BK GROUP (BKG) Q4 2024 earnings summary

Executive summary

• Achieved net income of RWF 91.0 billion (US$65.8 million), up 21.7% year-over-year, with ROAA at 3.9% and ROAE at 22.6% for FY 2024.

• Total assets grew 19.2% to RWF 2,521.6 billion, net loans and advances rose 16.8%, and client deposits increased 19.5% year-to-date.

• Maintained a strong capital base with a total capital to risk-weighted assets ratio of 20.94%.

• CEO highlighted strong earnings growth, healthy capital, and expanded customer reach, reflecting resilience and strategic progress.

Financial highlights

• Total operating income rose 15.3% year-over-year to RWF 258.7 billion, driven by a 15.8% increase in interest income and 15.3% growth in non-interest income.

• Operating expenses increased by only 2.6%, improving the cost-to-income ratio to 38.1% from 42.8%.

• Net loan loss provisions surged 82.9% year-over-year due to conservative provisioning and regulatory model updates.

• Asset quality improved, with NPL ratio declining to 3.2% from 4.5% in 2023.

• Basic EPS reached RWF 97.8, and book value per share increased to RWF 471.3.

Outlook and guidance

• Continued focus on credit monitoring and collections expected to sustain positive asset quality trends.

• Ongoing strategic transformation and value creation for shareholders remain priorities.