Bank of Kigali raises dividends as profit hits $54m
Nairobi, March 31 -- Bank of Kigali (BK Group) net profit for the year ended December 2022 rose by a 15.1 percent to Rwf59.7 billion ($53.8 million), prompting the board to increase dividend payout.
The bank, which is listed on both the Nairobi and Rwanda stock markets, reported the rise in earnings from Rwf51.9 billion ($46.8 million) on the back of a 14.5 percent growth in the loan book to Rwf1.1 trillion ($992 million).
The lender has recommended a dividend of Rwf32.5 ($0.029), amounting to about Rwf29.8 billion ($26.8 million) or half of the group's after-tax profit.
The latest dividend is a rise from Rwf28.7 ($0.026) that was paid for each ordinary share in the previous financial year.
BK Group CEO Beata Habyarimana said the lend...
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