the BK Foundation (1% of pre-tax profits), the bank made significant social investments:
- 464 STEM and TVET scholarships awarded
- 100,000 children supported through school nutrition programs
- 25 women-led businesses empowered via BK Urumuri Initiative
- 141 households provided with renewable energy solutions
Leadership Perspectives
Dr. Diane Karusisi, BK CEO, emphasized: “Our success is measured not just in numbers but in the lives we impact. By supporting SMEs, agribusiness, and corporate investments, we’re enabling economic resilience.”
BK Group Plc CEO Dr. Uzziel Ndagijimana noted the group’s 21.7% profit growth to Rwf91 billion, attributing success to “our diversified portfolio and Rwanda’s strong economic environment.”
Looking Ahead: Bigereho na BK Campaign
For 2025, BK launches “Bigereho na BK,” a customer-centric initiative offering tailored financial solutions for all segments of Rwandan society.
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