Reflecting on 2024: Bank of Kigali’s Contribution to Business and Community Growth

Kigali, Rwanda – March 28th, 2025 – Bank of Kigali has reported strong financial results for the year ending December 31, 2024. The Bank’s sustained growth reflects its unwavering commitment to empowering businesses, individuals, and key economic sectors while advancing Rwanda’s transformation agenda. A critical driver of this progress has been Bank of Kigali’s strategic investments in key sectors, ensuring that every loan disbursed translates into tangible economic impact. By December 2024, the Bank’s total loan portfolio reached FRW 1,522 billion, providing essential financing to businesses and individuals, fueling job creation, and strengthening industries. SMEs: Small and medium-sized enterprises (SMEs), which form the backbone of Rwanda’s economy, received significant financial support, with the SME loan portfolio reaching FRW 207 billion. These loans have enabled businesses to purchase stock, cover import costs, and manage cash flow—ensuring resilience, sustainability, and expansion. Retail Lending: The Bank’s retail loan portfolio surged by 36.1% to FRW 276 billion, supporting personal financial needs such as housing, education, and salary advances. By making financing more accessible, Bank of Kigali continues to uplift individuals and families, fostering economic security. Agribusiness: With agriculture remaining a cornerstone of Rwanda’s economy, Bank of Kigali’s agribusiness loan portfolio grew to FRW 62 billion, supporting farmers, coffee processors, and cooperatives. This financing has facilitated access to modern farming techniques, improved food processing, and promoted value addition across agricultural supply chains. Corporate and Institutional Banking: The corporate lending portfolio saw a 10.3% growth, reaching FRW 974 billion, with financing directed toward critical sectors such as infrastructure, transportation, tourism, commerce, health, and education. Additionally, the Bank introduced a new Institutional Banking segment, targeting NGOs and faith-based organizations to enhance deposit mobilization and FX income. The deposit portfolio currently stands at FRW 156 billion. Bank of Kigali continues to also enhance its digital banking services ensuring access to Banking Services. 2024 witnessed the introduction of BK Quick+, a digital loan offering up to RWF 50 million, accessible via the BK Mobile App and Internet Banking. With an automated approval process and a 15 Hours disbursement, BK Quick+ provides quick financial relief for personal growth, reinforcing the Bank’s commitment to financial inclusion and convenience. Beyond financial growth, Bank of Kigali continues to drive positive social change through CSR initiatives. As part of its long-standing commitment, the Bank dedicates a percentage of its profit before tax to CSR projects under the BK Foundation, supporting education, environmental conservation, and innovation. In 2024 alone: 464 students received STEM and TVET scholarships. 2,202 individuals gained financial literacy skills. Construction began on the Gateko and Mwogo Early Childhood Development (ECD) Centers, set to benefit 166 children. 100,000 children benefited from the Dusangire school nutrition and feeding program, ensuring better learning conditions. 2,202 individuals received training in Financial Literacy and Entrepreneurship. 25 women-led businesses received support through the BK Urumuri Initiative, helping turn entrepreneurial ideas into thriving ventures. 141 Households were supported with clean and Renewable Energy Solutions. The Bank’s performance contributed to BK Group Plc’s overall success, as reflected in its 2024 consolidated Audited financial results which recorded an after-tax profit of Rwf91 billion, a 21.7% increase from the previous year. Dr. Uzziel Ndagijimana, CEO of BK Group Plc, highlighted the Group’s resilience and growth trajectory: “BK Group continues to deliver strong results in all subsidiaries, thanks to our diversified portfolio, a strong economic environment, and an excellent management team. Our sustained profitability allows us to reinvest in Rwanda’s future, expanding access to finance and fostering long-term economic sustainability.” Bank of Kigali recorded a net income of RWF 89.7 billion in 2024, marking a 21.8% increase from the previous year. This growth is a testament to the Bank’s customer-centric approach, digital innovation, and strategic investments. Speaking on the Bank’s performance, Dr. Diane Karusisi, CEO of Bank of Kigali, emphasized the Bank’s mission to bridge financial gaps and create lasting impact. “Our success is measured not just in numbers but in the lives we touch. By supporting SMEs, agribusiness, and corporate investments, we are enabling economic resilience and financial empowerment. The strong growth underscores the trust our clients place in us and our ability to deliver value.” As Bank of Kigali continues its journey of empowering individuals and businesses, 2025 marks the launch of Bigereho na BK, a campaign aimed at helping Rwandans achieve their financial goals. Through a diverse range of tailored financial solutions for different customer segments—whether SMEs, salaried employees, agribusiness players, or aspiring homeowners—the Bank seeks to provide the right tools and r

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Reflecting on 2024: Bank of Kigali’s Contribution to Business and Community Growth