Sie sind auf Seite 1von 8

Bank of Kigali Limited

Your trusted partner in wealth creation


Kigali, 6 June 2011
600.1 RwF/US$ Period End Exchange rate as at 31 March 2011 594.4 RwF/US$ Period End Exchange Rate as at 31 December 2010 574.4 RwF/US$ Period End Exchange Rate as at 31 March 2010

Bank of Kigali Announces Q1 2011 Audited Results Q1 2011 US$ 10.6 4.3 6.3 (0.8) 3.2 2010 US$ 35.5 17.1 18.4 (3.0) 10.4 Change Q-o-Q Y-o-Y 3.2% 38.7% -13.2% 27.0% 18.6% 48.1% 54.8% -61.5% -9.1% 125.4% Change Y-o-Y 32.1% 56.1% 15.5% 20.1% 16.9% Change Q-o-Q 6.8% 3.5% 8.8% 7.6% 2.9%

Millions, unless otherwise noted Total Operating Income (Revenue) Total Recurring Operating Costs Profit Before Provisions Net Provision Expense Net Income (Loss)

RwF 6,375 2,588 3,787 (463) 1,915

Total Operating Income (Revenue) Total Recurring Operating Costs Profit Before Provisions Net Provision Expense Net Income (Loss)

RwF 21,133 10,193 10,940 (1,802) 6,179

Total Assets Net Loans Client Deposits Total Liabilities Shareholders' Equity

As at 31 March 2011 US$ RwF 351.8 211,123 174.8 104,902 246.1 147,666 297.2 178,338 54.6 32,785 As at 31 March 2011 49.7% 71.0% Q1 2011 3.7% 23.7%

Y-o-Y 34.9% 24.1% 29.8% 30.1% 69.1%

Net Loans/Total Assets Net Loans/Client Deposits

As at 31 March 2010 54.0% 74.3% Q1 2010 2.2% 17.9%

ROAA ROAE

Q1 2011, Q4 2010 and Q1 2010 numbers in this press release are audited interim numbers.

About Bank of Kigali Established in 1966, Bank of Kigali is the largest bank in Rwanda by total assets, with a 28.2% market share as of 31 March 2011. The bank has 33 branches in Rwanda and provides commercial banking services to over 56,000 individuals and over 6,000 legal entities. For further information, please visit www.bk.rw or contact: Frances Ihogoza Head of Corporate Affairs/Company Secretary Tel: +250 252 593 100 or +250 252 593 200 Fax: +250 252 575 504 or +250 252 573 461 Email: fihogoza@bk.rw SWIFT: BKIGRWRW R.C. A 019 Kigali TIN n 10.000.3458 B.P. 175 - KIGALI Parcelle 6112, Avenue de la Paix Kigali (Rwanda)

Bank of Kigali Limited


Your trusted partner in wealth creation
Kigali, 6 June 2011

Bank of Kigali (the Bank), the leading bank in Rwanda, announced today its non-IFRS results, reporting Net Income of RwF 1,915 million (US$3.2 million) in Q1 2011, down 9.1% q-o-q and up 125.4% y-o-y. Q1 2011 Financial Highlights Total Assets grew by 6.8% q-o-q and 34.9% y-o-y to RwF 211,123 million as at 31 March 2011
Total Assets Growth Bank of Kigali The Rwandan Banking Sector YTD 2011 6.8% 3.8% 2010 30.1% 26.1%

Net Loans grew by 3.5% q-o-q and 24.1% y-o-y to RwF 104,902 million as at 31 March 2011
Net Loan Book Growth Bank of Kigali The Rwandan Banking Sector YTD 2011 3.5% 9.5% 2010 31.5% 13.1%

Client Deposits grew by 8.8% q-o-q and 29.8% y-o-y to RwF 147,666 million as at 31 March 2011
Client Deposits Growth Bank of Kigali The Rwandan Banking Sector YTD 2011 8.8% 3.1% 2010 24.2% 27.8%

Bank of Kigali Growth vs. Rwandan Banking Sector Growth in 2010 and Q1 2011
35.0% 30.1% 30.0% 26.1% 25.0% 20.0%
6.0% 12.0%

31.5% 27.8% 24.2%


8.0% 6.8% 10.0% 9.5% 8.8%

15.0% 10.0% 5.0% 0.0% Total Assets Bank Of Kigali Growth In 2010

13.1%
4.0% 2.0% 0.0% 3.8% 3.5% 3.1%

Net Loans

Client Deposits

Total Assets Bank Of Kigali Growth In Q1 2011

Net Loans

Client Deposits

Rwandan Banking Sector Growth In 2010

Rwandan Banking Sector Growth In Q1 2011

Market Share Dynamics


35.0% 31.5% 30.0% 26.4% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Total Assets 2009 Net Loans 2010 Q1 2011 Client Deposits 29.8% 27.4% 28.2% 26.8% 25.7% 25.9% 27.4%

