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8/3/2019 Bank of Kigali 2010 9M 2010 Results Update
1/59
BANQUE DE KIGALI S.A.R.C. A 019 Ki gali T IN n 10.000.345 Capital : RWF 5 005 000 000
B.P. 175 - KIGALI Parcelle 6112, Avenue de la Paix Kigali (Rwanda)
Your trusted partner in wealth creation
Bank of Kigali Q3 2010 Results Overview
December 2010
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About Bank of Kigali
December 2010 Bank of Kigali Q3 2010 Results Overview 2
The Leading Bank In Rwanda
Number 1 bank by total assets with 27% market share as at 30
September 2010
The only credit rated bank in Rwanda
International & local awards
2009 and 2010 Bank of the Year Awards from the Banker
magazine Best Bank in Rwanda Award in 2009 & 2010 from EMEA Finance
Magazine
Best Taxpayer in Rwanda for eight years running 2002-2009
Key Facts
Established in 1967
The state increased its equity interest in the Bank from50% to 100% in 2006
Current management team assembled in 2007
Supervisory Board enhanced & internationalized in 2009
New strategy focusing on the universal banking business
model and profitable growth adopted in 2009
Market Share Evolution Growing Faster Than The Banking Sector
YE 2006 YE 2007 YE 2008 YE 2009 Sep-10
Total Assets 24.7% 29.0% 23.4% 26.3% 26.9%Net Loans 23.0% 25.3% 24.4% 26.8% 30.3%
Client Deposits 25.2% 30.6% 24.6% 25.8% 26.3%
Shareholders' Equity 26.5% 28.3% 22.3% 26.8% 25.7%
Total Assets Growth YTD 2010 (September) BK share in total sector growth
Bank of Kigali 14% 33%
Rwandan Banking Sector 11%Net Loans Growth
Bank of Kigali 21% 86%Rwandan Banking Sector 6%
Total Deposits Growth
Bank of Kigali 16% 29%Rwandan Banking Sector 14%
Shareholders Equity Growth
Bank of Kigali 22% 22%Rwandan Banking Sector 27%
US$ mln, unless otherwise noted YE 2009 Sep 10 YTD Growth,YTD
US$
Total Assets 265.0 294.1 11.0%
Net Loans 134.5 157.6 17.2%
Client Deposits 190.6 214.0 12.3%
Shareholders' Equity 32.3 38.3 18.5%
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Investment Highlights
December 2010 Bank of Kigali Q3 2010 Results Overview 3
Sound Operating Environment Politically stable country with the government widely admired for fostering socioeconomic progress, rooting out corruption and effective
absorption of foreign aid
Young population base of around 10 million, PPP-adjusted GDP per capita of US$1,150
Robust economic growth of 9%-6%% in 2005-2009, GDP growth of 6% in 1H 2010
Diversifying export base, CAD contained at 7% of GDP
Sensible monetary policies, manageable inflation (2010 YTD CPI of 4.8%), managed currency float
Named Top Reformer globally in the 2010 World Bank Doing Business ReportAccess to a large regional market through the East African Community integration initiatives
Well-regulated banking sector
Banking Sector P otential Early stage of development, with Banking Assets/GDP of 19.6% as at YE 2009Sector asset growth of 12% in 2009, 9% in 1H 2010
Over 90% of the population unbanked
High Barriers To Entry Highly concentrated banking sector, with Top3 banks accounting for a 61% market share (81% for Top 5)
Significant execution risks involved in capturing significant market share for a new entrant, due to large capital outlays required for building a retail
footprint, limited pool of managerial talent, and a narrow base of large corporates
Market-Leading Franchise The larges t bank in Rwanda by assets (28% market share) , loans (29%), deposits (27%) and equity (26%)
Growing faster than the banking sector, achieving further market share gains
The most profitable bank in Rwanda, accounting for 72% of aggregate sector profit in 2009 and 47% in 1H 2010Well-known, trusted and prestigious brand
Universal Banking Strategy Driving Profitable
Growth
Aggressive expansion strategy aiming at achieving retail banking ubiquity and further market share capture is underway
Banker of choice for large corporates for decades, complementing this traditional strength with focus on SME banking
Private banking launch imminentDiversification of revenue streams sought by focusing on unfunded income sources and product innovation
Transparency And Good Governance Governed by an effective board comprising accomplished local leaders and seasoned international banking executives
Unqualified IFRS quarterly and annual audits since 1999 when National Bank of Rwanda started requiring quarterly and annual audit of the
financial statements
Investor Relations outreach started in 2010
Establishing itself as an international borrower, with EIB a lender and discussions with several other IFIs
Sound and Balanced Business Model Experienced and knowledgeable management team
Entrenched and long-standing corporate client relationships allow for sound credit risk management
Operating efficiency, with Cost-Income Ratio below 50% despite the ongoing footprint expansion
Modern IT platform with all branches online and developing electronic banking channels
Self-funding business model, with Loans/Deposits of 71% allowing for further substantial loan book expansionCAR of 16.5%, significantly above the current regulatory requirement of 10%
Disciplined approach to business diversification, with Top 10 Borrowers and Depositors accounting for 27.8% and 26.9% of Tota l Loans and Total
Deposits, respectively
Very little uncollateralised lending;
NPLs comprise less than 10% of the loan book and are aggressively managed
Has been rated at A+/A1 by Global Credit Rating Co.
