BK named Best Bank in Rwanda in Euromoney Awards for Excellence 2022

On 21 juillet 2022 at 03:34

Bank of Kigali has emerged the Best Bank in Rwanda in the Euromoney Awards for Excellence 2022.

Launched in 1992, Euromoney Awards for Excellence are one of the most prestigious and respected awards in global banking, rewarding financial institutions for their achievements, innovations and performance over the last 12 months.

A team of experts analyses profitability, the ability to demonstrate growth, relative outperformance compared with peers and the ability to adapt to changing market conditions.

The recognition reflects BK’s commitment to keep providing world class services to clients.

The lender, which boasts 424,000 retail customers and 36,700 corporate clients, posted a 35% year-on-year increase in net profit to Rw5.8 billion (US$5.7 million) in 2021, driven by a 20.8% rise in interest income and double-digit growth across all key performance metrics.

The bank also recorded a 41.4% growth in non-interest income to Rw4.2 billion, as trade and economic growth picked up.

Among others ; pre-tax profit jumped 44.4% year on year in the first quarter of 2022, with assets up 22.4% and deposits rising 21.7%. Total assets stood at Rwf1.7 trillion at the end of last year, up 22.3% from the same period a year earlier.

Bank of Kigali also got busy on the digital front during the awards period where it launched a revamped and upgraded online platform – including enhanced security features – that caters to diaspora clients.

The lender provides a more seamless customer experience and the ability to buy foreign currency and process bulk payments.

Commenting on the development ; the CEO of Bank of Kigali, Dr. Diane Karusisi said : “We are constantly working towards providing top notch financial services to our customers and winning this award shows that our efforts do not go unnoticed. We will continue to innovate and bring forth fast, easy and efficient channels of transacting. Soon we shall be launching one of a kind new BK mobile app for our customers.”

Bank of Kigali also migrated to a new core banking system, with the Temenos 24 platform helping the bank break free from legacy constraints and accelerate its digital transformation. It’s all part of an ambitious plan to double its roster of retail and small and medium-sized enterprise clients to more than one million by the end of 2022.

Bank of Kigali also won similar award in 2013, 2015 and 2021.

This year, Euromoney received a record number of submissions from banks in regional and country awards programme that covers more than 50 regional awards and best bank awards in 100 countries.

BK has been named the Best Bank in Rwanda in Euromoney Awards for Excellence 2022.