Key Figures

2018 Key figures (Amounts in RWF million)

 

Activity

  2017 2018

Yearly Growth  

Deposits   18,106 19,325 7%
Loans 12,744 15,477 21%
Number of branches at the end of the financial year 14 14 0%

 

Structure

  2017 2018

Yearly Growth 

Total Assets   26,354 35,607 35%
Shareholders’ equity 4,471 9,277 107%
Average number of employees 160 169 6%

Capital Adequacy Ratio

  2017 2018
Tier 1   3,904 8,801
Tier 2 - 206
Risk Weighted Asset (RWA 15,302 21,924
Tier 1 + Tier 2 / RWA (%) 25.5% 41.1%

Income

  2017 2018

Yearly Growth 

Net operating income 2,065 2,942 42%
Operating expenses 4,153 3,799 -9%
Gross operating profit - 2,088 -858 59%
Cost of risk (in value) (*) -215 -231 8%
Net income -2,302 -1,088 -53%
Operating ratio (%) 201.1% 129.2%  
Cost of risk (%) -2.1% -1.6%  
Return on Assets (ROA %) -10.7% -3.5%  
Return on Equity (ROE %) -41.0% -15.8%  

(*) 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.