Sound AML/KYC policies and strict OR controls in effect
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Bank of Kigali Key Figures
December 2010 Bank of Kigali Q3 2010 Results Overview 4
Millions, unless otherwise noted Q3 2010 Q2 2010 Q1 2010 YE 2009
US$ RwF US$ RwF US$ RwF US$ RwF
Total Assets 294.1 173,520 297.6 174,901 272.5 156,527 265.0 151,896Net Loans 157.6 92,973 151.7 89,151 147.1 84,517 134.4 77,096Client Balances & Deposits 214.0 126,283 214.1 125,838 198.0 113,727 190.6 109,282Total Liabilities 255.8 150,927 262.3 154,151 238.7 137,137 232.6 133,356Total Shareholders Equity 38.3 22,613 35.3 20,750 33.8 19,391 32.3 18,540Number of branches 26 25 20 17
Number of ATMs 26 6 6 6
Number of debit cards in issue 4,220 3,694 1,690 3,527
FTEs 467 417 370 303
RwF/US$ exchange rate (e-o-p) 590.0 587.8 574.4 573.2
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Bank of Kigali Development Milestones
December 2010 Bank of Kigali Q3 2010 Results Overview 5
2006 2007 2008 2009 2010 2010 YTD Growth
US$167.5 mln
US$72.0 mln
US$131.3 mlnUS$16.2 mln
9
US$228.4 mln
US$91.2 mln
US$190.9 mlnUS$19.2 mln
9
US$219.4 mln
US$131.0 mln
US$170.5 mlnUS$28.9 mln
12
US$265.0 mln
US$134.5 mln
US$190.6 mlnUS$32.3 mln
17
US$294.2 mln
US$157.6 mln
US$ 214.0 mlnUS$38.4 mln
26
+11.0%
+17.2%
+12.3%+18.9%
Total Assets (e-o-p)
Loan Book (e-o-p)
Client Deposits (e-o-p)Equity (e-o-p)
Number of branches
2 2 2 5 6 Number of Western-Trained Professionals
Retail Banking
Corporate Banking
Trade FinanceForeign Exchange
Internet Banking
Retail Banking
Corporate Banking
Trade FinanceForeign Exchange
Internet Banking
Retail Banking
Corporate Banking
Trade FinanceForeign Exchange
Internet Banking
Retail Banking
Corporate Banking
Trade FinanceForeign Exchange
Internet Banking
Retail Banking
Corporate Banking
Trade FinanceForeign Exchange
Internet Banking
SMS Banking
Private Banking
Key Business Lines
GCR: A+/A1 Credit Rating
EIB Euro 5 million loan
facility
EIB Euro 5 million
loan facilityDiscussions with
several IFIs underway
Key Lenders
RwF/US$ exchange rate (e-o-p)
2006 2007 2008 2009 2010
525.670 533.413 550.439 573.231 590.000
Note: growth rates based on RwF values
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December 2010 Bank of Kigali Q3 2010 Results Overview 6
26 branches as of September 2010, of which
12 in Kigali
14 in regions
2006 2007 2008 2009 Q3 2010
Number of branches 9 9 12 17 26
Bank of Kigali Branch Network
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Q3 2010 Financial Highlights
December 2010 Bank of Kigali Q3 2010 Results Overview 7
Total Assets Net Loans
Client Deposits Shareholders Equity
69,45377,096
84,51789,151 92,973
22.8%26.8%
28.6% 29.2%30.3%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%35.0%
-
20,000
40,000
60,000
80,000
100,000
30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
RWF million
Net loans (LHS) Market Share By Net Loans (RHS)
145,978 151,896 156,527174,901 173,520
25.6% 26.4% 26.3% 27.9% 26.9%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
-
50,000
100,000
150,000
200,000
30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
RW F million
Total Assets (LHS) Market Share By Total Assets (RHS)
106,892109,282
113,727
125,838126,283
28.3%25.7%
25.9%
27.0% 26.3%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
3 0-Sep -09 YE 2 00 9 3 1-Mar -10 3 0-Jun -10 3 0-Sep -10
RWF million
Client Deposits (LHS) Market Share By Client Deposits (RHS)
20,453
18,541 19,391
20,750 22,613
14.0%
12.2% 12.4% 11.9%13.0%
0.0%
2.0%
4.0%6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
-
5,000
10,000
15,000
20,000
25,000
30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
RWF million
Shareholders' Equity (LHS)Shareholders' Equity/Total Assets (RHS)
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Q3 2010 Financial Highlights Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 8
Total Assets Net Loans
Client Balances & Deposits Shareholders Equity
239.1255.8
265.0 272.5297.6 294.1
-
50.0
100.0
150.0
200.0
250.0
300.0
350.0
J un e 20 09 Se pt em be r 2 00 9 D ec em be r 2 00 9 M arc h 20 10 J un e 20 10 S ep te mb er 20 10
US$ mln
127.6121.7
134.5
147.1151.7
157.6
-
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
J un e 20 09 S ep te mb er 20 09 De ce mb er 20 09 M arc h 20 10 J un e 20 10 Se pt em be r 2 01 0
US$ mln
175.4187.3 190.6
198.0
214.1 214.0
-
50.0
100.0
150.0
200.0
250.0
Ju ne 2 00 9 Se pt em be r 2 00 9 D ec em be r 2 00 9 M arc h 20 10 J un e 20 10 Se pt em be r 2 01 0
US$ mln
33.735.8
32.3
33.835.3
38.3
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
J un e 2 00 9 S ep te mb er 20 09 De ce mb er 20 09 M arc h 2 01 0 Ju ne 20 10 Se pt em be r 2 01 0
US$ mln
4.5
Dividendsof
US$4.5 mln paid
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Q3 2010 Financial Highlights Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 9
Composition of Total Assets, RwF mln Composition of Total Liabilities, RwF mln
Composition of Total Assets, % Composition of Total Liabilities, %
65,829 64,790 59,83270,184 67,780
69,453 77,096 84,517 89,15192,973
6,384 6,3926,431
6,919 7,5014,3123,618 5,747
8,647 5,266
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000180,000
200,000
30-Se p-09 YE 2009 31-Mar-10 30-Jun-10 30-Se p-10
RwF Million
Other Asset s Fixed Asset s Net Loans C ash & Equivalen ts
45.1% 42.7%38.2% 40.1% 39.1%
47.6% 50.8% 54.0% 51.0% 53.6%
4.4% 4.2% 4.1% 4.0% 4.3%
3.0% 2.4% 3.7% 4.9% 3.0%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
Other Asse ts Fixed Asse ts Net Loans Cash & Equiva lents
106,892 109,282 113,727 125,838 126,283
11,826 15,10411,812
15,341 16,2946,807 6,326
8,954
10,329 8,331
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
RwF Million
Other Liabilt ies Borrowed Funds Client Deposit s
85.2% 83.6% 84.6% 83.1% 83.7%
9.4% 11.6% 8.8% 10.1% 10.8%
