Home Business & TechCompanies Bank of Kigali Wins “Best Bank” Award for the Third Consecutive Year

Bank of Kigali Wins “Best Bank” Award for the Third Consecutive Year

by Daniel Sabiiti
11:19 am

Bank of Kigali Headquarters

The Bank of Kigali has once again been recognized as the Best Bank in Rwanda, winning the prestigious Global Finance Award of the “Best Bank 2023” for the third consecutive year.

The Global Finance Award is a highly respected accolade in the banking industry, and winning it for three years in a row underscores BK’s commitment to excellence, the bank said in a statement.

The bank said that winning the Global Finance Award for the third consecutive time confirms Bank of Kigali’s position as the best bank in Rwanda and reflects its unwavering commitment to providing its customers with the best possible banking experience.

The BK Plc Chief Executive Officer (CEO) Dr. Diane Karusis said:

“We are honored to receive the Global Finance Award for the third consecutive time, and we are grateful to our customers, staff, and stakeholders for their continued support,”

Karusisi stated that this recognition is a testament to the bank’s unwavering commitment to excellence and determination to provide its customers with the best possible banking experience despite challenges in the global economy.

Bank of Kigali experienced several significant developments over the past year that played a critical role in securing the award for the third consecutive year.

These developments included the release of the new BK Mobile App, the acquisition of the BK Arena naming rights, the establishment of both the Mortgage Center and the SME Center, as well as the introduction of the IKAZE Feedback platform.

“We remain focused on our mission to drive financial inclusion and contribute to the growth and development of Rwanda’s economy, and we will continue to innovate and adapt to meet the evolving needs of our customers,” Karusis said.

BK’s innovative products, exceptional customer service, and strong financial performance have set it apart as the leading bank in Rwanda.

The bank’s dedication to providing top-notch financial services to its customers and contributing to the growth and development of the banking industry in Rwanda and beyond has earned it this well-deserved recognition.

This has seen the Bank of Kigali post a net income of Rwf 59.7 billion in the financial year 2022 with a double digit increase across its financial books retaining a high compound annual growth rate in the banking sector.

BK Group Plc also recorded a double digit increase of 15.1% growth year-on-year (y-oy) with Return on average assets and equity reaching 3.5% and 19.8% respectively for the period ended December 31st, 2022.

Similar double digit increase was recorded in total assets increased by 16.6%, net loans and advances increased by 14.6%, client balances & deposits increased by 10.3%; and shareholders’ equity increased by 11.8%.

This growth has witnessed the BK Group Board of Directors recommend a final and full dividend of Rwf32.5 for each ordinary share, on the issued and paid-up share capital of the company.

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