Key Figures

2017 Key figures (Amounts in RWF million)

 

Activity

  2016 2017

Yearly Growth  

Deposits   9,438 18,106 92 %
Loans 8,243 12,744 55 %
Number of branches at the end of the financial year 12 14 17 %

 

Structure

  2016 2017

Yearly Growth 

Total Assets    16,646 26,364 58 %
Shareholders’ equity   6,774 4,471 -34 %
Average number of employees 131 158 22 %

Capital Adequacy Ratio

  2016 2017

Yearly Growth 

Tier 1   6,541 3,904  
Tier 2   - -  
Risk Weighted Asset (RWA 11,236 15,302  
Tier 1 + Tier 2 / RWA (%) 58.2% 25.5%  

Income

  2016 2017

Yearly Growth 

Net operating income  1,603 2,041 21%
Operating expenses   2,031 4,153 96%
Gross operating profit     -428 - 2,122 413%
Cost of risk (in value) (**)     -155 -215 39%
Net income -561 -2,302 310%
Operating ratio (%) 126.7% 203.5%  
Cost of risk (%) -2.2% -2.1%  
Return on Assets (ROA %) -3.5% -10.7%  
Return on Equity (ROE %) -8.0% -41.0%  

(*) Including general provision

 

Annual Report

BOA RWANDA 2017 FINANCIAL STATEMENTS

For BANK OF AFRICA – RWANDA (BOARWANDA) 2017 was marked by an investment process begun in 2017 and a decrease in net income of 510%, due to overly high fixed costs.

The network did nevertheless expand, with the opening of two new branches. Its structure has been strengthened, with the total balance sheet up 58% thanks to an increase in customer loans and fixed assets of  55% and 48% respectively. Deposits grew 118%.

Headcount increased, leading to an increase in operating expenses of 104%. Depreciation and amortisation expenses were up by 185% year-onyear, mainly as a result of increased investments.

Loans were up 55% to the previous year, resulting in a provisioning rate of 39%. The cost of risk was down slightly, by 0.1% (from 2.2% to -2.1%).

BANK OF AFRICA – RWANDA’s objective is still to give stability to the network, while continuing to attract deposits and loans, control operating expenses and increase net operating income to improve profitability.