Bank of Kigali Limited


Your trusted partner in wealth creation
Kigali, 6 June 2011

Net Interest Income equalled RwF 3,627 million in Q1 2011, down 4.1% q-o-q and up 25.3% y-o-y. Net Fee & Commission Income amounted to RwF 779 million in Q1 2011, down 0.7% q-o-q and up 69.5% y-o-y. Total Operating Income (Revenue) reached RwF 6,375 million in Q1 2011, up 3.2% q-o-q and up 38.7% y-o-y. Total Recurring Operating Costs decreased by 13.2% q-o-q and grew by 27.0% y-o-y to RwF 2,588 in Q1 2011. Cost/Income ratio reached 48.2% in Q1 2011 as compared to 46.8% in Q1 2010. Annualised ROAA reached 3.7% in Q1 2011, whereas annualised ROAE reached 23.7% in Q1 2011. Total Assets grew by 6.8% q-o-q and 34.9% y-o-y, reaching RwF 211,123 million as at 31 March 2011. Net Loans grew by 3.5% q-o-q and 24.1% y-o-y, reaching RwF 104,902 million as at 31 March 2011. The relatively low q-o-q Net Loan Book growth rate was due to repayment of a large facility in order to comply with the single obligor requirement and the booking of general provisions of RwF 1,000 million. Client Deposits amounted to RwF 147,666 million, up 8.8% qo-q and 29.8% y-o-y. Net Loans/Total Assets ratio stood at 49.7% as at 31 March 2011 vs. 54.0% as at 31 March 2010. Net Loans/Client Deposits ratio reached 71.0% as at 31 March 2011 vs. 74.3% as at 31 March 2010. In Q1 2011, we have proven yet again we can continue our growth without sacrificing the profitability. A lot of preparatory work has been done for the upgrade and expansion of our ATM channel and card products, to enable us to reach out to unbanked and under-banked individuals in Rwanda, the results of which will be evident in the nearest few months, commented James Gatera, Managing Director.

Bank of Kigali Limited


Your trusted partner in wealth creation
Kigali, 6 June 2011 Q1 2011 Performance Highlights Total Operating Income
RwF mln 7,000 6,000

Total Assets
RwF mln 250,000 200,000

+38.7%

6,375

+34.9%
211,123

5,000 4,000 3,000 2,000

4,595

156,519 150,000 100,000 50,000

1,000 Q1 2010 Q1 2011

Q1 2010 Q1 2011

Recurring Operating Costs


RwF mln 3,000 2,500 2,038 2,000 1,500 1,000 500 Q1 2010 Q1 2011 80,000 60,000 40,000 20,000 -

