Nairobi, May 30 -- Bank of Kigali (BK Group) net profit for the first quarter ended March 2023 rose by a 14.5 percent to Rwf17.88 billion ($16 million), driven by increased interest and transaction income.

The bank, which is listed on both the Nairobi and Rwanda stock markets, reported the rise in earnings from Rwf15.6 billion ($13.95 million) on the back of a 1.4 percent growth in the loan book to Rwf1.12 trillion ($1 billion).

"BK Group demonstrated a great performance in Q1 2023, showcasing the resilient rebound of the economy, while also achieving notable advancements in asset quality and profitability," said Beata Habyarimana, chief executive at BK Group.

The lender' net interest income increased to Rwf36.17 billion ($32.35 millio...