The BK counter on the Rwanda Stock Exchange has opened the week’s trading, upbeat, with Board Chairman Marc Holtzman completing a purchase of 706,000 shares of the Bank’s stock for his four minor age children.

 

The shares acquired at the prevailing market price of Rwf240 are in addition to the 1,180,000 which Mr. Holtzman acquired for himself during Bank of Kigali’s IPO, in September 2011.

 

"This is my expression of confidence in the Bank’s recent strong performance, growth prospects and leadership,” said Mr. Holtzman who added that he hopes his move will encourage more Rwandan parents to consider investing in the stock market to secure their children’s future.

 

Last week, Bank of Kigali announced a 22.9 per cent increase in its pre-tax profit for the first nine months of 2016 to $30 million; the growth was attributed to an increase in net interest income which went up by 26.5 per cent to $52.9 million.