5.4% 4.8% 6.7% 6.8% 5.5%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
Other Liabilt ie s Borrowed Funds Client Deposit s
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9M 2010 Financial Highlights Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 10
Revenue Total Recurring Operating Costs
Profit Before Provisions Net Income
11,854
14,958
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
9M 2009 9M 2010
RWF Milion
+26%
4,395
7,212
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9M 2009 9M 2010
RWF Million
+64%
Heavy investmentinbranch network
expansion, +157 FTE's
4,555
4,072
3,800
3,900
4,000
4,100
4,200
4,300
4,400
4,500
4,600
9M 2009 9M 2010
RWF Milion-11%
7,459
7,746
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
9M 2009 9M 2010
RWF Milion
+4%
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9M 2010 Financial Highlights Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 11
Revenue Composition Net Fee & Commission Income
FX Trading Income Net Other Non-Interest Income
4,124
6,427
7,730
8,531
0
2,000
4,000
6,000
8,000
10,000
12,000
14,00016,000
9M 2009 9M 2010
RWF Million
Net Int erest Incom e Non -Int erest In co me
11,854
14,958+26%
43.0%
65.2%
57.0%
250
647
-
100
200
300
400
500
600
700
9M 2009 9M 2010
RWF Million
+159%
2,213
3,689
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
9M 2009 9M 2010
RWF Million
+67%
4,124
6,427
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
9M 2009 9M 2010
RWF Million
+56%
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9M 2010 Financial Highlights Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 12
Recurring Operating Costs Structure, 9M 10 Recurring Operating Costs, 9M 09-9M 10
Normalised Cost/Income Ratio Total Employees
Cost/Income ratio equals Total Operating Income divided by the sum of Recurring Operating
Costs and Bonuses (Paid or Accrued)
PersonnelCost, 54.4%
Depreciation,14.2%
OtherOperatingExpenses,
31.4%
1,933 2,410
6281,063
2,232
4,081
-
1,000
2,000
3,000
4,000
5,000
6,000
7,0008,000
30-Sep-09 30-Sep-10
RwF million
Personnel Cost Depreciat ion Other Operat ing Expenses
4,792
7,554
358
303
370
417
467
0
50
100150
200
250
300
350
400
450
500
Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010
50.6%
55.0%
46.8%
51.4%
52.8%
42.0%
44.0%
46.0%
48.0%
50.0%
52.0%
54.0%
56.0%
Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010
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24,047
51,299 44,99127,364 31,143
82,845
57,983 68,735 98,474 95,140
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10
RwF Million
CB banking Clients B alan ces & DepositsRB banking Clients B alnces & Deposits
106,892 109,282113,727
125,838 126,283
Q3 2010 Financial Highlights Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 13
Gross Loans Net Loans
Client Deposits & Balances Term Deposits
* share of gross retail banking loans in gross loans decreased due to thereclassification of certain clients from Retail Banking to SME in Q2 2010
*share of net retail banking loans in gross loans decreased due to shifting of
number of clients from retail to SME
*share of retail client deposits & balances in client deposits & balancesdecreased due to shifting of number of clients from retail to SME
*share of retail term deposits term deposits decreased due to shifting of number
of clients from retail to SME
13,05622,070 22,097 16,816 17,478
60,01158,844
67,313 76,708 79,804
0
20,000
40,000
60,000
80,000
100,000
120,000
Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10
RwF Million
Gross Corporate Banking Loans Gross Retail Banking Loans
73,06780,914
89,41093,524 97,282
*
11,972
20,925 20,62915,520 16,631
57,481
56,17163,888 73,631 76,342
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10
RwF Million
Net Corporate Banking loans Net Retail Bank ing Loans
69,453
77,09684,517
89,15192,973
*
*
1,0753,958 9,517 3,740 3,905
25,915
25,95817,753
25,40628,593
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10
RwF Million
Corporate Banking term deposits Retail Banking Term deposits *
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Capital Adequacy & Liquidity
December 2010 Bank of Kigali Q3 2010 Results Overview 14
Total Capital Adequacy Ratio (BNR)
Net Loans/Client Balances & Deposits Cumulative Liquidity Gap
Net Loans/Total Assets
14.1%
16.0%16.9%
16.4%
18.7%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
2007 2008 2009 Q2 2010 Q3 2010
39.9%
59.7%50.8% 51.0%
53.6%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
2007 2008 2009 Q2 2010 Q3 2010
47.8%
76.8%
70.5% 70.8%73.6%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
2007 2008 2009 Q2 2010 Q3 2010
(25,334)(27,820)
(35,087)
(37,773)
(2,622)
(0)
(32,572)(31,467)
(40,289)(50,452)
7,796
-
(60,000)
(50,000)
(40,000)
(30,000)
(20,000)
(10,000)
-
10,000
20,000
0-1 month 1-3 months 3-6 months 6-12 months 0-1 Years Over 5 years
RwF Million
De ce mb er 2009 Se pte mb er 2010
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Loan Book Analysis
December 2010 Bank of Kigali Q3 2010 Results Overview 15
Loans By Currency, 30 September 2010 NPLs
Loan Loss Reserve Gross Loan Book Breakdown By Maturity
82.0%
96.6%
18% 3%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
Gross Corporate Loans Gross Retail Loans
Foreign currency Local currency
8,060
6,685
8,8629,207
9,649
11.6%
8.7%
10.5% 10.3% 10.4%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
-
2,000
4,000
6,000
8,000
10,000
12,000
Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010
RwF Million
NPL s ( LHS) NPL s T o Gro ss L oans ( RHS)
3,613 3,8184,893 4,373 4,309
8142,669
4.9%
4.7%
5.5%
4.7%
4.4%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010
RwF Million
Loan Lo ss Reserves (LHS)
Write-offs (LHS)
Loan Lo ss Reserve To Gross Loans (RHS)
18,678
2,2503,243
6,662
50,081
24,313
6,126 4,411 3,900
58,532
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
