Bank of Kigali 2010 9M 2010 Results Update

BANQUE DE KIGALI S.A.
R.C. A 019 Kigali B.P. 175 - KIGALI TIN n 10.000.345 Capital : RWF 5 005 000 000 Parcelle 6112, Avenue de la Paix Kigali (Rwanda)
Your trusted partner in wealth creation
Bank of Kigali Q3 2010 Results Overview
December 2010
About Bank of Kigali

Key Facts
Established in 1967 The state increased its equity interest in the Bank from 50% 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
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
US$ mln, unless otherwise noted
YE 2009 US$ Total Assets Net Loans Client Deposits Shareholders' Equity 265.0 134.5 190.6 32.3 294.1 157.6 214.0 38.3 11.0% 17.2% 12.3% 18.5% Sep 10 YTD Growth, YTD
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
Market Share Evolution

YE 2006 Total Assets Net Loans Client Deposits Shareholders' Equity 24.7% 23.0% 25.2% 26.5% YE 2007 29.0% 25.3% 30.6% 28.3% YE 2008 23.4% 24.4% 24.6% 22.3% YE 2009 26.3% 26.8% 25.8% 26.8% Sep-10 26.9% 30.3% 26.3% 25.7%
Growing Faster Than The Banking Sector

Total Assets Growth Bank of Kigali Rwandan Banking Sector Net Loans Growth Bank of Kigali Rwandan Banking Sector Total Deposits Growth Bank of Kigali Rwandan Banking Sector Shareholders Equity Growth Bank of Kigali Rwandan Banking Sector YTD 2010 (September) BK share in total sector growth 14% 33% 11% 21% 6% 16% 14% 22% 27% 86%
29%
22%
December 2010
Investment Highlights
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 Report Access to a large regional market through the East African Community integration initiatives Well-regulated banking sector Early stage of development, with Banking Assets/GDP of 19.6% as at YE 2009 Sector asset growth of 12% in 2009, 9% in 1H 2010 Over 90% of the population unbanked Highly concentrated banking sector, with Top 3 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 The largest 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 2010 Well-known, trusted and prestigious brand 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 imminent Diversification of revenue streams sought by focusing on unfunded income sources and product innovation 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 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 expansion CAR 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 Total 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
Banking Sector Potential
High Barriers To Entry
Market-Leading Franchise
Universal Banking Strategy Driving Profitable Growth
Transparency And Good Governance
Sound and Balanced Business Model
December 2010
Bank of Kigali Key Figures

Millions, unless otherwise noted Total Assets Net Loans Client Balances & Deposits Total Liabilities Total Shareholders Equity Number of branches Number of ATMs Number of debit cards in issue FTEs Q3 2010 US$ RwF 294.1 157.6 214.0 255.8 38.3 173,520 92,973 126,283 150,927 22,613 26 26 4,220 467 Q2 2010 US$ RwF 297.6 174,901 151.7 89,151 214.1 125,838 262.3 154,151 35.3 20,750 25 6 3,694 417 Q1 2010 US$ RwF 272.5 156,527 147.1 84,517 198.0 113,727 238.7 137,137 33.8 19,391 20 6 1,690 370 YE 2009 US$ RwF 265.0 151,896 134.4 77,096 190.6 109,282 232.6 133,356 32.3 18,540 17 6 3,527 303
RwF/US$ exchange rate (e-o-p)
590.0
587.8
574.4
573.2
December 2010
Bank of Kigali Development Milestones

2006 US$167.5 mln US$72.0 mln US$131.3 mln US$16.2 mln 9 2007 US$228.4 mln US$91.2 mln US$190.9 mln US$19.2 mln 9 2008 US$219.4 mln US$131.0 mln US$170.5 mln US$28.9 mln 12 2009 US$265.0 mln US$134.5 mln US$190.6 mln US$32.3 mln 17 2010 US$294.2 mln US$157.6 mln US$ 214.0 mln US$38.4 mln 26 2010 YTD Growth +11.0% +17.2% +12.3% +18.9% Total Assets (e-o-p) Loan Book (e-o-p) Client Deposits (e-o-p) Equity (e-o-p) Number of branches
2 Retail Banking Corporate Banking Trade Finance Foreign Exchange Internet Banking
6 Retail Banking Corporate Banking Trade Finance Foreign Exchange Internet Banking SMS Banking Private Banking
Number of WesternTrained Professionals Key Business Lines
GCR: A+/A1 EIB Euro 5 million loan facility EIB Euro 5 million loan facility
Credit Rating Key Lenders
Discussions with several IFIs underway
RwF/US$ exchange rate (e-o-p) 2006 525.670 2007 533.413 2008 550.439 2009 573.231 2010 590.000
Note: growth rates based on RwF values
December 2010
Bank of Kigali Branch Network

26 branches as of September 2010, of which 12 in Kigali 14 in regions
2006 Number of branches 9
2007 9
2008 12
2009 17
Q3 2010 26
December 2010
Q3 2010 Financial Highlights

Total Assets
RW F million
RWF million
Net Loans
26.9%
30.0%
200,000 150,000
25.6%
26.4%
26.3%
27.9%
100,000 80,000 60,000 40,000 20,000 69,453

