Bank of Kigali has announced to have boosted its profit by 1.3% in 2016, making Rwf 20.8 billion after paying Rwf 9.2 billion taxes.
During the presentation of generated income yesterday, the CEO of BK, Dr Diane Karusisi explained that profit had reached Rwf 30 billion before paying taxes. This saw BK gaining the increase of 16.5%to overall profit compared to 2015 where it had Rwf 25.7 billion.
BK paid Rwf 5.3 billion taxes in 2015 which rose to Rwf 9.2 billion in 2016.
BK also plans to offer loans via mobile phones.
Dr Karusisi has explained that BK would open at least 10 branches annually which reduced to four last year as it allocates strength in embracing technology.
“We plan to launch Mobile Banking in coming days where our clients will request loan using phone and get the feedback in not more than five minutes and have the money deposited on the client’s account or mobile money,” she said.
By 31st December 2016, BK had served 236, 545 retail and 25, 477corporate clients.
At the time BK had availed 91 ATM machines and 1002 Point of Sale System (POS)at 79 branches countrywide.
BK plans to hold a general assembly on 5th May 2017 to decide whether 40% of 2016 profit equaling Rwf 8.3 billion will be distributed among shareholders.
Each share will receive Rwf 12.3 while remaining fund will be allocated to the bank’s development projects.