Less than 1
month
1 to 3 months 3 t o 6 months 6 t o 12 months Over 1 yea r
RwF Million
YE 200 9 Q3 20 10
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Client Balances & Deposits
December 2010 Bank of Kigali Q3 2010 Results Overview 16
Client Balances & Deposits Breakdown, Q3 2010 Client Balances & Deposits By Currency, 9M 2010
Retail & Corporate Client Balances & Deposits Client Balances & Deposits By Maturity, 9M 2010
Corporate
CurrentAccounts,
53.9%Corporate
TermDeposits,
22.6%
Retail
CurrentAccounts,
20.1%
Reta il Term
Deposits,
3.3%
29,49724,445 24,047
51,29944,991
27,364 29,628
58,322
73,63182,845 57,983
68,73598,474 96,655
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10
RwF Million
Retail Banking Client Balances & Deposits Corporate Banking Client Balances & Deposits
87,818
98,076106,892 109,282
113,727
125,838 126,283
26.8%22.2%
73.2% 77.8%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
Foreign Currency Loca l Currency
Corporate Client deposits Retail Client Deposits
71.6%
4.9% 4.3% 8.5% 10.7%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
On Demand Less than 1
month
1 to 3
months
3 to 6
months
6 to 12
months
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Corporate Banking Overview
December 2010 Bank of Kigali Q3 2010 Results Overview 17
Highlights Gross Corporate Loan Portfolio By Products, Q3 10
Gross Corporate Loans
Serving over 4,000 legal entities
Top clients include Inyange Industries, the leading food processing company in Rwanda
Bralirwa, the leading beverage company in Rwanda
Kobil Petrolium, one of the leading oil companies in Rwanda
Engen Rwanda, one of the leading oil companies in Rwanda BruseelsAirlines
SULFO Rwanda industries, one of the leading cosmetics, detergents, mineral waters, plastic moldings,
polyethylene films and tubing manufacturers in Rwanda, with operations in East & Central Africa
Merez Petroleum, one of the leading petroleum importers in Rwanda
Gorillas Hotels, deluxe hotel chain operator
Onatracom, the leading public transportation company
China GEO Engineering, the leading infrastructure development company
Rwanda Mountain Tea, the major tea producing companies in Rwanda
Akagera Motors, the major importer of Toyota vehicles in Rwanda
Tolirwa, the major metal materials manufacturer in Rwanda
MTN, the leading communications provider in Rwanda
Ameki Color, the leading paint manufacturer in Rwanda
German Agro Action, a non-governmental organisation
Client coverage started in spring 2010
2006 2007 2008 2009 Q3 2010
Top 10 Borrowers 22.5% 20.2% 21.7% 26.0% 24.2%
Top 20 Borrowers 31.6% 49.1% 32.3% 33.3% 32.7%
2006 2007 2008 2009 Q3 2010
Top 10 deposits & balances 24.3% 31.5% 23.9% 26.0% 28.3%
Top 20 deposits & balances 30.9% 40.8% 34.3% 36.8% 35.4%
YE 2009 Q3 2010
RwF 57,983 mln RwF 113,020 mln
Our Top Clients
MerezPetr oleum
Tolirwa
Term
Deposits,25,958
Demand
Deposits,32,026
55.2% of corporate
client balances &
deposits
44.8% of corporate
client ba lances &deposits
Corporate Client Balances & Deposits
53,73459,266 57,481 56,171
63,88873,631 76,342
4,9842,641 2,530 2,673
3,425
3,0783,462
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10
RwF mln
Net corporate loans Provisions
58,71861,907 60,011 58,844
67,313
76,70879,804
DemandDeposits,
76,532
TermDeposits,
36,488
68% of clientbalances &deposits
32% of clientbalances &deposits
Overdraft,5,087
WorkingCapitalLoans,19,410
CapExLoans,24,438
CommercialMortgageloans,23,222
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Retail Banking Overview
December 2010 Bank of Kigali Q3 2010 Results Overview 18
Highlights Retail Loans Disbursed
Retail Loans By Products Retail Client Balances & Deposits
Serving over 45,000 individuals, up from c.30,000
as at YE 2009 26 branches as of 30 September 2010, further
branch network expansion underway
Over 55,000 retail accounts as of 30 September
2010
A major enhancement of electronic banking
channels underway
The retail product lineup redesign underway
YE 2009 Q3 2010RwF 51,299 mln RwF 29,628 mln
Term
Deposits,11,592
Demand
Deposits,
46,391
80.0% of retail client
balances & deposits
20.0% of retail client
balances & deposits
1,092 888 1,490 1,868 1,050 917 1,579
183 171
272
379
76188
469
0
50
100
150
200
250
300
350400
450
500
0
200
400
600
800
1,000
1,200
1,4001,600
1,800
2,000
Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10
RwF Million
Volume of Retail loans disbursed (LHS)
Number of Retail Loans disbursed (RHS)
Current
Accounts,
85.7%
Savings
Accounts
1.1%
Q3 '09' Q4 '09' Q1 '10' Q2 '10' Q3 '10'
Rw F Million unless otherwise noted
Consumer Loans 4,491 6,103 6,610 5,891 6,883
Overdraft Loans 723 1,661 1,763 1,772 1,437
Micro-Loans 27 116 104 29 19
Mortgage Loans 7,327 11,563 10,655 8,387 7,962
Micro loans overdraft 488 2,627 2,965 736 1,178
Gross RB Loans 13,056 22,070 22,097 16,815 17,478
Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10
Consumer Loans 34.4% 27.7% 29.9% 35.0% 39.4%
Overdraft Loans 5.5% 7.5% 8.0% 10.5% 8.2%
Micro-Loans 0.2% 0.5% 0.5% 0.2% 0.1%
Mortgage Loans 56.1% 52.4% 48.2% 49.9% 45.6%
Micro Loans overdraft 3.7% 11.9% 13.4% 4.4% 6.7%
Total 100.0% 100.0% 100.0% 100.0% 100.0%
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Q3 2010 Financial Highlights
December 2010 Bank of Kigali Q3 2010 Results Overview 19
Note: converted to US$ dollars for the convenience using end-of-period exchange rates
Q3 2010 Q2 2010 Q1 2010 Q3 2009 Q-o-Q Y-o-Y
RWF millions, unless otherwise noted Change Change
US$ RwF US$ RwF US$ RwF US$ RwF
Net Interest Income 4.8 2,818 5.0 2,943 4.8 2,769 4.7 2,694 -4.2% 4.6%
Net Non-Interest Income 4.0 2,359 3.8 2,243 3.2 1,826 2.2 1,247 5.2% 89.1%
Total Operating Income 8.8 5,177 8.8 5,186 8.0 4,595 6.9 3,941 -0.2% 31.4%
Total Recurring Operating Costs 4.4 2,620 4.3 2,554 3.5 2,038 3.3 1,863 2.6% 40.6%