22.8%
25.0% 20.0%
145,978 151,896 156,527 174,901 173,520
77,096 26.8%
84,517 28.6%
89,151
29.2%
92,973 30.3%
100,000 50,000 30-Sep-09
15.0%
10.0%
5.0% 0.0%
YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0%
30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
Total Assets (LHS)
Market Share By Total Assets (RHS)
Net loans (LHS)
Market Share By Net Loans (RHS)
Client Deposits
RWF million
140,000 120,000 100,000 28.3%
Shareholders Equity
RWF million
26.3%
126,283 30.0% 25.0% 20.0%
25.7%
25.9% 113,727
27.0% 125,838
25,000 20,000 15,000 10,000 5,000
14.0%
12.2%
12.4%
11.9%
13.0%
80,000
60,000 40,000 20,000
106,892
109,282
15.0% 10.0% 5.0% 0.0%

30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
20,453
18,541
20,750
22,613
19,391
30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10
16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0%
Client Deposits (LHS)
Market Share By Client Deposits (RHS)
Shareholders' Equity (LHS) Shareholders' Equity/Total Assets (RHS)
December 2010
Q3 2010 Financial Highlights Contd

Total Assets
US$ mln
350.0 300.0 255.8 250.0 200.0 150.0 100.0 239.1 297.6 265.0 272.5 294.1 160.0 140.0 120.0 100.0 80.0 60.0 40.0 20.0 June 2009 September 2009 December 2009 March 2010 June 2010 September 2010 June 2009 September 2009 December 2009 March 2010 June 2010 September 2010 127.6 134.5
Net Loans
US$ mln
180.0 151.7 157.6
147.1 121.7
50.0
Client Balances & Deposits

US$ mln
250.0 214.1 214.0 198.0 35.00 30.00
Shareholders Equity
US$ mln
45.00 40.00 33.7 35.8 4.5 32.3
Dividends of US$4.5 mln paid
38.3
200.0
187.3 175.4
190.6
33.8
35.3
150.0
25.00 20.00
100.0 15.00 50.0 10.00 5.00 June 2009 September 2009 December 2009 March 2010 June 2010 September 2010 0.00 June 2009 September 2009 December 2009 March 2010 June 2010 September 2010
December 2010

Composition of Total Assets, RwF mln
RwF Million
200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 8,647 5,266
Composition of Total Liabilities, RwF mln

RwF Million
160,000 140,000 10,329 8,331 16,294 6,326 15,104 8,954 15,341
4,312
6,384 69,453 65,829
3,618
5,747 6,431
84,517 59,832 6,919
6,807 11,826
7,501
6,392 77,096 64,790
120,000
11,812
100,000
89,151 70,184 92,973
80,000 60,000 106,892
67,780
109,282
40,000
20,000
113,727
125,838
126,283
30-Sep-09
Other Assets
YE 2009
31-Mar-10 30-Jun-10
Net Loans
30-Sep-10
30-Sep-09 Other Liabilties YE 2009 31-Mar-10 30-Jun-10 30-Sep-10 Borrowed Funds Client Deposits
Fixed Assets
Cash & Equivalents
Composition of Total Assets, %

120.0%
Composition of Total Liabilities, %

120.0% 5.4% 4.8% 11.6% 5.5% 10.8%
100.0%
80.0% 60.0% 40.0%
3.0% 4.4%
2.4%
3.7%
4.9%
3.0% 4.3%
100.0% 80.0%
6.7% 8.8%
6.8%
10.1%
4.2%
4.1%
4.0%
9.4%
47.6% 45.1%
50.8%
54.0% 38.2%
51.0% 40.1%
53.6%
39.1%
60.0% 40.0% 20.0% 0.0% 85.2% 83.6% 84.6% 83.1% 83.7%
42.7%
20.0%
0.0%
30-Sep-09
Other Assets
YE 2009
Fixed Assets
31-Mar-10 30-Jun-10 30-Sep-10

Net Loans Cash & Equivalents
30-Sep-09 Other Liabilties
YE 2009
31-Mar-10 30-Jun-10
30-Sep-10
Borrowed Funds
Client Deposits
December 2010
9M 2010 Financial Highlights Contd

Revenue
RWF Milion
16,000 14,000 12,000 11,854
Total Recurring Operating Costs

RWF Million
14,958
+26%
8,000
+64% 7,000 6,000 5,000 4,000 4,395 7,212
10,000
8,000 6,000 4,000 2,000
3,000
2,000 1,000 0
9M 2009 9M 2010
Heavy investment in branch network expansion, +157 FTE's
9M 2009
9M 2010
Profit Before Provisions

RWF Milion
9,000
8,000 7,000 6,000 5,000 +4% 7,459
Net Income
RWF Milion
-11%
4,600 7,746
4,500 4,400 4,300 4,200
4,555
4,000
3,000 2,000 1,000 0 9M 2009 9M 2010
4,100
4,000
4,072
3,900
3,800 9M 2009 9M 2010
December 2010
10

Revenue Composition
RWF Million
Net Fee & Commission Income

RWF Million
700 600
500
16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0
+26%
14,958 8,531 57.0%
+159%
647
11,854
7,730
400
65.2%
6,427
300 200 100
250
4,124 43.0% 9M 2009 Net Interest Income 9M 2010 Non-Interest Income
9M 2009 9M 2010
FX Trading Income
RWF Million
Net Other Non-Interest Income

RWF Million
7,000 +56%
4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 2,213
+67%
3,689
6,427
6,000
5,000 4,124
4,000
3,000
2,000
1,000
9M 2009 9M 2010
9M 2009
9M 2010
December 2010
11

Recurring Operating Costs Structure, 9M 10
Recurring Operating Costs, 9M 09-9M 10

