BPR Bank Rwanda has announced a net profit of Rwf29 billion for the financial year 2024, and 13.7% of that profit, equivalent to Rwf4 billion, will be distributed to shareholders as dividends, according to Patience Mutesi, the Managing Director of the bank.
She made the remarks during a press conference following the bank’s 17th Annual General Meeting on Saturday May 10, where shareholders approved the distribution of a gross dividend of Rwf50 per share, the first such payout since the bank transitioned from a cooperative to a commercial bank.
Mutesi clarified that dividends will be distributed only to shareholders who have completed the registration process with the bank.
As of today, BPR Bank Rwanda has registered 238,614 out of a list of 576,245 members.
“The process will begin very soon, within the next month, and by July 15, payments will have been made to the registered shareholders.
“Our appeal is that shareholders, wherever they are, see the goodwill the bank is showing and continue to engage with us. If they provide their identification and proof of ownership, we will register them and ensure they receive their dividends,” she added.
“We’re now rolling out exciting products and services, especially digital ones that improve accessibility for our customers. This is a strong statement that we are here, we are back, and we are the people's bank,” she added.
Additionally, Mutesi noted that the bank has implemented a system for issuing share certificates, and registered shareholders can now collect them at any branch. The bank is also conducting a share valuation to determine the current market value, which shareholders will be notified about within the next month.
Addressing the issue of shares and shareholders, BPR Chairman George Rubagumya said, "In any institution, when you are a shareholder, your rights are not determined by the number of shares you own, except when it comes to voting. Whether you own one share, ten, or a thousand, you are all shareholders."
He noted that with the bank’s increased capacity, they are focused on ensuring shareholders benefit, as the bank’s success directly enhances the value of their shares.
Rubagumya explained that the true value of being a shareholder lies in the bank's support for their work, noting that although many had left due to the bank's previous lack of capacity, it is now stronger than most banks in the country.
In response to concerns about shareholders who claim to have lost their shares, Mukwiye Romuald, a representative for local shareholders, clarified that no shareholder has been deprived of their shares.
He added, “We believe that many of those who claim to have been deprived have not approached the bank to complete their registration. Once the shares begin to be traded, we anticipate that those individuals will come forward to confirm the availability of their shares, and they will indeed be there.”
Pascal Nyirigango, a non-executive director representing minority shareholders, also touched on the issue of shareholding fees, explaining how the transition from a cooperative to a commercial bank led to changes in the minimum share value.
"Initially, when people opened accounts, they paid a fee. This fee, which was Rwf500, later evolved into share capital with a minimum value of Rwf15,000 when we became a bank. Some shareholders contributed more, up to Rwf10 million, which is why there is such variation in shareholding amounts."
"Today, the shares of those who contributed larger amounts hold greater value, but it's important to note that profits and value are from this year, not from 2007, because we have been making losses."
To check your shares in BPR, dial *667# and follow the instructions, using your ID number as the code. For assistance, you can also call 0788187200 or 0788636186.
