March 23, 2018 / 3:03 PM / 4 months ago

Bank of Kigali's 2017 profit jumps 14 pct due to increased lending

KIGALI, March 23 (Reuters) - Bank of Kigali’s pretax profit rose 14 percent last year to 34.2 billion francs ($39.54 million) as Rwanda’s biggest lender by assets increased its lending, it said on Friday.

Founded 51 years ago, the bank operates 79 outlets and an insurance business. Its shares were listed on the Rwandan stock exchange in 2011.

“We grew our loan book by 22.3 percent,” the bank’s head of finance Samuel Nshimiyimana told Reuters after a news conference.

Net interest income climbed to 63.9 billion francs in the year through December from 55.7 billion a year before.

The lender said it approved a dividend payout of 9.3 billion francs, equivalent to 13.87 francs per share.

It said last year it planned to raise $80 million and $100 million by issuing new shares to existing shareholders ($1 = 864.9100 Rwandan francs) (Reporting by Clement Uwingiriyimana Writing by Duncan Miriri, editing by David Evans)

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