RwF million 8,000
7,554
Other Operating Expenses, 31.4%

Personnel Cost, 54.4%
7,000
6,000 5,000
4,000
4,792
2,232
4,081
3,000
2,000
1,063 628
1,933
1,000
-
2,410 30-Sep-10 Other Operating Expenses
Depreciation, 14.2%
30-Sep-09 Personnel Cost Depreciation
Normalised Cost/Income Ratio

56.0% 54.0% 55.0% 52.8% 51.4%
Total Employees
500 450 400 350 300 250 200 150 100 50 0 467 417
358 303
370
52.0% 50.0% 48.0%

46.0% 44.0% 42.0%
50.6%
46.8%
Q3 2009
Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010
Q4 2009
Q1 2010
Q2 2010
Q3 2010
Cost/Income ratio equals Total Operating Income divided by the sum of Recurring Operating Costs and Bonuses (Paid or Accrued)
December 2010
12

Gross Loans
RwF Million
120,000
Net Loans
RwF Million
100,000
89,151 92,973
100,000
80,914 80,000 60,000 58,844 40,000 20,000 0 13,056 22,070 60,011 73,067
89,410
93,524
97,282
90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 57,481 56,171
77,096 69,453
84,517
63,888
73,631
76,342
67,313
76,708
79,804
10,000
20,925 11,972 Q3 '09 Q4 '09
20,629
22,097
15,520
Q2 '10 Net Retail Banking Loans *
16,631 Q3 '10
16,816
17,478
Q1 '10
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Net Corporate Banking loans
Gross Corporate Banking Loans
Gross Retail Banking Loans*
* share of gross retail banking loans in gross loans decreased due to the reclassification 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
Client Deposits & Balances

RwF Million
140,000 120,000 100,000 80,000 60,000 40,000 57,983 68,735 98,474
106,892 109,282 113,727 125,838
Term Deposits
RwF Million
126,283
35,000 30,000 25,000 20,000 15,000 10,000 5,000 25,958 25,915 17,753 25,406 28,593
95,140
82,845
20,000 -
51,299 24,047 Q3 '09 Q4 '09
44,991
27,364 Q1 '10 Q2 '10
31,143 Q3 '10
1,075
3,958
9,517
3,740
3,905
Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Corporate Banking term deposits Retail Banking Term deposits *
CB banking Clients Balances & Deposits RB banking Clients Balnces & Deposits
*share of retail client deposits & balances in client deposits & balances decreased 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
December 2010
13
Capital Adequacy & Liquidity

Total Capital Adequacy Ratio (BNR)
20.0% 18.0% 18.7%
Net Loans/Total Assets

70.0%
60.0% 59.7% 50.8% 53.6%
16.9% 16.0% 14.1%
16.0%
14.0%
16.4%
51.0%
50.0%
39.9% 40.0%
12.0%
10.0%
8.0%
6.0% 4.0% 2.0% 0.0%
30.0%
20.0% 10.0% 0.0%
2007
2008
2009
Q2 2010
Q3 2010
2007
2008
2009
Q2 2010
Q3 2010
Net Loans/Client Balances & Deposits

90.0% 80.0% 70.0% 60.0% 50.0% 40.0%
(20,000)
Cumulative Liquidity Gap

RwF Million
20,000
76.8% 70.5% 70.8%
73.6%
10,000 7,796 (0) 0-1 month (10,000) 1-3 months 3-6 months 6-12 months 0-1 Years Over 5 years (2,622)
47.8%
30.0% 20.0% 10.0% 0.0%

(30,000)
(25,334) (27,820) (37,773)

(35,087)
(40,000) (50,000)
(32,572) (31,467) (40,289) December 2009
(50,452) September 2010
2007
2008
2009
Q2 2010
Q3 2010
(60,000)
December 2010
14
Loan Book Analysis

Loans By Currency, 30 September 2010
120.0% 100.0% 80.0% 60.0%
6,000
NPLs
RwF Million
12,000 14.0%
3%
18%
82.0%
11.6% 10,000 8,000

8,060 6,685 8.7% 10.5% 8,862 10.3% 9,207 10.4% 9,649
12.0%
10.0% 8.0% 6.0%
40.0%
96.6%
4,000 2,000
4.0%
2.0% 0.0%
20.0%
0.0% Gross Corporate Loans Gross Retail Loans
Q3 2009
Q4 2009
NPLs (LHS)
Q1 2010
Q2 2010
Q3 2010
Foreign currency
Local currency
NPLs To Gross Loans (RHS)
Loan Loss Reserve

RwF Million
8,000
7,000 6,000 5,000 4,000 3,000 3,613 3,818 5.5%
Gross Loan Book Breakdown By Maturity

RwF Million
6.0%
70,000 60,000 58,532 50,081
4.9%
4.7% 814 4,893 2,669
4.7%
5.0%
4.4%
4.0% 3.0% 4,309
50,000
4,373 2.0%
1.0% 0.0% Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010
40,000
2,000
1,000 -
30,000
20,000 10,000 18,678
24,313
6,126
Loan Loss Reserves (LHS)

Write-offs (LHS) Loan Loss Reserve To Gross Loans (RHS)
2,250
Less than 1 month 1 to 3 months YE 2009
3,243 4,411 3 to 6 months Q3 2010
6,662
3,900 Over 1 year
6 to 12 months
December 2010
15
Client Balances & Deposits

Client Balances & Deposits Breakdown, Q3 2010
Retail Term Deposits, 3.3% Retail Current Accounts, 20.1%
Client Balances & Deposits By Currency, 9M 2010