Net Loans
RwF mln 120,000

+27.0%
2,588

+24.1%
84,509

104,902

100,000

Q1 2010

Q1 2011

Net Income
RwF mln 2,500 2,000 1,500 1,000 500 Q1 2010 Q1 2011 850

Client Deposits
RwF mln 160,000

+29.8%
113,727

147,666

+125.4%

1,915

140,000 120,000 100,000 80,000 60,000 40,000 20,000 Q1 2010 Q1 2011

Bank of Kigali Limited


Your trusted partner in wealth creation
Kigali, 6 June 2011

Q1 2011 INCOME STATEMENT


Q1 2011 Millions, unless otherwise noted US$ Interest Income Interest Expense Net Interest Income Fee & Commission Income Fee & Commission Expenses Net Fee & Commission Income Income From Documentary Operations Expense On Documentary Operations Net Income From Documentary Operations Other Non-Interest Income Other Non-Interest Expense Net Other Non-interest Income FX Trading Income Net Non-Interest Income Total Operating Income Directors' Remuneration Personnel Costs Other Operating Expenses Depreciation Total Recurring Operating Costs Profit Before Provisions Loan Loss Provisions Gains on recovery Net Provisions Profit Before Tax Bonuses (Paid & Accrued) Accrued Or Paid Income Tax Net Income 7.9 1.9 6.0 1.3 1.3 0.1 0.1 0.4 0.4 2.8 4.6 10.6 0.1 2.0 1.5 0.7 4.3 6.3 (1.9) 1.2 (0.8) 5.5 0.8 1.5 3.2 RwF 4,770 1,143 3,627 779 779 42 42 220 220 1,707 2,748 6,375 63 1,200 881 443 2,588 3,787 (1,158) 695 (463) 3,324 485 924 1,915 US$ 8.3 2.0 6.4 1.3 1.3 0.1 0.1 0.0 0.0 2.6 4.0 10.4 0 1.4 2.7 0.8 5.0 5.4 (2.5) 2.0 (0.5) 4.9 0.2 1.1 3.5 RwF 4,943 1,160 3,783 785 785 35 35 14 14 1,557 2,391 6,175 57 862 1,588 475 2,981 3,193 (1,469) 1,170 (299) 2,894 114 673 2,107 US$ 6.9 1.8 5.0 0.8 0.8 0.1 0.1 0.3 0.3 1.8 3.0 8.0 0.0 2.0 1.2 0.4 3.5 4.5 (2.7) 0.6 (2.1) 2.4 0.2 0.7 1.5 RwF 3,941 1,047 2,895 460 460 48 48 147 147 1,046 1,700 4,595 19 1,121 691 208 2,038 2,557 (1,538) 335 (1,203) 1,354 114 390 850 -3.5% -1.4% -4.1% -0.7% NMF -0.7% 19.3% NMF 19.3% 1454.8% NMF 1454.8% 9.6% 14.9% 3.2% 11.1% 39.3% -44.5% -6.8% -13.2% 18.6% -21.2% -40.6% 54.8% 14.9% 325.7% 37.2% -9.1% 21.0% 9.2% 25.3% 69.5% NMF 69.5% -13.5% NMF -13.5% 50.0% NMF 50.0% 63.3% 61.6% 38.7% 233.5% 7.1% 27.6% 113.4% 27.0% 48.1% -24.7% 107.4% 61.5% 145.6% 325.7% 136.9% 125.4% Q4 2010 Q1 2010 Q-o-Q Change Y-o-Y Change

Notes: (1) Growth calculations are based on RwF values (2) US$ values have been derived from period-end RwF/US$ exchange rates set out on page 1 of this news report

Bank of Kigali Limited


Your trusted partner in wealth creation
Kigali, 6 June 2011

Q1 2011 BALANCE SHEET


Q1 2011 Millions, unless otherwise noted Cash Balances With BNR Cash Balances With Banks Treasuries Other Fixed Income Instruments Gross Loans Loan Loss Reserve Net Loans To Clients Net Investments Net Property, Plant & Equipment Net Intangible Assets Net Other Assets Total Assets Interbank Deposits Client Deposits Borrowed Funds Payable Interest & Dividends Other Liabilities Total Liabilities Ordinary Shares Retained Earnings Revaluation Reserve Net Income Shareholder's Equity Total Liabilities & Shareholders' Equity US$ 11.2 13.6 52.0 33.9 20.4 185.0 (10.2) 174.8 0.4 30.1 0.6 14.7 351.8 22.7 246.1 3.0 25.4 297.2 8.3 31.3 11.8 3.2 54.6 351.8 RwF 6,740 8,187 31,204 20,317 12,211 111,014 (6,113) 104,902 268 18,081 362 8,851 211,123 13,637 147,666 1,811 15,223 178,338 5,005 18,803 7,061 1,915 32,785 211,123 US$ 11.6 10.7 61.4 30.6 8.8 177.5 (6.9) 170.6 0.5 30.8 0.3 7.4 332.5 31.8 228.2 18.9 278.9 8.4 22.8 12.0 10.4 53.6 332.5 RwF 6,882 6,333 36,480 18,202 5,224 105,527 (4,124) 101,403 268 18,313 181 4,391 197,677 18,921 135,677 11,208 165,807 5,005 13,536 7,151 6,179 31,870 197,677 US$ RwF 9.0 5,148 7.7 4,430 43.0 24,686 30.3 17,410 14.2 8,158 155.7 89,410 (8.5) (4,901) 147.1 84,509 0.6 340 11.1 6,386 0.1 45 9.4 5,407 272.5 156,519 20.6 198.0 4.6 15.6 238.7 8.7 23.6 1.5 33.8 272.5 11,812 113,727 2,643 8,945 137,128 5,005 13,535 850 19,391 156,519 Q4 2010 Q1 2010 Q-o-Q Change -2.1% 29.3% -14.5% 11.6% 133.7% 5.2% 48.2% 3.5% 0.0% -1.3% 100.5% 101.6% 6.8% -27.9% 8.8% NMF NMF 35.8% 7.6% 0.0% 38.9% -1.3% -69.0% 2.9% 6.8% YTD Change 30.9% 84.8% 26.4% 16.7% 49.7% 24.2% 24.7% 24.1% -21.1% 183.1% 708.1% 63.7% 34.9% 15.5% 29.8% NMF -100.0% 70.2% 30.1% 0.0% 38.9% NMF 125.3% 69.1% 34.9%

Notes: (1) Growth calculations are based on RwF values (2) US$ values have been derived from period-end RwF/US$ exchange rates set out on page 1 of this news report

