Bank Of Kigali Targets Wealthy Clients With A New Product

by Business Watch Team
Bank of Kigali

BK Group Plc has launched private banking services for its high-net-worth individuals, setting new standards for the region’s banking industry.

The Rwanda Stock Exchange and Nairobi Securities Exchange-listed lender’s private banking clients will have, among other privileges, expedited services at all bank branches, access to BK premier exclusive loan facilities, overdrafts, and attractive interest earnings on deposits.

“Private banking is about having access to our experienced financial experts who will delve deep into understanding your financial vision, risk appetite, and ambitions. Together we will co-create a financial roadmap to realise your dreams,” said the Bank of Kigali CEO Dr. Diane Karusisi.

The private bank clients will have dedicated relationship managers to streamline all banking interactions through a single point of contact.

They will access unsecured loans of up to KSh6 million payable in five years and secured loans of up to 7 years’ maturity.

In addition, the customers will access home equity loan financing for up to 20 years and mortgage loans payable over a similar period.

They will also enjoy international and local payment transfer facilitation and foreign exchange transactions processed through email.

“This is an unmatched, personalized service that guarantees exclusive expertise for your banking needs,” said Dr. Karusisi.

Bank of Kigali Group reported a 30.3 percent jump in half-year net profit to $31.7 million, driven by a strong growth in interest and transaction income.

The lender reported a 22.5 percent growth in total revenue to $92.4 million, reflecting a strong performance of its loan book and non-funded income.

“BK Group Plc exhibited an impressive performance in the first half of 2023 that not only underscored the economy’s resilient rebound but also highlighted significant strides in enhancing asset quality and bolstering profitability. Notably, the Group achieved a commendable year-on-year net income growth, paralleled by substantial growth across all key performance indicators, solidifying its position as a robust player in the market,” said BK Group CEO, Béata U. Habyarimana, while commenting on the half-year 2023 performance.

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