120.0% 100.0% 80.0%
73.2%
77.8%
Corporate Term Deposits, 22.6%
Corporate Current Accounts, 53.9%
60.0% 40.0% 20.0% 0.0% Foreign Currency Corporate Client deposits Local Currency Retail Client Deposits 26.8%
22.2%
Retail & Corporate Client Balances & Deposits

RwF Million 140,000
120,000 98,076 106,892 82,845 125,838 126,283 96,655
Client Balances & Deposits By Maturity, 9M 2010

80.0% 70.0% 71.6%
109,282
57,983
113,727
100,000
80,000 60,000 40,000
87,818 58,322
68,735
98,474
60.0% 50.0%
73,631
40.0%
51,299 29,497 24,445 Q2 '09 24,047 Q3 '09 Q4 '09 Q1 '10 44,991 27,364 Q2 '10 29,628
30.0% 20.0% 10.0% 4.9%
20,000 -
4.3%
8.5%
10.7%
Q1 '09
Q3 '10
0.0% On Demand Less than 1 month 1 to 3 months 3 to 6 months 6 to 12 months
Retail Banking Client Balances & Deposits
Corporate Banking Client Balances & Deposits
December 2010
16
Corporate Banking Overview

Our Top Clients

Highlights
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 Bruseels Airlines 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
Gross Corporate Loan Portfolio By Products, Q3 10

Overdraft, 5,087
Commercial Mortgage loans, 23,222
Working Capital Loans, 19,410
Merez Petroleum
Client coverage started in spring 2010
CapEx Loans, 24,438
Corporate Client Balances & Deposits

YE 2009
RwF 57,983 mln
Gross Corporate Loans

RwF mln
90,000 80,000
76,708 67,313 58,718 61,907 60,011 79,804
Q3 2010
RwF 113,020 mln
3,078
3,462
Demand Deposits, 32,026

Tolirwa
Term Deposits, 25,958 44.8% of corporate client balances & deposits
Term Deposits, 36,488
70,000
Demand Deposits, 76,532
68% of client balances & deposits
60,000
50,000 40,000 30,000 20,000 10,000 0
4,984
2,641
58,844
3,425
2,530
2,673
32% of client balances & deposits
73,631
53,734 59,266 57,481 56,171 63,888
76,342
55.2% of corporate client balances & deposits
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10 Provisions
Q2 '10
Q3 '10
Net corporate loans
Top 10 deposits & balances Top 20 deposits & balances
2006 24.3% 30.9%
2007 31.5% 40.8%
2008 23.9% 34.3%
2009 26.0% 36.8%
Q3 2010 28.3% 35.4%
Top 10 Borrowers Top 20 Borrowers
2006 22.5% 31.6%
2007 20.2% 49.1%
2008 21.7% 32.3%
2009 26.0% 33.3%
Q3 2010 24.2% 32.7%
December 2010
17
Retail Banking Overview

Highlights Retail Loans Disbursed
RwF Million
2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0
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
Retail Loans By Products
Q3 '09'
Rw F Million unless otherwise noted
379 272
469
76
183 171
188
1,092
888
1,490
1,868
1,050
917
1,579
500 450 400 350 300 250 200 150 100 50 0
Q1 '09
Q2 '09
Q3 '09
Q4 '09
Q1 '10
Q2 '10
Q3 '10
Volume of Retail loans disbursed (LHS)
Number of Retail Loans disbursed (RHS)
Retail Client Balances & Deposits

YE 2009
Q2 '10' Q3 '10'
Q4 '09'
Q1 '10'
Q3 2010
RwF 29,628 mln
RwF 51,299 mln

Term Deposits, 11,592 Demand Deposits, 46,391 20.0% of retail client balances & deposits
Consumer Loans Overdraft Loans Micro-Loans Mortgage Loans Micro loans overdraft Gross RB Loans
4,491 723 27 7,327 488 13,056 Q3 '09
6,103 1,661 116 11,563 2,627 22,070 Q4 '09 27.7% 7.5% 0.5% 52.4% 11.9% 100.0%
6,610 1,763 104 10,655 2,965 22,097 Q1 '10 29.9% 8.0% 0.5% 48.2% 13.4% 100.0%
5,891 6,883 1,772 1,437 29 19 8,387 7,962 736 1,178 16,815 17,478 Q2 '10 Q3 '10
Savings Accounts 1.1%
Consumer Loans Overdraft Loans Micro-Loans Mortgage Loans Micro Loans overdraft Total
34.4% 5.5% 0.2% 56.1% 3.7% 100.0%
35.0% 39.4% 10.5% 8.2% 0.2% 0.1% 49.9% 45.6% 4.4% 6.7% 100.0% 100.0%
80.0% of retail client balances & deposits
Current Accounts, 85.7%
December 2010
18
Q3 2010 Financial Highlights

