Bank of Kigali says Pretax profit has increased over 22pct in 2016

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Rwanda’s Bank of Kigali said on Friday its pretax profit for the first nine months of this year increased 22.9 percent to 24.9 billion francs ($30 million), from the year-ago period, buoyed by higher net interest income.

Net interest income rose 26.5 percent to 42.9 billion francs while non-interest income rose 21.6 percent to 16.0 billion francs, the bank said in a statement.

The lender, which is the biggest in the country by assets, said its operating costs were well contained, with a cost-to- income ratio of 44.3 percent.

($1 = 827.3400 Rwandan francs)

Source: Reuters