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BK Group management reports profit of €47.8 million in the first six months of 2024
These are the figures published on August 30, 2024, in which the company of the BK Group showed that its profit increased to Frw 47.8 billion, which means an increase of 29.5% compared to the previous year.
In the report, BK Group said total assets rose 10.1% to $2,333.2 billion in the six months to June 30, 2024, while shareholders’ equity rose 13% to $414.2 billion.
In addition, BK Group’s profits also reached this level, with customer savings increasing by 6% to 1,463.7 billion euros.
In providing ordinary loans and wage loans, it earned a profit of CHF 1 billion 410 million, equivalent to 14%, while in other investment activities it earned a profit of more than CHF 414 billion, equivalent to 13%.
BK Group Plc Chief Executive Officer, Dr. Uzziel Ndagijimana, said the company’s good performance was the reason for their achievement.
BK Group CEO Dr. Uziel Ndagijimana said the profit was achieved due to good management of the company and the good condition of the Rwandan economy.
Rwanda is a country with a stable economy. Due to the impact of the Covid-19 epidemic, all pillars of Rwanda seem to be growing. Statistics show that Rwanda’s economy has grown by 9.7% and plans to reach at least 10% growth in 2027. The Rwandan currency must remain stable and not depreciate.
Dr. Diane Karusisi, CEO of Kigali Bank BK, one of the most profitable companies in the BK Group, said they are proud of the profits they have made in the past six months by providing loans to investment companies and all BK customers.
Dr. Diane Kalusisi, CEO of Bank of Kigali, said the Bank of Kigali played an important role in the company’s growth.
He said: “We have delivered very well on our commitments for the year and one of the factors that has kept us in good standing is the company’s payments and revenues, which have grown by at least 8% on an annual average”.
Based on the profits gained and the reduction of losses, Dr. Carussi said that the BK Group branch of which he is CEO achieved a profit after tax of 46 billion euros, equivalent to a 22.8% increase.
Although loan repayment is one of the most important tasks of the Kigali Bank, Dr. Kalusisi said they are confident of continued returns and continue to provide good services with an average growth rate of 29.7% compared to the usual annual growth rate of 25%.
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