Q3 2010 Q2 2010 Q1 2010 Q3 2009
RWF millions, unless otherwise noted US$

Net Interest Income Net Non-Interest Income Total Operating Income Total Recurring Operating Costs Profit Before Provisions Net Income Total Assets Net Loans Client Deposits Total Liabilities Shareholders' Equity 4.8 4.0 8.8 4.4 4.3 3.2 294.1 157.6 214.0 255.8 38.3
Q-o-Q Y-o-Y Change Change
RwF
2,818 2,359 5,177 2,620 2,557 1,862 173,520 92,973 126,283 150,907 22,613
US$
5.0 3.8 8.8 4.3 4.5 2.3 297.6 151.7 214.1 262.3 35.3
RwF
2,943 2,243 5,186 2,554 2,632 1,360 174,901 89,151 125,838 154,151 20,750
US$
4.8 3.2 8.0 3.5 4.5 1.5 272.5 147.1 198.0 238.7 33.8
RwF
2,769 1,826 4,595 2,038 2,557 850 156,527 84,517 113,727 137,136 19,391
US$
4.7 2.2 6.9 3.3 3.6 2.8 255.8 121.7 187.3 219.9 35.8
RwF
2,694 1,247 3,941 1,863 2,078 1,580 145,978 69,453 106,892 125,525 20,453 570.73 Sep-09 -4.2% 5.2% -0.2% 2.6% -2.8% 37.0% -0.8% 4.3% 0.4% -2.1% 9.0% 4.6% 89.1% 31.4% 40.6% 23.1% 17.9% 18.9% 33.9% 18.1% 20.2% 10.6%
RwF/US$ exchange rate (e-o-p)
590.0
587.80
Sep-10
574.39
Millions, unless otherwise noted Net Interest Income Net Non-Interest Income Total Operating Income Total Recurring Operating Costs
US $ 14.5 10.9 25.4 12.2
RwF 8,531 6,427 14,958 7,212
US $ 13.5 7.2 20.8 7.7
RwF 7,730 4,124 11,854 4,395
Profit Before Provisions

Net Income
Note: converted to US$ dollars for the convenience using end-of-period exchange rates
13.1
6.9
7,746
4,072
13.1
8.0
7,459
4,555
December 2010
19
Key Ratios Q3 2010

Q3 2010 Profitability Return on Average Assets Return on Average Equity Net Interest Margin , Annualised, % Loan Yield, Annualised,% Interest Expense/Interest Income, % Cost of Deposits, Annualised,% Liquidity Net Loans/Total Assets,% Interest Earning Assets/Total Assets,% Liquid Assets / Total Deposits Interbank Borrowings / Total Deposits Short term Liquidity Gap Gross Loans / Total Deposits Asset Quality NPLs / Gross Loans, % Provisions / NPLs Large Exposures / Gross Loans Cost of Risk, Annualised Leverage (Total Liabilities/Equity), Times Capital Adequacy Core Capital / Risk Weighted Assets Total Qualifying Capital / Risk Weigited Assets Off Balance Sheet Items / Total Qualifying Capital Large Exposures / Core Capital NPLs Provisions / Core Capital Market Senstivity Forex Exposure / Core Capital Forex Loans / Forex Deposits Forex Assets / Forex Libilities Selected Operating Data Full Time Employees Contractors Total Employees Assets per FTE (RWF) Number of Active Branches Number of ATMS Number of POS Terminals 4.3% 34.4% 7.6% 15.2% 29.4% 3.2% Q2 2010 3.3% 27.1% 8.2% 14.8% 21.8% 2.6% Q1 2010 2.2% 17.9% 8.2% 15.3% 27.4% 3.6% Q3 2009 4.5% 32.1% 9.1% 17.2% 25.2% 3.5%
53.6% 83.2% 41.9% 11.4% 7.6% 68.2%
51.0% 86.2% 40.1% 10.9% 16.1% 66.2%
54.0% 86.1% 43.6% 9.4% 14.0% 71.2%
59.2% 84.7% 49.8% 10.0% 16.3% 61.5%
9.9% 44.7% 11.8% -1.1% 6.7
9.8% 47.7% 13.1% 2.4% 7.4
7.8% 55.2% 10.6% 5.7% 7.1
11.6% 45.0% 8.8% -1.9% 6.1
18.7% 18.7% 402.8% 55.8% 23.6%
16.4% 16.4% 429.0% 62.6% 23.1%
17.7% 17.7% 441.5% 49.8% 24.0%
17.3% 17.3% 421.6% 36.1% 24.3%
12.5% 1.2% 107.7%
-2.8% 0.8% 106.3%
7.9% 1.0% 107.0%
1.7% 1.0% 104.0%
467 0 467 371,563 26 26 90
417 0 417 419,427 24 6 79
370 0 370 423,046 19 6 60
310 0 310 505,024 14 6 42
December 2010
20
Experienced & Dynamic Management

