May 22, 2024

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BK Group shareholders to get KES3.5bn dividend payout as 2022 net profit hits KES6.9bn

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BK Group Plc shareholders are set for a KES3.73 per share dividend earnings for the full year ended December 2022, representing a 50 percent payout of the Group’s after-tax income.

 

The Rwanda Stock Exchange and Nairobi Securities Exchange-listed lender recorded a 15.1 percent increase in net profit to KES6.9 billion on the back of a 16.6 percent growth in the loan book to KES213.5 billion.

 

“We take great pride in our investment towards our digital transformation journey. Our subsidiaries reported strong performances in 2022, which reinforces our position as a leading financial services provider. We remain committed to delivering higher value for our shareholders and investors and are confident that we will continue to achieve even better results in the year 2023.” Said BK Group CEO Béata U. Habyarimana.

 

BK Group’s total interest income increased to KES15.9 billion while the net loan book grew by 14.6 percent to KES125 billion year-on-year basis.

 

Non-interest income rose 22.8 percent to KES5.3 billion, helping to boost the Group total operating income by 5.8 percent to KES21.2 billion.

 

BK Group chairman Marc Holtzman noted the asset quality improved significantly with non-performing loans (NPLs) ratio dropping to 2.6 percent compared to 5.3 percent in 2021.

 

“The company’s success can be attributed to Rwanda’s post Covid recovery and the Group’s focus on improving asset quality and profitability. We are pleased to see double-digit growth across all key performance metrics,” Said Mr Holtzman.

 

The Bank of Kigali Plc chief executive Diane Karusisi noted that client balances & deposits increased by 10.3 percent year-on-year to KES123.8 billion as at December 31st, 2022; underlining the lender’s strong growth trajectory backed by both corporate and retail client pipelines.

 

The agency banking network expanded to 3,735 agents and processed over 6.9M transactions worth KES149.4 billion.

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