Diane Karusisi, Managing Director of Bank of Kigali, has been confirmed as President of the BK Group, the holding company which oversees the activities of the leading Rwandan financial group (banking, insurance and digital services).
The information was given at the end of the week by the Kigali newspaper “The New Times” and corroborated since, from reliable sources, to the Rwandan Social Security Office, one of the main shareholders of BK.
Set up last December, BK Group PLC reflects Bank of Kigali’s desire to diversify its scope of activities, long confined to the banking sector alone. The group’s three subsidiaries are now active in banking (Bank of Kigali), insurance (BK General Insurance) and digital services (BK TecHouse) and aim to take full advantage of the good prospects offered by the Rwandan market. The latter, although small, is very popular with foreign investors, including Moroccan bankers, who have finalized several occasions in recent years: acquisition of Cogebanque by Attijariwafa Bank, acquisition of Agaseke Bank by BMCE Bank of Africa and even declared interest of BCP for … the BK. A strategic partnership that has not materialized, for the time being.
The BK Group ($ 900 million in consolidated assets) now operates 79 branches across the country and claims a 33% market share in the banking segment for a net profit of 23.3 billion Rwandan francs (28 millions of dollars) for 2017, up 12.5% over the previous year.
Jacques Leroueil, Kigali