Profit Before Provisions 4.3 2,557 4.5 2,632 4.5 2,557 3.6 2,078 -2.8% 23.1%
Net Income 3.2 1,862 2.3 1,360 1.5 850 2.8 1,580 37.0% 17.9%
Total Assets 294.1 173,520 297.6 174,901 272.5 156,527 255.8 145,978 -0.8% 18.9%
Net Loans 157.6 92,973 151.7 89,151 147.1 84,517 121.7 69,453 4.3% 33.9%
Client Deposits 214.0 126,283 214.1 125,838 198.0 113,727 187.3 106,892 0.4% 18.1%Total Liabilities 255.8 150,907 262.3 154,151 238.7 137,136 219.9 125,525 -2.1% 20.2%
Shareholders' Equity 38.3 22,613 35.3 20,750 33.8 19,391 35.8 20,453 9.0% 10.6%
RwF/US$ exchange rate (e-o-p) 590.0 587.80 574.39 570.73
Sep-10 Sep-09
Millions, unless otherwise noted US $ RwF US $ RwF
Net Interest Income 14.5 8,531 13.5 7,730
Net Non-Interest Income 10.9 6,427 7.2 4,124
Total Operating Income 25.4 14,958 20.8 11,854
Total Recurring Operating Costs 12.2 7,212 7.7 4,395
Profit Before Provisions 13.1 7,746 13.1 7,459
Net Income 6.9 4,072 8.0 4,555
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Key RatiosQ3 2010
December 2010 Bank of Kigali Q3 2010 Results Overview 20
Q3 2010 Q2 2010 Q1 2010 Q3 2009ProfitabilityReturn on Average Assets 4.3% 3.3% 2.2% 4.5%
Return on Average Equity 34.4% 27.1% 17.9% 32.1%
Net Interest Margin , Annualised, % 7.6% 8.2% 8.2% 9.1%
Loan Yield, Annualised,% 15.2% 14.8% 15.3% 17.2%
Interest Expense/Interest Income, % 29.4% 21.8% 27.4% 25.2%Cost of Deposits, Annualised,% 3.2% 2.6% 3.6% 3.5%
LiquidityNet Loans/Total Assets,% 53.6% 51.0% 54.0% 59.2%
Interest Earning Assets/Total Assets,% 83.2% 86.2% 86.1% 84.7%
Liquid Assets / Total Deposits 41.9% 40.1% 43.6% 49.8%
Interbank Borrowings / Total Deposits 11.4% 10.9% 9.4% 10.0%
Short term Liquidity Gap 7.6% 16.1% 14.0% 16.3%
Gross Loans / Total Deposits 68.2% 66.2% 71.2% 61.5%
Asset QualityNPLs / Gross Loans, % 9.9% 9.8% 7.8% 11.6%
Provisions / NPLs 44.7% 47.7% 55.2% 45.0%Large Exposures / Gross Loans 11.8% 13.1% 10.6% 8.8%
Cost of Risk, Annualised -1.1% 2.4% 5.7% -1.9%
Leverage (Total Liabilities/Equity), Times 6.7 7.4 7.1 6.1
Capital AdequacyCore Capital / Risk Weighted Assets 18.7% 16.4% 17.7% 17.3%
Total Qualifying Capital / Risk Weigited Assets 18.7% 16.4% 17.7% 17.3%
Off Balance Sheet Items / Total Qualifying Capital 402.8% 429.0% 441.5% 421.6%
Large Exposures / Core Capital 55.8% 62.6% 49.8% 36.1%
NPLsProvisions / Core Capital 23.6% 23.1% 24.0% 24.3%
Market SenstivityForex Exposure / Core Capital 12.5% -2.8% 7.9% 1.7%
Forex Loans / Forex Deposits 1.2% 0.8% 1.0% 1.0%
Forex Assets / Forex Libilities 107.7% 106.3% 107.0% 104.0%
Selected Operating DataFull Time Employees 467 417 370 310
Contractors 0 0 0 0
Total Employees 467 417 370 310
Assets per FTE (RWF) 371,563 419,427 423,046 505,024
Number of Active Branches 26 24 19 14
Number of ATMS 26 6 6 6
Number of POS Terminals 90 79 60 42
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Experienced & Dynamic Management
December 2010 Bank of Kigali Q3 2010 Results Overview 21
Individual Title Background/Experience
James Gatera Managing Director James has led the bank for the last five years. During which time, he has grown the Banks PBT from RwF3.797 million to 7.059
million (186%), total assets from RwF 70.472 million to RwF 151.896 million and Deposits from RwF 56.692 million to RwF123.130 million (217%).
Lawson Naibo Chief Operating O fficer Lawson has been with the Bank since 2 009 and is a q ualified a ccountant & chartered b anker.
Louis Rugerinyange Chief Shared Services Officer Louis has b een with t he Bank for o ver 3 0 years a nd h olds a Bachelors Degree in Economics.
Flora Nsinga Head o f HR a nd Administration Flora is t he H ead o f H uman R esources & A dministration D epart ment. S he has been w ith t he B ank s ince 2 008. Prior t o j oining t heBank, she worked in the telecommunications industry.
Flora holds a Bachelors Degree in business administration with specialisation in Human Resources from Kigali Institute of
Science, Technology & Management.
Frances Ihogoza Head o f C orporate Affairs Frances h as w orked w ith t he B ank f or o ver o ne y ear. S he h as o ver t en y ears e xperience i n management p ositions i n Public S ervice
with a Masters Degree in Public Administration.
Martin Mulisa Head of Corporate Banking Martin has been with the Bank for since 2009 and has wide experience in credit analysis, relationship management & corporate
banking.
Adolphe Ngunga Head of Retail Banking Adolphe has b een w ith the B ank f or o ver 1 0 years. H e held various responsibilities in R etail and C ommercial Banking.
John Bugunya Head of Finance & Budget John has been w ith the B ank s ince 2009 a nd has vast experience in f inancial s ervices as an a udit manager w ith D eloitte a nd a s a
financial consultant in the UK.
Innocent Musominari Head of Credit Innocent has worked with the bank since 2004 and vast experience in credit analysis and management gained from working in theRwandan banking for over seven years.
Alex Ngabonziza Head of ICT Alex is the Head of Information and Communication Technology and has been with the Bank since 2009. Prior to joining theBank, Alex was head of applications Division G7 charged with management of all software and application in place at Rwanda
Revenue Authority.
Alex holds a Bachelors Degree in Technical Electromechanical Engineering with information technology option from the
National University of Rwanda.
Gera ld Nyangezi Head of Interna l Audi t Geraldheads Interna l Audit and Contro l Department . He joined the Bank in 2009 and has vast experience in Audit & Finance
especially from the financial sector and telecommunication industry.
Gerald holds a Bachelor of Commerce Degree from Makerere UniversityUganda, and Bachelor of Accounting Degree from
Transki UniversityRepublic of South Africa. He is also a member of Certified Chartered Accountants UK (ACCA) and
Institute of Certified Public AccountantsRwanda.
