Bank of Kigali Sees a Rise in Profits

Rwanda’s Bank of Kigali reported a 26 percent rise in full-year net profit, largely driven by expansion of its loan book and net interest income.

Net profit rose to 14.8 billion Rwandan francs ($22 million) for 2013, with net interest income rising 55 percent to 33.3 billion francs, while other fees and commissions also rose, the bank said in a statement on Wednesday.

The lender formally launched an agency banking service during the year, allowing customers to open accounts through agents across Rwanda.

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