Key Figures

2019 Key figures (Amounts in RWF million)

 

Activity

  2018 2019

Yearly Growth  

Deposits     22,619  32,016  41.5%
Loans 15,477   19,238  24.3%
Number of branches at the end of the financial year 14 14 0%

 

Structure

  2018 2019

Yearly Growth 

Total Assets    35,607  54,957  54.3%
Shareholders’ equity  9,277   8,100   -12.7%
Average number of employees  169  175 3.6%

Capital Adequacy Ratio

  2018 2019
Tier 1   8,801 7,392 
Tier 2 206 358
Risk Weighted Asset (RWA 21,924  28,660 
Tier 1 + Tier 2 / RWA (%) 41.1% 27.0%

Income

  2018 2019

Yearly Growth 

Net operating income 2,942  4,076  38.6%
Operating expenses 3,799  -3,993   5.1%
Net Operating profit -858  83 109.7%
Cost of risk (in value) (*)  -231  -1 032  347.3%
Net income  -1,088 -949   -12,8%
Operating ratio (%) 129.1% -98.0%  
Cost of risk (%) -1.6% -5.9%  
Return on Assets (ROA %) -3.5% -2.1%  
Return on Equity (ROE %) -15.8% -10.9%  

(*) Including general provision

 

Annual Report

2019 FINANCIAL STATEMENTS BOA-RWANDA

In 2019, BANK OF AFRICA - RWANDA (BOA-RWANDA) registered a significant growth in its assets which show an increase of 54%. The year was characterized by intensive investments in interest bearing assets to the detriment of non-productive assets.

Loans to clients went up by 24% from 2018 whereas investment in financials instruments grew by 163%. All this was made possible by clients’ deposits which increased up to 42%.

With the aim to benefit from placements with other commercial banks, BOA-RWANDA recoursed to short term borrowings at a lower interest rate compared to gain realized. 

2019 financials show good performances in terms of revenue where net interest income as well as net fee and commission income went up by 37% and 62% respectively.

However, the profitability was hampered by the cost of risk which suddenly increased consecutive to loan granted to corporate customers.

BANK OF AFRICA - RWANDA keeps its objective of increasing the market share with regards to loan lending and deposit collection.