Yves Gatsimbanyi Head of Risk & Compliance Yves is the Head of Risk & Compliance since early 2010. Yves has vast experience in the Rwanda financial sector, including 10
years as Bank examiner at the National Bank of Rwanda and later held the position of Internal Control & Compliance within the
banking sector in Rwanda.
He holds a Bachelors Degree in Economics from the National University of Rwanda.
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Board Of Directors
December 2010 Bank of Kigali Q3 2010 Results Overview 22
Individual Title Background/Experience
L ado G ur geni dz e C ha ir ma n L ad o G ur gen id ze is a car eer b ank er w ho a ft er a d eca de s p ent a t s ev er al i n vest men t b an ks in E a st er n E ur op e a nd L on do n r etu rn ed t o h is na tiv e G eo rgia in 2 00 4 a nd sp ear hea ded , a s E xecu tiv e C ha ir ma n a ndCEO, a turnaround ofBank ofGeorgia(LSE:BGEO).During Lados three-yeartenure,thebanks totalassetsand net incomegrew760%and 1,563%,respectively. Asitsmarket sharegrewfrom18% to34%,
Bank of Georgia becamethe leading universalbank in Georgia andthe regionwith market capitalisationexceedingUS$900millionat thetimeofLados departure(up from US$30 million at thetimeof hisarrival).Under Lados leadership Bankof Georgia received Euromoney Award for Excellene forthree consecutive years (2005-2007) andthe Bankof theYear Award by theBanker (2006-2007).
In 2007-2008, Lado has served as Prime Minister of Georgia, leading the Georgian economy through the final stage of free-market reforms, including tax cuts, financial services sector reform as well as
aggressiveprivatisation and liberalisation policies.
Sincehe stepped downas Prime Minister,Lado hasbeen a frequentpublic speaker on issues of economic liberty and free-market reforms in developingcountries and co-chairsthe EmoryCentre for AlternativeInvestments. InOctober2009,he wasinvited tojoin, asChairman, theboard ofBankof Kigali,the largestbank inRwanda.
In September2009, Lado established,together withDinu Patriciu,LibertyInvestments, an investmentcompany focusing on financialservices institutions in frontier marketswith low corruption, low taxesandopen economies. In thesame month, Liberty Investments announced theacquisition of a controlling equity interestin Liberty Bank,which has thelargestclientbase in Georgia, serving some1.2 million clientsanda branchnetwork of183 branches. SinceSeptember 2009, under Lados guidance, Liberty Bankhas grown totalassets, netloans and client depositsby 55.5%,66.7% and114.3%,respectively.
Heis a Georgian andBritishcitizenand received hisMBA from GoizuettaBusiness Schoolof Emory University in 1993, followingundergraduatestudiesat MiddleburyCollege andTbilisiStateUniversity.
Lado istheonly person tohavebeen awarded St Georges Victory Order (in2008) and thePresidentialOrder of Excellence (in2010)thetwo highest civilian honours in Georgia.
ApolloM. Nkunda Dir ec tor Apolloi s a pra ct is ingl awyer , a nd a Pa rtner withTrustLa wCha mber s. Apollohas ove r t enye ar s e xper ie nc e inl egalpr ac ti ce f r omboth the publ ic a ndpr ivat e s ec tor. He s pe ci al is es inbanking a ndf ina nc e l aw,labour lawand governmentprocurement.
Apollo holds a Masters degree inBusiness and Tradelaw fromErasmusUniversity Rotterdam, theNetherlands, anda Bachelors of Law fromthe National University of Rwanda.
Heis a memberof theRwanda BarAssociation,the East African LawSociety,an associatemember of theChartered Instituteof Purchasing andSupply, a founding memberof theCentrefor Arbitrationandhonorary counsel to theKigaliGolf Club.
Perrine Mukankusi Director Perrine is Economic Researcher in Prime Ministers Officewithwide experience in planning, monitoring andevaluation.Perrine hasheldvarious responsibilities in Publicservicefor over tenyears, andwasDirectorfor Planning in theMinistryof Justicefor over fine years.
Perrine holds a Masters degree in Business Administration fromthe School of Finance and Banking, anda Bachelor of Commerce degree fromKigaliInstitute of Technologyand Management.
Alphosine Niyigena Dir ec tor Alphons ine i s c ha ir per sonof the UnionI nves tments Cor pora ti on ( UI C) ,vic e c ha ir pe rs on of the Libe ra lProfes sional s Cha mber ,one of the nine c ha mber s of the Rwanda Priva te Sec tor Feder at ion.
Sheservesas BoardMemberof MotorGuarantee Fundand Rwanda Instituteof Administration and Management (RIAM).
Alphonsineis the Managing Director of WorldWide Initiatives sarl, a regional consultingfirm registered in Rwanda and has conducted national and international consultancies as an independent consultant in
theareasof Finance, economic planning andaudit.Priorto joining theprivatesector, Alphonsine served inthe Officeof Auditor Generalfor 5 yearsas senior auditorand teamleader.
Alphonsine holds a Masters Degree in BusinessAdministration majored in Finance fromMaastricht University, Netherlands.
Dat iva Mukes hima na Dir ec tor Dat iva i s the Exe cutive Sec re ta ry f or Duter imber e As bl ,whic hi s a Women Ent repre ne ur ia lAs soci at ionin Rwa nda. Dat iva ha s va st e xper ie nc e withpr ogra mme ma na ge me nt a nd f inancing of NGOs ,a ndgender related programmes.
Dativa holds a Bachelors degree in Economics, majored in money and banking fromKigaliIndependent University.
SudadiS. Kayit ana Dir ec tor Sudadi i s a qua li fi ed a ndpr ac ti cing profe ss iona l a cc ountantwitht ec hnic al e xper ie nc e inI ns ur ance indust ry .He has wide f inance a nda udi t e xper ie nc e e spec ia ll yinthe I nsura nc e I ndus tr y, a nd the inte rnat iona lcommunity organisations including UNDP.
He is an affiliate of the Association of Certified Chartered Accountants (ACCA), qualified professional of supply chain management specialising in Internal Purchasing and is a member of Institute ofPurchasing andsupply (MCIPS).He alsoholds an Associate degree in Economics fromthe NationalUniversity of Rwanda.
