BPR Bank Rwanda has released its financial report for 2023, showing a notable profit after tax of Rwf25.8 billion.

Alongside the rise in profits, the bank experienced a significant increase in its total revenue, marking a 13 per cent rise to Rwf81.1 billion, while customer deposits also surged by 33.4 per cent to Rwf589 billion. The bank’s total assets also saw a substantial growth of 15.2 per cent, reaching Rwf860 billion.

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BPR Bank chief executive Patience Mutesi expressed satisfaction with the bank’s performance as she pledged to carry on with the institution’s strategic focus on innovation and customer-centric solutions across diverse sectors.

"As a bank with the largest network in Rwanda, we are aligned with the country’s ambitions to deliver a customer-centric or people-centric and private-sector-led growth,” she said.

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She attributed the 15.2 per cent increase in total assets to a remarkable 25 per cent growth in the bank’s loan portfolio which is driven by trade, personal loans, manufacturing, agriculture, and construction.

"The bank successfully implemented a robust credit management strategy, registering a below-average non-performing loan ratio of 3.4 per cent at the end of 2023. I believe this was really driven by the effort of the credit teams and the business teams in driving recovery efforts and making sure that we maintain a strong quality of the loan book,” she said.

Regarding the rise in customer deposits by 33.4 per cent to Rwf589 billion, Mutesi attributed it to the trust and support gained from customers following the KCB and BPR merger in 2022.

The merger positioned BPR Bank Rwanda as the second-largest bank in the country in terms of assets, in addition to a vast network of over 150 branches nationwide.

Reflecting on BPR’s commitment to economic development and financial inclusion, Mutesi highlighted the bank’s focus on access to credit, particularly for SMEs, and agriculture.

George Rubagumya, the chairman of BPR’s board, emphasised the lender's status as the "people's bank”, highlighting its widespread shareholder base of 590,000 registered shareholders.

He said: "Even when we merged with KCB, the new investor saw it key to keep our name – the people’s bank. Among the reasons, we are a people’s bank because we have 590,000 registered shareholders. Collectively, they own up to 13 per cent of this institution. In numbers, that is close to 15 billion of the 146 billion you saw as equity in this bank.”