Individual James Gatera Title Managing Director Background/Experience James has led the bank for the last five years. During which time, he has grown the Banks PBT from RwF 3.797 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 RwF 123.130 million (217%). Lawson has been with the Bank since 2009 and is a qualified accountant & chartered banker. Louis has been with the Bank for over 30 years and holds a Bachelors Degree in Economics. Flora is the Head of Human Resources & Administration Department. She has been with the Bank since 2008. Prior to joining the Bank, 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 of Corporate Affairs Frances has worked with the Bank for over one year. She has over ten years experience in management positions in Public Service with a Masters Degree in Public Administration. Martin has been with the Bank for since 2009 and has wide experience in credit analysis, relationship management & corporate banking. Adolphe has been with the Bank for over 10 years. He held various responsibilities in Retail and Commercial Banking. John has been with the Bank since 2009 and has vast experience in financial services as an audit manager with Deloitte and as a financial consultant in the UK. Innocent has worked with the bank since 2004 and vast experience in credit analysis and management gained from working in the Rwandan banking for over seven years. Alex is the Head of Information and Communication Technology and has been with the Bank since 2009. Prior to joining the Bank, 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. Gerald Nyangezi Head of Internal Audit Gerald heads Internal Audit and Control 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 University Uganda, and Bachelor of Accounting Degree from Transki University Republic of South Africa. He is also a member of Certified Chartered Accountants UK (ACCA) and Institute of Certified Public Accountants Rwanda. 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.
Lawson Naibo Louis Rugerinyange Flora Nsinga
Chief Operating Officer Chief Shared Services Officer Head of HR and Administration
Martin Mulisa
Head of Corporate Banking
Adolphe Ngunga John Bugunya
Head of Retail Banking Head of Finance & Budget
Innocent Musominari
Head of Credit
Alex Ngabonziza
Head of ICT
December 2010
21
Board Of Directors
Individual Lado Gurgenidze Title Chairman Background/Experience Lado Gurgenidze is a career banker who after a decade spent at several investment banks in Eastern Europe and London returned to his native Georgia in 2004 and spearheaded, as Executive Chairman and CEO, a turnaround of Bank of Georgia (LSE: BGEO). During Lados three-year tenure, the banks total assets and net income grew 760% and 1,563%, respectively. As its market share grew from 18% to 34%, Bank of Georgia became the leading universal bank in Georgia and the region with market capitalisation exceeding US$900 million at the time of Lados departure (up from US$30 million at the time of his arrival). Under Lados leadership Bank of Georgia received Euromoney Award for Excellene for three consecutive years (2005-2007) and the Bank of the Year Award by the Banker (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 aggressive privatisation and liberalisation policies. Since he stepped down as Prime Minister, Lado has been a frequent public speaker on issues of economic liberty and free-market reforms in developing countries and co-chairs the Emory Centre for Alternative Investments. In October 2009, he was invited to join, as Chairman, the board of Bank of Kigali, the largest bank in Rwanda. In September 2009, Lado established, together with Dinu Patriciu, Liberty Investments, an investment company focusing on financial services institutions in frontier markets with low corruption, low taxes and open economies. In the same month, Liberty Investments announced the acquisition of a controlling equity interest in Liberty Bank, which has the largest client base in Georgia, serving some 1.2 million clients and a branch network of 183 branches. Since September 2009, under Lados guidance, Liberty Bank has grown total assets, net loans and client deposits by 55.5%, 66.7% and114.3%, respectively. He is a Georgian and British citizen and received his MBA from Goizuetta Business School of Emory University in 1993, following undergraduate studies at Middlebury College and Tbilisi State University. Lado is the only person to have been awarded St Georges Victory Order (in 2008) and the Presidential Order of Excellence (in 2010) the two highest civilian honours in Georgia. Apollo M. Nkunda Director Apollo is a practising lawyer, and a Partner with Trust Law Chambers. Apollo has over ten years experience in legal practice from both the public and private sector. He specialises in banking and finance law, labour law and government procurement. Apollo holds a Masters degree in Business and Trade law from Erasmus University Rotterdam, the Netherlands, and a Bachelors of Law from the National University of Rwanda. He is a member of the Rwanda Bar Association, the East African Law Society, an associate member of the Chartered Institute of Purchasing and Supply, a founding member of the Centre for Arbitration and honorary counsel to the Kigali Golf Club. Perrine Mukankusi Director Perrine is Economic Researcher in Prime Ministers Office with wide experience in planning, monitoring and evaluation. Perrine has held various responsibilities in Public service for over ten years, and was Director for Planning in the Ministry of Justice for over fine years. Perrine holds a Masters degree in Business Administration from the School of Finance and Banking, and a Bachelor of Commerce degree from Kigali Institute of Technology and Management. Alphosine Niyigena Director Alphonsine is chairperson of the Union Investments Corporation (UIC), vice chairperson of the Liberal Professionals Chamber, one of the nine chambers of the Rwanda Private Sector Federation. She serves as Board Member of Motor Guarantee Fund and Rwanda Institute of Administration and Management (RIAM). Alphonsine is the Managing Director of WorldWide Initiatives sarl, a regional consulting firm registered in Rwanda and has conducted national and international consultancies as an independent consultant in the areas of Finance, economic planning and audit. Prior to joining the private sector, Alphonsine served in the Office of Auditor General for 5 years as senior auditor and team leader. Alphonsine holds a Masters Degree in Business Administration majored in Finance from Maastricht University, Netherlands. Dativa Mukeshimana Director Dativa is the Executive Secretary for Duterimbere Asbl, which is a Women Entrepreneurial Association in Rwanda. Dativa has vast experience with programme management and financing of NGOs, and gender related programmes. Dativa holds a Bachelors degree in Economics, majored in money and banking from Kigali Independent University. Sudadi S. Kayitana Director Sudadi is a qualified and practicing professional accountant with technical experience in Insurance industry. He has wide finance and audit experience especially in the Insurance Industry, and the international community 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 of Purchasing and supply (MCIPS). He also holds an Associate degree in Economics from the National University of Rwanda. Marc Holzman Director Marc is Vice Chairman of Barclays Capital. He has considerable international experience in areas of finance and investment, socio economic development and is widely recognised as a leading authority on economic and political developments in emerging markets. Marc also serves as President of The University of Denver with approximately 10,000 students and as Colorados first Secretary of Technology. Marc draws on almost three decades of political and public service in The United States. He holds a Bachelor of Arts Degree in Economics from Lehigh University. 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.
Caleb Rwamuganza
Director
December 2010
22
Rwandan Economy & Banking Sector
Country Profile
Area Population Official Language 26,338 sq km 10,746,311 Kinyarwanda (official), French (official), English (official)
Capital
Currency (code) Nominal GDP (2009E) Nominal GDP Per Capita (2009E) GDP (2009E) PPP (2009E)
Kigali
Rwandan Franc (RwF) US$5.2 billion US$536 US$11.3 billion
GDP Per Capita (2009E) PPP

