The Development Bank of Rwanda reported a sharp increase in profitability for the year ending December 31, 2024, as the lender expanded its lending portfolio to support economic growth, infrastructure projects and Green financing among others.
The lender’s financial results reflect its pivotal role in financing strategic sectors, including agriculture, renewable energy, and affordable housing. Net interest income surged by 49.86 percent to Rwf30.68 billion, fueled by a combination of higher loan disbursements and improved yields on existing assets.
The bank’s strategic push into productive sectors aligned with Rwanda’s Vision 2050 objectives appears to be yielding returns, as increased investments in agribusiness and energy infrastructure contributed to a broader revenue base. BRD’s total loan book grew significantly, supported by increased disbursements to priority sectors.
The bank’s capital adequacy ratio remained strong, signaling a robust financial position that allows it to sustain growth while managing risks effectively. Meanwhile, liquidity ratios indicate sufficient buffers to meet obligations and support further lending activities.
Analysts note that BRD’s expansion strategy aligns with Rwanda’s broader economic objectives, particularly in fostering entrepreneurship and industrialization. The bank’s capacity to mobilize concessional funding from international development partners has also reinforced its ability to offer competitive financing to key sectors.
Beyond interest income, BRD recorded a 51.1 percent increase in fees and commissions, reflecting a diversification of revenue streams. The bank’s efficiency measures, including enhanced risk management frameworks, contributed to controlled operating expenses, supporting overall profitability growth.
The bank’s shareholder equity saw a boost as it continued to attract additional capital injections. This reflects confidence from the government and development finance institutions in BRD’s ability to deliver on its mandate.
Looking ahead, the lender is expected to deepen its involvement in climate finance, SME support, and digital financial inclusion initiatives. BRD’s 2024 performance underscores its evolution from a traditional lender into a key driver of Rwanda’s development ambitions, positioning itself as a critical enabler of sustainable economic transformation.
The bank’s total assets stood at Rwf782.9 billion, with total equity reaching Rwf133.24 billion, reflecting strong financial fundamentals. Profit before tax increased to Rwf10.5 billion last year, from Rwf7.7 billion from the year earlier, while comprehensive income for the year grew significantly, further solidifying BRD’s financial health. The bank’s leadership reaffirmed its commitment to prudent financial management and strategic investments to sustain long-term growth.