M ar c H olzma n D ir ect or M ar c is Vi ce C h air ma n o f B ar cla ys C ap ita l. He h as c on si der ab le i nt er na tio na l e xp er ien ce i n a rea s o f f ina nc e a nd i nv es tmen t, s oci o e co no mic d ev el op ment a nd is wi del y r eco gn is ed a s a l ea di ng a ut ho rit y o n
economic and politicaldevelopmentsin emergingmarkets.Marc alsoservesas Presidentof The Universityof Denverwith approximately 10,000studentsand as Colorados first Secretaryof Technology.Marcdraws on almost three decadesof political and public servicein The United States.He holds a Bachelorof ArtsDegreein Economicsfrom Lehigh University.
Caleb Rwamuganza Director Caleb is Deputy Accountant General-Treasury Management in MINECOFIN. He has extensive experience in the area of Accounting and Finance and has served in the Ministry of Finance and Economic
Planning since 2005 in various capacities. Prior to that, Caleb was Chief Accountant in the Office of the President.
He holds a Master of Arts Degree in Management and Finance from Southampton Solent, Southampton University (UK) and Bachelor of Business Administration in Accounting from Nkumba University,
Uganda.
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Rwandan Economy & Banking Sector
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Country Profile
December 2010 24Bank of Kigali Q3 2010 Results Overview
Area 26,338 sq km
Population 10,746,311
Official Language Kinyarwanda (official), French (official), English (official)
Capital Kigali
Currency (code) Rwandan Franc (RwF)
Nominal GDP (2009E) US$5.2 billion
Nominal GDP Per Capita (2009E) US$536
GDP (2009E) PPP (2009E) US$11.3 billion
GDP Per Capita (2009E) PPP US$1,150
Real GDP Growth Rate 2009E 4.1%
Inflation Rate (e-o-p) 2009E 5.7%
Inflation Rate (average) 2009E 10.4%
FitchRatings Issuer Default Rating B/Stable
Source: International Monetary Fund, CIA World Factbook
Recognised as the second best reformer worldwide in the ease
of doing business in 2009/2010.Since 2005, Rwanda has
implemented 22 business regulation reforms in the areas
measured by Doing Business. Today, entrepreneurs can
register a new business in 3 days.
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Rwandan Economy Highlights
December 2010 25Bank of Kigali Q3 2010 Results Overview
Source: National Institute of Statistics of Rwanda; International Monetary Fund
Gross Domestic Product GDP Per Capita
GDP Composition Inflation
YE 2006 YE 2009
Agriculture,
38.4%
Manufacturing,
6.8%Construction,6.1%
Wholsesale &
Retail Trade,11.2%
Transport &
Communication,6.8%
Finance,
Insurance,2.9%
Public
Administration,5.0%
Education, 4.4%
Other, 18.3%
Agriculture,
33.8%
Manufacturing,
6.4%
Construction,
7.3%
Wholsesale &
Retail Trade,13.0%
Transport &
Communication,7.5%
Finance,Insurance,
2.1%
Public
Administration,4.3%
Education, 4.7%
Other, 21.0%
3.13.7
4.7
5.29.2%
7.7%
11.6%
6.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
-
1.0
2.0
3.0
4.0
5.0
6.0
2006 2007 2008 2009
US$ billion
Nom ina l G DP (LH S) Rea l GD P Grow th Ra te (RH S)
333392
477517
942
1,002 1,114 1,150
-
200
400
600
800
1,000
1,200
1,400
2006 2007 2008 2009
US$
Nominal GDP Per Capita GDP Per Capita (PPP)
12.1%
6.6%
22.3%
5.7%
8.9%
9.1%
15.4%
10.3%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2006 2007 2008 2009
US$
Infla t ion (e-o-p) Infla t ion (period average)
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Rwandan Banking Sector
December 2010 26Bank of Kigali Q3 2010 Results Overview
2004 2005 2006 2007 2008 2009
Timeline Of Foreign Investment
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Rwandan Banking Sector Highlights
December 2010 27Bank of Kigali Q3 2010 Results Overview
Banking Sector Assets & ROA Banking Sector Equity & ROE
RwF mln, unless otherwise noted 2006 2007 2008 2009 9M 2010
Banking Sector Assets 360,762 468,735 516,158 579,520 644,270
Banking Sector Assets As % Of GDP 21.0% 22.9% 20.1% 19.6% n.a.
Banking Sector Loans 177,091 218,384 295,870 287,998 306,512
Banking Sector Loans As % Of GDP 10.3% 10.7% 11.5% 9.7% n.a.Banking Sector Deposits 279,715 365,379 381,926 422,958 481,029
Banking Sector Deposits As % Of GDP 16.3% 17.8% 14.9% 14.3% n.a.
Banking Sector Equity 34,244 51,311 71,322 69,256 87,992
Banking Sector Equity As % Of GDP 2.0% 2.5% 2.8% 2.3% n.a.