Real GDP Growth Rate 2009E Inflation Rate (e-o-p) 2009E Inflation Rate (average) 2009E FitchRatings Issuer Default Rating
US$1,150
4.1% 5.7% 10.4% B/Stable
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.
Source: International Monetary Fund, CIA World Factbook
December 2010
24
Rwandan Economy Highlights

Gross Domestic Product
US$ billion
6.0 5.0 4.0 9.2% 3.0 2.0 3.1 1.0 7.7% 4.7 3.7 6.0% 6.0% 4.0% 2.0% 5.2 8.0% 11.6% 14.0% 12.0% 10.0%
GDP Per Capita

US$
1,400 1,200 1,000 800 600 400 200 333 392 517 942 1,002 1,114
1,150
477
2006 2007 2008 2009
0.0%
2006 2007 2008 2009
Nominal GDP (LHS)
Real GDP Growth Rate (RHS)
Nominal GDP Per Capita
GDP Per Capita (PPP)
GDP Composition
YE 2006 YE 2009
US$
25.0% 20.0%
Other, 18.3% Other, 21.0% Education, 4.4%
Public Administration, 5.0%
Inflation
22.3%
15.4% 15.0%
Agriculture, 33.8% Education, 4.7% Public Administration, 4.3% Finance, Insurance, 2.1% Transport & Communication, 7.5% Wholsesale & Retail Trade, 13.0% Manufacturing, 6.4% Construction, 7.3%
Agriculture, 38.4%
12.1% 10.0% 8.9% 5.0% 9.1% 10.3%
Finance, Insurance, 2.9%
6.6%
5.7%
Transport & Communication, Wholsesale & 6.8% Retail Trade, 11.2%
0.0%
2006 2007 2008 2009
Construction, 6.1%
Manufacturing, 6.8%
Inflation (e-o-p)
Inflation (period average)
Source: National Institute of Statistics of Rwanda; International Monetary Fund
December 2010
25
Rwandan Banking Sector

Timeline Of Foreign Investment
2004
2005
2006
2007
2008
2009
December 2010
26
Rwandan Banking Sector Highlights

RwF mln, unless otherwise noted
Banking Sector Assets 2006 360,762 2007 468,735 2008 516,158 2009 579,520 9M 2010 644,270
Banking Sector Assets As % Of GDP

Banking Sector Loans
21.0%
177,091
22.9%
218,384
20.1%
295,870
19.6%
287,998
n.a.
306,512
Banking Sector Loans As % Of GDP

Banking Sector Deposits
10.3%
279,715
10.7%
365,379
11.5%
381,926
9.7%
422,958
n.a.
481,029
Banking Sector Deposits As % Of GDP

Banking Sector Equity
16.3%
34,244
17.8%
51,311
14.9%
71,322
14.3%
69,256
n.a.
87,992
Banking Sector Equity As % Of GDP

Banking Sector ROA, % Banking Sector ROE, %
2.0%
1.7% 18.4%
2.5%
1.9% 16.9%
2.8%
2.0% 14.7%
2.3%
1.3% 10.5%
n.a.
1.6% 11.6%
Banking Sector Assets & ROA

RwF mln
700,000 600,000 500,000 400,000 1.5% 2.5%
Banking Sector Equity & ROE

RwF mln
100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 2006 2007 2008 2009 9M 2010 20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0%
2.0%
300,000
200,000 100,000 0 2006 2007 2008 2009 9M 2010
1.0%
0.5% 0.0%
Banking Sector Assets (LHS)
Banking Sector ROA, % (RHS)
Banking Sector Equity (LHS)
Banking Sector ROE, % (RHS)
Source: International Monetary Fund, National Bank of Rwanda
December 2010
27
Rwandan Banking Sector Highlights Contd

8 licensed commercial banks
Rank Total Assets Loans Deposits Equity
27%
30%
26%
26%
2 BCR
19%
25%
20%
22%
14%
BCR
11%
BCR
14%
12%
10%
9%
10%
10%
9%
COGEBANK
8%
10%
10%
6 COGEBANK
8%
7%
8%
ACCESS
8%
8%
ACCESS
6%
COGEBANK
7%
7%
8
Source: National Bank of Rwanda
5%
KCB
3%
5%
KCB
6%
December 2010
28

Market Share By Total Assets, September 2010
+14%
30.0% 26.9% 26.6% 25.0%
+14%
+2%
+5%
+0.01%
+22%
+6%
+89%
Growth, YTD Sep '10
20.0%
19.0% 19.4%
15.3%
15.0% 13.9%
10.7% 10.0%
10.1%
9.3% 8.3% 8.0%
8.8%
8.3%
7.9% 4.7%
5.0%
2.8% YE 2009
0.0% Bank of Kigali UBPR BCR Ecobank Access Cogbank FINA KCB
Sep-10
Market Share By Loans, September 2010

35.0%
+21%
30.3%
+10%
-15%
+13%
-27%
-8%
-0.3%
+175%
Growth, YTD Sep '10
30.0% 26.8% 25.0% 23.8% 24.6%
20.0%
15.0%
11.7%
10.0%
9.3%
10.1%
10.6%
9.0% 6.1%
8.5% 7.3%
8.8%
8.2%
5.0%
3.4% 1.3% YE 2009 Sep-10 Bank of Kigali UBPR BCR Ecobank Access Cogbank FINA KCB
0.0%
December 2010
29

