Bank of Kigali Reports 21.8% Growth, Fuels Rwanda’s Economic Development

Kigali, Rwanda – March 28th, 2025 – Bank of Kigali has demonstrated remarkable financial performance in 2024, achieving a 21.8% year-on-year increase in net income while expanding its support for SMEs, retail customers, agribusiness, and corporate sectors.

Record-Breaking Financial Performance

Bank of Kigali recorded a net income of RWF 89.7 billion in 2024, with its total loan portfolio reaching FRW 1,522 billion. This growth reflects the bank’s strategic investments across key economic sectors that drive Rwanda’s development agenda.

Sector-Specific Growth Highlights

Small and Medium Enterprises (SMEs)

The SME loan portfolio reached FRW 207 billion, supporting businesses in purchasing stock, covering import costs, and managing cash flow to ensure sustainability and expansion.

Retail Banking

Retail loans surged by 36.1% to FRW 276 billion, helping individuals with housing, education, and salary advance needs.

Agribusiness Financing

The agribusiness portfolio grew to FRW 62 billion, supporting farmers, coffee processors, and cooperatives with modern farming techniques and value addition.

Corporate and Institutional Banking

Corporate lending grew 10.3% to FRW 974 billion, financing infrastructure, tourism, healthcare and education sectors. The new Institutional Banking segment now serves NGOs and faith-based organizations.

Digital Innovation for Financial Inclusion

Bank of Kigali enhanced its digital services with:

• Self-onboarding feature on BK Mobile App
• BK Quick+ digital loans up to RWF 50 million
• 15-hour automated loan disbursement

Corporate Social Responsibility Impact

Through the BK Foundation (1% of pre-tax profits), the bank supported:

• 464 STEM and TVET scholarships
• 2,202 financial literacy trainees
• 100,000 children through school nutrition programs
• 25 women-led businesses via BK Urumuri Initiative
• 141 households with renewable energy solutions

Leadership Perspectives

“Our success is measured not just in numbers but in the lives we impact. By supporting SMEs, agribusiness, and corporate investments, we are enabling economic resilience and financial empowerment.”

Dr. Diane Karusisi, CEO of Bank of Kigali

“BK Group continues to deliver strong results in all subsidiaries, thanks to our diversified portfolio, a strong economic environment, and an excellent management team.”

Dr. Uzziel Ndagijimana, CEO of BK Group Plc

Looking Ahead to 2025

The bank launches Bigereho na BK, a customer-centric campaign offering tailored financial solutions for SMEs, salaried employees, agribusiness players, and aspiring homeowners.