Banking Sector ROA, % 1.7% 1.9% 2.0% 1.3% 1.6%
Banking Sector ROE, % 18.4% 16.9% 14.7% 10.5% 11.6%
Source: International Monetary Fund, National Bank of Rwanda
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
2006 2007 2008 2009 9M 2010
RwF mln
Banking Sector Assets (LHS) Banking Sector ROA, % (RHS)
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2006 2007 2008 2009 9M 2010
RwF mln
Banking Sector Equity (LHS) Banking Sector ROE, % (RHS)
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Rwandan Banking Sector Highlights Contd
8 licensed commercial banks
December 2010 Bank of Kigali Q3 2010 Results Overview 28
Rank Total Assets Loans Deposits Equity
1 27% 30% 26% 26%
2 19% 25% 20% 22%
3BCR
14% BCR 11% BCR 14% 12%
4 10% 9% 10% 10%
5 9% COGEBANK 8% 10% 10%
6 8% 7% 8% ACCESS 8%
7COGEBANK
8% ACCESS 6% COGEBANK 7% 7%
8 5% KCB 3% 5% KCB 6%
Source: National Bank of Rwanda
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Rwandan Banking Sector Highlights Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 29
Market Share By Total Assets, September 2010
Market Share By Loans, September 2010
Source: National Bank of Rwanda
26.6%
19.0%
15.3%
10.7%
9.3%8.0% 8.3%
2.8%
26.9%
19.4%
13.9%
10.1%
8.3% 8.8% 7.9%
4.7%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
Bank of Kigali UBPR BCR Ecobank Access Cogbank FINA KCB
YE 2009
Sep-10
+14% +14% +2% +5% +0.01% +22% +6% +89%Growth,YTD Sep '1 0
26.8%
23.8%
11.7%10.1%
9.0% 8.5% 8.8%
1.3%
30.3%
24.6%
9.3%10.6%
6.1%7.3%
8.2%
3.4%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
Bank of Kigali UBPR BCR Ecobank Access Cogbank FINA KCB
YE 2009
Sep-10
+21% +10% -15% +13% -27% -8% -0.3% +175%Growth, YTD Sep '10
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Rwandan Banking Sector Highlights Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 30
Market Share By Total Deposits, September 2010
Market Share By Equity, September 2010
Source: National Bank of Rwanda
25.7%
20.3%
15.3%
10.6% 10.3%
7.5%8.4%
1.8%
26.3%
19.9%
14.1%
9.8% 9.8%
7.7% 7.5%
5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
Bank of Kigali UBPR BCR Ecobank Access Cogbank FINA KCB
YE 2009
Sep-10
+15% +11% +5% +4% +7% +16% +0.2% +211% Growth,YTD Sep '1 0
24.3%
19.4%
11.7%12.2%
6.7%
10.3%
8.5%
6.9%
25.7%
21.8%
12.1%
10.4%
6.3%
9.6%
7.7%
6.5%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
Bank of Kigali UBPR BCR Ecobank Access Cogbank FINA KCB
YE 2009
Sep-10
+7% +30% +19% -2% +8% +7% +5% +8% Growth,Y TD Sep '10
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Contact Details
December 2010 Bank of Kigali Q3 2010 Results Overview 31
James Gatera
Managing Director
+225 252 593 121
Lawson Naibo
Chief Operating Officer
+225 788 302 076
Frances IhogozaHead of Corporate Affairs
Company Secretary
+250 252 593 100
Lado Gurgenidze
Chairman of the Board of Directors
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Caution Regarding Forward-Looking Statements
December 2010 32Bank of Kigali Q3 2010 Results Overview
This presentation contains statements that constitute forward-looking statements, including, but not
limited to, statements relating to the implementation of strategic initiatives and other statements relating to
our business development and financial performance.
While these forward-looking statements represent our judgments and future expectations concerning the
development of our business, a number of risks, uncertainties and other factors could cause actual
developments and results to differ materially from our expectations.
These factors include, but are not limited to, (1) general market, macroeconomic, governmental, legislative
and regulatory trends, (2) movements in local and international currency exchange rates, interest rates and
securities markets, (3) competitive pressures, (4) technological developments, (5) changes in the financial
position or credit worthiness of our customers, obligors and counterparties and developments in the marketsin which they operate, (6) management changes and changes to our group structure and (7) other key
factors that we have indicated could adversely affect our business and financial performance, which are
contained elsewhere in this presentation and in our past and future filings and reports, including those filed
with the National Bank of Rwanda.
We are under no obligation (and expressly disclaim any such obligations to) update or alter our forward-
looking statements whether as a result of new information, future events, or otherwise.
Performance indicators are derived from our audited financial statements.
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results
December 2010 Bank of Kigali Q3 2010 Results Overview 33
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 34
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 35
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 37
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 39
B k Of Ki li A Q3 2010 & 9M 2010 A di d R l C d
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 40
B k Of Ki li A Q3 2010 & 9M 2010 A di d R l C d
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Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 41
Bank Of Kigali Receives The Bank of The Year 2010 Award By The Banker
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ank Of igali eceives he ank of he ea 0 0 wa d y he anke
And The Best Bank Award By emeafinance magazine
December 2010 Bank of Kigali Q3 2010 Results Overview 42
B k Of Ki li A Th t It H B R t d A B Gl b l C dit R ti C
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Bank Of Kigali Announces That It Has Been Rated A+ By Global Credit Rating Co.
December 2010 Bank of Kigali Q3 2010 Results Overview 43
B k f Ki li A Q2 2010 R lt
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Bank of Kigali Announces Q2 2010 Results
December 2010 Bank of Kigali Q3 2010 Results Overview 44
B k f Ki li A Q2 2010 R lt C td
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Bank of Kigali Announces Q2 2010 Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 45
Bank of Kigali Announces Q2 2010 Results Contd
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Bank of Kigali Announces Q2 2010 Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 46
Bank of Kigali Announces Q2 2010 Results Contd
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Bank of Kigali Announces Q2 2010 Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 47
Bank of Kigali Announces Q2 2010 Results Contd
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Bank of Kigali Announces Q2 2010 Results Contd
December 2010 Bank of Kigali Q3 2010 Results Overview 48
Bank of Kigali Announces Q2 2010 Results Contd
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Bank of Kigali Announces Q2 2010 Results Cont d
December 2010 Bank of Kigali Q3 2010 Results Overview 49
Bank of Kigali Announces Q2 2010 Results Contd
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Bank of Kigali Announces Q2 2010 Results Cont d
December 2010 Bank of Kigali Q3 2010 Results Overview 50
Bank of Kigali Announces Q2 2010 Results Contd
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Bank of Kigali Announces Q2 2010 Results Cont d
December 2010 Bank of Kigali Q3 2010 Results Overview 51
Bank of Kigali Announces Q2 2010 Results Contd
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Bank of Kigali Announces Q2 2010 Results Cont d
December 2010 Bank of Kigali Q3 2010 Results Overview 52
Bank of Kigali Announces Q1 2010 Results
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Bank of Kigali Announces Q1 2010 Results
December 2010 Bank of Kigali Q3 2010 Results Overview 53
Bank of Kigali Announces Q1 2010 Results Contd
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Bank of Kigali Announces Q1 2010 Results Cont d
December 2010 Bank of Kigali Q3 2010 Results Overview 54
Bank of Kigali Announces Q1 2010 Results Contd
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Bank of Kigali Announces Q1 2010 Results Cont d
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Bank of Kigali Announces Q1 2010 Results Contd
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Bank of Kigali Announces Q1 2010 Results Cont d
December 2010 Bank of Kigali Q3 2010 Results Overview 56
Bank of Kigali Announces Q1 2010 Results Contd
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Bank of Kigali Announces Q1 2010 Results Cont d
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Bank of Kigali Announces Q1 2010 Results Contd
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Bank of Kigali Announces Q1 2010 Results Cont d
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Bank of Kigali Announces Q1 2010 Results Contd
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Bank of Kigali Announces Q1 2010 Results Cont d