BPR Bank Rwanda posts Rwf32bn profit before tax in 2022

In its 2022 financial year results, BPR Bank Rwanda Plc announced a significant increase in Profit Before Tax, with the bank's Managing Director, Patience Mutesi, attributing the growth to a successful integration process and laying a strong foundation for the future. The bank posted Rwf32 billion Profit Before Tax, marking an 88 per cent increase from the previous year. Total operating income also saw a healthy growth, rising by 16 per cent to Rwf72 billion compared to Rwf61 billion in 2021. The bank's loans and advances increased by 28 per cent to Rwf467 billion, showcasing a year of consolidation and progress. The Managing Director highlighted how the integration of BPR Bank with KCB Group, which commenced on April 1st, was a pivotal move that led to various improvements and synergies. The merging of staff, offices, and operations, along with strategic restructuring of deals and investments, contributed to the strong financial performance witnessed in 2022. By enhancing the bank's capacity and asset base, the integration set the stage for future growth and resilience. Looking ahead to 2023, BPR Bank Rwanda aims to maintain a growth trajectory, albeit at a slower pace compared to the remarkable results of 2022. The focus will continue to be on investments in technology, digital capabilities, and people, with an emphasis on improving customer experience and service delivery. While projecting a growth rate lower than 2022, the bank remains confident in surpassing industry benchmarks and staying ahead in the competitive banking landscape. Key sectors where the bank has directed substantial investments include trade, manufacturing, agriculture value addition, and construction, aligning with Rwanda's economic growth drivers. The bank's asset quality has been commendable, with non-performing loans reducing to below 4% by the end of 2022, a testament to effective risk management strategies and support for struggling sectors like hospitality. Amid global banking crises and forex challenges, BPR Bank Rwanda emphasizes resilience through close customer relationships, robust monitoring mechanisms, and stringent credit quality assessments. The bank's commitment to digital transformation is evident in the growing user base on digital platforms, balancing the evolving needs of tech-savvy customers with traditional service preferences. As the bank charts its path forward, the core focus remains on customer-centric approach, continuous innovation, and sustainable growth strategies. By leveraging the gains from the integration process and investing in technology and talent, BPR Bank Rwanda is poised to navigate uncertainties and maintain its position as a leading financial institution in the region.