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


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