BPR Bank Rwanda Plc posted a 14.7 percent increase in net profit to Rwf29.7 billion in 2024, driven by a surge in net interest income, expanded SME lending, and continued investment in digital banking. The strong performance builds on the lender’s sustained growth momentum, reinforcing its position in Rwanda’s financial sector.
Net interest income surged 23 percent to Rwf80.3 billion, underpinned by an expanding SME lending portfolio and increased investment in earning assets. Customer deposits rose 13 percent to Rwf757.1 billion, while net loans and advances climbed 8 percent to Rwf620.6 billion, underscoring the bank’s pivotal role in financing Rwanda’s economic development.
“Our financial results reaffirm our strong market position,” Managing Director of BPR Bank Rwanda, Patience Mutesi said.
“Profit after tax of Rwf29.7 billion represents robust growth across our business segments. This year, we have enhanced our digital banking platforms, strengthened our lending to SMEs, and expanded our sustainability agenda through green finance initiatives. We are excited about the future and remain dedicated to providing value to our customers, shareholders, and the communities we serve,” She added.
According to Mutesi, they remain very optimistic that the grow they anticipate in 2025 will be much bigger than what the lender posted in 2024, innovation in introducing new products that will ease the services to customers, focus on agriculture, SME and Ecosystem financing.
During the period, the lender also secured a $40 million (Rwf53.8 billion current price) financing package from the International Finance Corporation (IFC) to bolster SME lending and support Rwanda’s economic diversification. Additionally, it implemented an ESG and Climate Change Management Strategy in partnership with the European Investment Bank (EIB), reinforcing its commitment to sustainable finance.
BPR Bank Rwanda’s total assets grew to Rwf971.8 billion, reflecting financial stability and growth momentum. Digital transformation remained a key focus, with the successful rollout of a Unified Omni-channel banking platform integrating mobile, internet, and USSD banking for seamless customer transactions.
From a shareholder perspective, the bank’s strong performance has enabled the Board to propose a dividend payout of 13.7 percent of profit after tax for approval at the upcoming Shareholders Annual General Meeting.
“We have always believed in delivering consistent returns to our shareholders while retaining sufficient capital for future investments,” Chairman of the Board, George Rubagumya said.
Marking its 50th anniversary in 2024, BPR Bank Rwanda continues to celebrate five decades of banking excellence. The milestone year includes multiple stakeholder engagements culminating in a grand gala on August 4, 2024.
With a strong financial foundation, accelerating digital innovations, and a deepening ESG commitment, BPR Bank Rwanda is well-positioned for sustained growth in Rwanda’s evolving financial landscape.
