In its 2023 financial report, BPR Bank Rwanda revealed a noteworthy Rwf25.8 billion profit after taxes.
In addition to the growth in profits, the bank’s overall revenue increased significantly, rising by 13% to Rwf81.1 billion, while its customer deposits increased by 33.4% to Rwf589 billion. Additionally, the bank’s total assets increased significantly by 15.2 percent to Rwf860 billion.
Chief executive Patience Mutesi of BPR Bank expressed pleasure with the bank’s success and promised to maintain the strategic focus of the organization on innovation and customer-centric solutions across all industries.
“We are in line with Rwanda’s goals to achieve a customer-centric or people-centric and private-sector-led growth, as the country’s largest bank,” the statement read.
The notable 25% expansion in the bank’s loan portfolio, which is fueled by commerce, personal loans, manufacturing, agriculture, and construction, is credited by her for the 15.2% increase in total assets.
With a strong credit management plan in place, the bank ended 2023 with a non-performing loan ratio of 3.4%, which was below average. She stated, “I think the credit teams’ and the business teams’ efforts in spearheading recovery efforts and ensuring that we maintain a strong quality of the loan book really drove this.”
Mutesi credited the 33.4% increase in client deposits to Rwf589 billion to the confidence and support that customers had shown after KCB and BPR merged in 2022.
With more than 150 branches around the nation, BPR Bank Rwanda now boasts the second-largest asset base in the nation following the merger.
Mutesi spoke on BPR’s dedication to financial inclusion and economic development, highlighting the bank’s emphasis on agriculture and credit availability, especially for SMEs.
The chairman of BPR’s board, George Rubagumya, emphasized the lender’s standing as the “people’s bank” and highlighted the 590,000 registered shareholders that make up its broad shareholder base.
“Even after our merger with KCB, the new investor thought it was important to maintain our brand—the people’s bank,” he stated. We are a people’s bank, among other things, since 590,000 of our shareholders are registered owners. They own up to 13% of this institution collectively. That amounts to over 15 billion of the 146 billion you saw as equity in this bank.
