Diane Karusisi, CEO Bank of Rwanda Group Plc. Bank of Kigali Group shareholders grew their wealth by $59.8 million at the Nairobi Securities Exchange (NSE) even as institutional offshore investors bolted out of East Africa due to Covid-19 uncertainties.
They, however, lost 5.6 percent of their wealth at the Rwanda Stock Exchange due to a sharp share price drop. Keen investors
NSE trading data from January to November analysed by The EastAfrican shows that the value of the bank hit $223.4 million on November from $163.5 million in January.
Analysts attribute this to NSE’s capacity to offer more opportunities for listed companies to tap into mature investors in East African securities.
“We believe in regional integration of our capital markets as a way to offer more opportunities and facilitate investors,” said Diane Karusisi CEO Bank of Rwanda Group Plc.
She said investors are also keen on buying the Bank of Kigali Group Plc shares, trusting the group’s business fundamentals, Rwanda’s economic rebound and strong future growth prospects.
“We have seen growth and profitability across our business lines; commercial banking, insurance, investment banking and technology,” said Karusisi. In the full year ending December 31, the bank projects to report $463 billion net profit compared with $37 million billion reported last year.
According to Karusisi, the growth projection in the full year ending December 31 is based on the performance in the first three quarters of the year and the business recorded in the months of October and November.
“Going forward we expect customer lending, our enhanced digital service channels and transactions income to be the main revenue drivers.
Information from African Stock Exchanges (AFX), an association of African exchanges says Bank of BK Group is the 35th most traded stock on NSE over the past three months.
“BKG has traded a total volume of 683,000 shares — in 177 deals — valued at $160,191 over the period, with an average of 10,841 traded shares per session,” AFX says.However, the bank investors are counting loses at Rwanda Stock Exchange (RSE), blamed on low activity on most counters as off-shore investors take conscious investment decisions about investing in East African equities.The RSE trading data shows that Bank of Kigali Group share price plunge by 5.6 percent from $0.27 in January 2021 to $0.24 per share in November 2021.The low activity at RSE has stagnated Bank of Kigali Group stock at Rwf250 per share, from August-November. Dar bourse shines It is only […]