Market Share By Total Deposits, September 2010
+15%
30.0%
+11%
+5%
+4%
+7%
+16%
+0.2%
+211%
Growth, YTD Sep '10
26.3% 25.7% 25.0%
20.3% 19.9%
20.0%
15.3% 15.0% 14.1%
10.6% 10.0% 9.8%
10.3%
9.8%
7.5%
7.7%
8.4%
7.5% 5.0%
5.0% 1.8% 0.0% Bank of Kigali UBPR BCR Ecobank Access Cogbank FINA KCB YE 2009 Sep-10
Market Share By Equity, September 2010

+7%
30.0%
+30%
+19%
-2%
+8%
+7%
+5%
+8%
Growth, YTD Sep '10
25.7% 25.0% 24.3% 21.8% 20.0% 19.4%
15.0%
11.7%
12.1%
12.2%
10.4% 10.0% 6.7% 5.0% 6.3%
10.3%
9.6%
8.5%
7.7%
6.9%
6.5%
YE 2009 0.0% Sep-10 Bank of Kigali UBPR BCR Ecobank Access Cogbank FINA KCB
December 2010
30
Contact Details
Lado Gurgenidze Chairman of the Board of Directors lg@libertycapital.ge
James Gatera Managing Director +225 252 593 121 jgatera@bk.rw
Lawson Naibo Chief Operating Officer +225 788 302 076 lnaibo@bk.rw Frances Ihogoza Head of Corporate Affairs Company Secretary +250 252 593 100 fihogoza@bk.rw
December 2010
31
Caution Regarding Forward-Looking Statements

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 markets in 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 forwardlooking statements whether as a result of new information, future events, or otherwise. Performance indicators are derived from our audited financial statements.
December 2010
32
Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results
December 2010
33
Bank Of Kigali Announces Q3 2010 & 9M 2010 Audited Results Contd
December 2010
34
December 2010
35
December 2010
36
December 2010
37
December 2010
38
December 2010
39
December 2010
40
December 2010
41
Bank Of Kigali Receives The Bank of The Year 2010 Award By The Banker And The Best Bank Award By emeafinance magazine
December 2010
42
Bank Of Kigali Announces That It Has Been Rated A+ By Global Credit Rating Co.
December 2010
43
Bank of Kigali Announces Q2 2010 Results
December 2010
44
Bank of Kigali Announces Q2 2010 Results Contd
December 2010
45
December 2010
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December 2010
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December 2010
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December 2010
49
December 2010
50
December 2010
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December 2010
52
Bank of Kigali Announces Q1 2010 Results
December 2010
53
December 2010
54
December 2010
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December 2010
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December 2010
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December 2010
58
December 2010
59

Bank of Kigali 2010 9M 2010 Results Update

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BANQUE DE KIGALI S.A.

Your trusted partner in wealth creation

Bank of Kigali Q3 2010 Results Overview

About Bank of Kigali

The Leading Bank In Rwanda

Market Share Evolution

Growing Faster Than The Banking Sector

Bank of Kigali Q3 2010 Results Overview

Banking Sector Potential

High Barriers To Entry

Universal Banking Strategy Driving Profitable Growth

Transparency And Good Governance

Sound and Balanced Business Model

Bank of Kigali Q3 2010 Results Overview

Bank of Kigali Key Figures

RwF/US$ exchange rate (e-o-p)

Bank of Kigali Q3 2010 Results Overview

Bank of Kigali Development Milestones

Number of WesternTrained Professionals Key Business Lines

Credit Rating Key Lenders

Discussions with several IFIs underway

Note: growth rates based on RwF values

Bank of Kigali Q3 2010 Results Overview

Bank of Kigali Branch Network

2006 Number of branches 9

Bank of Kigali Q3 2010 Results Overview

Q3 2010 Financial Highlights

100,000 80,000 60,000 40,000 20,000 69,453

100,000 50,000 30-Sep-09

35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0%

30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10

Total Assets (LHS)

Market Share By Total Assets (RHS)

Net loans (LHS)

Market Share By Net Loans (RHS)

25,000 20,000 15,000 10,000 5,000

15.0% 10.0% 5.0% 0.0%

30-Sep-09 YE 2009 31-Mar-10 30-Jun-10 30-Sep-10

16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0%

Client Deposits (LHS)

Market Share By Client Deposits (RHS)

Shareholders' Equity (LHS) Shareholders' Equity/Total Assets (RHS)

Bank of Kigali Q3 2010 Results Overview

Q3 2010 Financial Highlights Contd

Client Balances & Deposits

Bank of Kigali Q3 2010 Results Overview

Q3 2010 Financial Highlights Contd

Composition of Total Liabilities, RwF mln

6,392 77,096 64,790

Cash & Equivalents

Composition of Total Assets, %

Composition of Total Liabilities, %

60.0% 40.0% 20.0% 0.0% 85.2% 83.6% 84.6% 83.1% 83.7%

31-Mar-10 30-Jun-10 30-Sep-10

30-Sep-09 Other Liabilties

Bank of Kigali Q3 2010 Results Overview

9M 2010 Financial Highlights Contd

Total Recurring Operating Costs

Heavy investment in branch network expansion, +157 FTE's

Profit Before Provisions

Bank of Kigali Q3 2010 Results Overview

9M 2010 Financial Highlights Contd

Net Fee & Commission Income