Bank of Kigali Limited


Your trusted partner in wealth creation
Kigali, 6 June 2011

KEY RATIOS
Q1 2011 Q1 2010 Profitability Return on Average Assets, Annualised, % Return on Average Equity, Annualised, % Net Interest Margin , Annualised, % Loan Yield, Annualised,% Interest Expense/Interest Income, % Cost of Deposits, Annualised,% Efficiency Cost/Income Ratio Costs/Average Assets, Annualised, % Personnel Costs/Total Recurring Operating Costs Personnel Costs/Average Total Assets, Annualised Personnel Costs/Total Operating Income Net Income/Total Operating Income Liquidity Net Loans/Total Assets,% Liquid Assets / Total Deposits Interbank Borrowings / Total Deposits Short Term Liquidity Gap Gross Loans / Total Deposits Asset Quality NPLs / Gross Loans, % NPL Coverage Ratio Large Exposures / Gross Loans Cost of Risk, Annualised Leverage (Total Liabilities/Equity), Times Capital Adequacy Core Capital / Risk Weighted Assets Total Qualifying Capital / Risk Weighted Assets Off Balance Sheet Items / Total Qualifying Capital Large Exposures / Core Capital NPLs Less Provisions / Core Capital Market Sensitivity Forex Exposure / Core Capital Forex Loans / Forex Deposits Forex Assets / Forex Liabilities Selected Operating Data Full Time Employees Assets per FTE (RwF) Number of Active Branches Number of ATMS Number of POS Terminals
Note: ratios for Q1 2011 and Q1 2010 are annualised

2010 3.5% 24.5% 8.3% 14.4% 23.5% 3.2%

3.7% 23.7% 8.8% 17.0% 24.0% 3.2%

2.2% 17.9% 8.6% 15.3% 26.6% 3.6%

48.2% 6.0% 67.6% 3.4% 27.4% 30.0%

46.8% 6.2% 61.5% 3.2% 27.3% 18.5%

47.5% 6.1% 51.8% 3.0% 25.0% 29.2%

49.7% 44.6% 8.5% 16.7% 68.9%

54.0% 43.6% 9.4% 14.0% 71.2%

51.3% 42.9% 12.3% 11.9% 68.4%

8.5% 65.0% 6.4% 1.7% 5.4

7.8% 55.2% 13.8% 5.7% 7.1

8.4% 45.2% 5.8% 1.9% 5.2

21.9% 16.1% 18.7% 23.1% 16.1% 20.1% 452.3% 441.5% 402.8% 31.6% 62.6% 27.9% 19.0% 20.9% 15.3%

7.0% 7.9% 8.9% 1.7% 1.0% 1.1% 109.6% 106.3% 106.0%

447 370 453 472,310 423,025 436,372 33 19 33 26 6 26 100 60 97

Bank of Kigali Limited


Your trusted partner in wealth creation
Kigali, 6 June 2011
Ratio Definitions 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Return On Average Total Assets (ROAA) equals Net Income of the period divided by average Total Assets for the same period; Return On Average Total Equity (ROAE) equals Net Income of the period divided by average Total Shareholders Equity for the same period; Average Interest Earning Assets are calculated on a quarterly basis; Interest Earning Assets include: Cash & Balances With Banks, Treasuries and Net Loans To Clients; Net Interest Margin equals Net Interest Income of the period divided by Average Interest Earning Assets for the same period; Loan Yield equals Interest Income of the period divided by average Gross Loans for the same period; Cost Of Funds equals Interest Expense of the period divided by average Total Liabilities for the same period; Total Operating Income includes Net Interest Income and Non-Interest Income; Costs include Total Recurring Operating Costs and Bonuses (Paid and Accrued); Cost/Income equals Total Recurring Operating Costs plus Bonuses (Paid and Accrued) for the period divided by Total Operating Income; Personnel Costs/Total Recurring Operating Costs equals the sum of Directors Remuneration, Personnel Costs and Bonuses (Paid and Accrued) for the period divided by Total Recurring Operating Costs ; Personnel Costs/Average Total Assets equals the sum of Directors Remuneration, Personnel Costs and Bonuses (Paid and Accrued) for the period divided by average Total Assets ; Client Deposits include Corporate and Retail deposits; Total Deposits include Interbank Deposits and Client Deposits; Shareholders Equity equals to Total Shareholders Equity; NPLs are loans overdue by more than 90 days; NPL Coverage ratio equals Loan Loss Reserve as of the period end divided by NPLs as of the same date; Large exposures include loans that in aggregate comprise 10% of Core Capital Cost Of Risk equals Net Provision For Loan Losses of the period, plus provisions for (less recovery of) other assets, divided by average Gross Loans To Clients for the same period; Total Capital Adequacy equals Total Capital as of the period end divided by Total Risk Weighted Assets as of the same date, both calculated in accordance with the requirements of the National Bank of Rwanda.

Das könnte Ihnen auch gefallen