Key Figures

2016 Key figures (Amounts in FRW "000")

 

Activity

  2015 2016

Yearly Growth  

Deposits   7 584 9 438 24.4%
Loans 5 636 8 242 46.2%
Number of branches at the end of the financial year 11 12 9.1%

 

Structure

  2015 2016

Yearly Growth 

Total Assets    15 318 16 646 8.7%
Shareholders’ equity    7 335 6 773 - 7.7%
Average number of employees 101 131 29.7%

Capital Adequacy Ratio

  2015 2016

Yearly Growth 

Tier 1   7 322 6 540  
Tier 2   - -  
Risk Weighted Asset (RWA 6 738 11 236  
Tier 1 + Tier 2 / RWA (%) 109% 58.2%  

Income

  2015 2016

Yearly Growth 

Net operating income  1 306 1 711 31.1%
Operating expenses   1 178 2 107 78.8%
Gross operating profit      127 - 395 -410.5%
Cost of risk (in value) (**)     23 154 557.5%
Net income 47 -561 -127.5%
Operating ratio (%) 90.2% 123.1%  
Cost of risk (%) -0.4% -2.2%  
Return on Assets (ROA %) 0.4% -3.5%  
Return on Equity (ROE %) 1.1% -8%%  

(*) Including general provision

 

Annual Report

BOA-RWANDA 2016 FINANCIAL STATEMENTS

In 2016 BANK OF AFRICA – RWANDA (BOA–RWANDA) published its first year accounts as a full commercial bank. Until end of 2015, it was a micro finance institution. Significant investment was required to bring about this transition, in particular in terms of head office and branch relocation and new branding.

Net income, not a significant indicator given the exceptional context of this financial year, was down 1,271.5%.

Given this same context, operating expenses understandably increased by 78.8%, in particular due to the recruitment of new staff, mainly to fill key positions. With investment in a new core banking system and

new IT infrastructure, depreciation and amortization costs also contributed to that increase.