2018, BANK OF AFRICA - RWANDA (BOA–RWANDA) pursued its growth with an increase in total assets by 35 %. The bank slowed down the process of investing in fixed assets by focusing more on interest bearing assets.
Although loan to customer went up by 21% from 2017, the cost of risk decreased by 20%; it went down from 2.0% in 2017 to 1.6% in 2018. The loan increase was made possible by customer deposit which grew by 7% from 2017.
In the same exercise, there was a capital injection of 6 billion Rwandan Francs by shareholders, this allowed the bank to get enough liquidity to invest in financial instruments which increased by 78%.
The 2018 loss went down by 53% compared to 2017. On one hand, there were performances made in terms of revenue where commission and forex income increased by 28% and 258% respectively; on the other hand, there was a strict control of operating expenses which show a reduction of 9%.