BCR sees growth in lending

Rwanda Commercial Bank (BCR) targets Rwf3b earnings this year, up from Rwf2.8b last year boosted by a recovery in economic activity. The Bank says it will disburse Rwf20b in form of new loans this year compared to Rwf6b last year. “The reason for our growth is the country’s economy that has picked up and the availability of enough liquidity that we did not have last year,” said Sanjiv Annand, the Managing Director of BCR said last week. Annand also attributed the performance of the bank to their diversity in the market, adding that as more banks focus on mortgage lending, BCR is participating in all segments of the market. He expects to massively reduce the non performing loans to 7 percent from 18 percent last year. “In the first quarter of this year, preliminary results show that we made Rwf0.6b which is ahead of plan but final results will shortly be released after completion of the quarterly audit,” added Annand. Ends

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BCR sees growth in lending