Banque Populaire du Rwanda (BPR) emerged from a Rwf3.1 billion loss incurred during the first nine months of last year to a Rwf556.7 million profit in the same period this year, a financial statement from the lender indicates.

The bank’s share capital increased from Rwf15.3 billion last year to Rwf16.5 billion at the end of September this year, while its total assets went up from Rwf157.4 billion to Rwf163 billion during the period. Total liabilities also rose to Rwf147.4 billion from Rwf143.7 billion.

Its loans and advances to customers expanded to Rwf100.4 billion during the period, an increase from Rwf92.8 billion last year, while customer deposits stood at Rwf125 billion at the end of September this year compared to Rwf126 billion recorded at the end of last year.

The bank’s total operating income was up by 13.7 per cent during the first nine months of this year, from Rwf13 billion in September last year to Rwf14.8 billion this year.

Its operating expenses went down as well to Rwf14.2 billion this year, from Rwf16.1 billion last year, thanks to significant reductions in staff costs.