Best bank 2025: Bank of Kigali
Bank of Kigali has demonstrated remarkable performance over the review period, earning its place as Rwanda’s best bank by substantially contributing to the country’s economy and financial inclusion. The bank disbursed RF207 billion ($144 million) in SME loans and RF62 billion in agribusiness loans in 2024, significantly empowering local entrepreneurs and farmers. Additionally, it financed pivotal national infrastructure projects, including Kigali International Airport, Gasmeth Energy and RwandAir, which are crucial in boosting Rwanda’s trade, tourism and energy sectors.
The bank also expanded its agency banking network to 5,173 agents, successfully carrying out 5.6 million transactions and thereby enhancing access to financial services in underserved communities. Such initiatives exemplify the bank’s commitment to deepening financial inclusion across the country.
In the arena of innovation and digital transformation, Bank of Kigali has been a frontrunner, achieving a 70% growth in digital transactions across mobile, internet and USSD platforms. It introduced groundbreaking products such as BK QUICK+ digital loans, Tuza na BK for school fees financing, and facilitated self-onboarding through the BK app. The upgrade to the Temenos T24 Core Banking system and achieving PCI-DSS certification further underscore its focus on enhancing security and operational efficiency, setting a benchmark in the country’s banking industry.
Bank of Kigali’s strong 2024 financial and operational performance was evidenced by a 15.4% growth in net loans and 12.2% growth in customer deposits. With a return on equity that rose to 23.6%, the bank continues to show robust financial health. Additionally, the introduction of sector-specific financial products like medical equipment finance, dairy farmer loans and women’s unsecured stock loans demonstrates its agility in meeting diverse customer needs efficiently, making it a deserving winner of this year’s award for Rwanda’s best bank.
