Demand for Bank of Kigali shares soars

Therehas been growing appetite for Bank of Kigali shares over the past weeks following the release of the bank’s financial statement indicating a Rwf14.1 billion net profit for the year ending September 30, dealers said yesterday. Two weeks ago, the lender announced an increase in net profit from Rwf10.8 billion registered over the same period last year. Olivier Muneza, a broker with MBEA Brokerage Services, said more investors were interested in the bank’s shares presently. A market from the bourse indicates that Bank of Kigali traded 151,000 shares in one deal, earning a total turnover of Rwf42.4 million yesterday. However, the bank’s share price declined by Rwf9 to close at Rwf281 yesterday, down from Rwf290 last Monday. The Bralirwa counter, on the other hand, traded 3,000 shares in two deals worth Rwf1.1 million. Its share price also went down during the week, from Rwf380 last week on Monday to Rwf358 yesterday. The Rwanda Stock Exchange Share Index shed by 11.46 points during the week, to close at 222.63 points yesterday from 234.09 points the previous Monday.

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Demand for Bank of Kigali shares soars