NCBA Bank Rwanda reports RWF231mn profit

NCBA Bank Rwanda, a subsidiary of NCBA Bank Group, has recently reported a profit of over RWF231 million for the past financial year. This remarkable achievement comes just three years into the establishment of NCBA Bank Rwanda, showcasing a strong growth trajectory in a competitive market. In an exclusive interview with CNBC Africa, Lina Higiro, the CEO of NCBA Bank Rwanda, shared insights into the bank's strategic initiatives and achievements that have led to this impressive financial performance. Higiro highlighted that the bank's success in 2021 was driven by a comprehensive growth strategy that focused on expanding the loan book and enhancing non-funded income through digital products. As the youngest bank in the market, NCBA Bank Rwanda has demonstrated resilience and strategic decision-making that have propelled its growth and positioned it as a key player in the Rwandan banking industry. With a deliberate focus on sectors such as trade, commerce, manufacturing, and retail, NCBA Bank Rwanda has not only achieved financial success but also contributed to job creation and economic growth in the country. The bank's cautious approach to maintaining the quality of its loan portfolio, coupled with substantial growth in customer deposits and capital, reflects market and shareholder confidence in its business operations. Despite facing challenges such as provisions due to the pandemic, NCBA Bank Rwanda's robust business model and sustainable growth strategies have enabled it to overcome obstacles and deliver exceptional financial results. Higiro emphasized the importance of building a resilient balance sheet that supports growth in deposits and loans, even during challenging times. The bank's focus on digital products, such as MoCash, has resonated with customers, leading to significant growth in deposits and a loyal customer base. This strategic approach has not only bolstered the bank's financial performance but also positioned it as a customer-centric institution that meets the evolving needs of the market. Looking ahead, NCBA Bank Rwanda is poised for continued growth and innovation. The bank's expansion plans, including opening new branches in every province, aim to enhance customer reach and provide personalized services to a diverse customer base. Higiro emphasized the importance of maintaining a balance between digital offerings and physical branches to cater to different customer preferences. Additionally, NCBA Bank Rwanda is committed to diversifying its product offerings, particularly in the retail segment, to serve a broader customer base and support economic growth in Rwanda. The bank's focus on asset finance and digitization initiatives underscores its commitment to driving financial inclusion and supporting businesses and individuals across the country. As NCBA Bank Rwanda moves forward, Higiro reaffirmed the bank's dedication to its people and community, with a strong emphasis on employee development and customer satisfaction. With a rich history of delivering asset finance solutions and a forward-thinking approach to digital banking, NCBA Bank Rwanda is well-positioned to achieve sustainable growth and make a positive impact on Rwanda's financial sector.