BANQUE DE KIGALI S.A.

Your trusted partner in wealth creation

Kigali, 29 July 2010
562.3 RwF/US$ Period End Exchange Rate as at 31 March 2010 560.2 RwF/US$ Period End Exchange Rate as at 31 December 2009 558.8 RwF/US$ Period End Exchange Rate as at 31 March 2009

Bank of Kigali Announces Q1 2010 Audited Results Q1 2010 US$ 8.2 3.6 4.6 2.1 1.5 Change Q-o-Q 16% 26% 9% 221% -35% Change YTD 2% 10% 4% 4% -9%

Millions, unless otherwise noted Total Operating Income (Revenue) Total Recurring Operating Costs Profit Before Provisions Net Provision Expense Net Income (Loss)

RwF 4,595 2,038 2,557 1,203 850

Y-o-Y 29% 64% 10% 785% -39%

Total Assets Net Loans Client Deposits Total Liabilities Shareholders' Equity

As at 31 March 2010 US$ RwF 278.4 156,527 150.3 84,517 202.2 113,727 243.9 137,137 34.5 19,390 As at 31 March 2010 54.0% 74.3% 7.8% 75.6% 2.2% 16.8%

Y-o-Y 27% 18% 30% 30% 11%

Net Loans/Total Assets Net Loans/Client Deposits NPLs/Gross Loans NPL Coverage Ratio ROAA, annualised ROAE, annualised

As at 31 December 2009 50.4% 70.5% 7.1% 58.3% 3.8% 26.9%

Bank of Kigali (the Bank), the leading bank in Rwanda, announced today its audited, non-IFRS results, reporting Net Income of RwF 850 million (US$1.5 million) in Q1 2010. Total Operating Income (Revenue) reached RwF 4,595 million in Q1 2010, up 16.0% q-o-q and 28.5% y-o-y. Net Fee & Commission Income amounted to RwF 191 million in Q1 2010, up 202.7% q-o-q and 310.6% y-o-y. Net Interest Income equalled RwF 2,770 million in Q1 2010, up 7.7% q-o-q and 17.9% y-o-y. Total Recurring Operating Costs grew by 25.9% q-o-q and 63.8% y-o-y to RwF 2,038 in Q1 2010. Cost/Income ratio reached 46.8% in Q1 2010, up from 40.9% in Q4 2009 and 34.8% in Q1 2009. Annualised ROAA reached 2.2% in Q1 2010, whereas annualised ROAE equalled 16.8% in Q1 2010.

About Bank of Kigali Established in 1966, Bank of Kigali is the largest bank in Rwanda by total assets, with a 27% market share as of 31 December 2009 The Bank today has 24 branches in Rwanda and provides commercial banking services to approximately 35,856 individuals and 3,549 legal entities. For further information, please visit www.bk.rw or contact: Frances Ihogoza Head of Corporate Affairs/Company Secretary Tel: +250 252 593 100 or +250 252 593 200 Fax: +250 252 575 504 or +250 252 573 461 Email: fihogoza@bk.rw SWIFT: BKIGRWRW R.C. A 019 Kigali TIN n 10.000.3458 B.P. 175 - KIGALI Parcelle 6112, Avenue de la Paix Kigali (Rwanda)

BANQUE DE KIGALI S.A.

Your trusted partner in wealth creation
Kigali, 29 July 2010

Total Assets grew by 2.3% q-o-q and 26.9% y-o-y, reaching RwF 156,527 million as at 31 March 2010. Net Loans grew by 9.6% q-o-q (18.1% y-o-y) and amounted to RwF 84,517 million as at 31 March 2010. Client Deposits reached RwF 113,727 million, up 4.1% q-o-q and 29.5% y-o-y. Net Loans/Total Assets ratio stood at 54.0% as at 31 March 2010 vs. 50.4% as at YE 2009 and 58.0% as at 31 March 2009. Net Loans/Client Deposits ratio reached 74.3% as at 31 March 2010 vs. 70.5% as at YE 2009 and 81.5% as at 31 March 2009. I am pleased that the Bank is growing its balance sheet especially in the loans and deposits. Although the growth will assert pressure on profitability, I am particularly pleased with the growth achieved in our Net Fee and Commission Income, commented James Gatera, Chief Executive Officer.
Q1 2010 Performance Highlights Total Operating Income
RwF millions 5,000 4,500 4,595 RwF millions 2,500 2,038

Recurring Operating Costs

4,000 3,500
3,000 2,500 2,000 1,500 1,000 500 -

3,962
3,577

2,000
1,620 1,500 1,000 500 -

1,244

Q1 2009

Q4 2009

Q1 2010

Q1 2009

Q4 2009

Q1 2010

Net Income
RwF millions 1,600 1,400 1,200 1,000 800 600 850 1,382 RwF millions 180,000

Total Assets
156,527

1,296

160,000 140,000 120,000 100,000 80,000 60,000 123,316

153,022

400 200
Q1 2009 Q4 2009 Q1 2010

40,000 20,000
Q1 2009 Q4 2009 Q1 2010

Net Loans
RwF millions 90,000 80,000 70,000 60,000 50,000 40,000 30,000 77,096 71,550 100,000 80,000 60,000 40,000 87,818 84,517 RwF millions 120,000

Client Deposits
109,282 113,727

20,000 10,000
Q1 2009 Q4 2009 Q1 2010

20,000
Q1 2009 Q4 2009 Q1 2010

BANQUE DE KIGALI S.A.

Your trusted partner in wealth creation
Kigali, 29 July 2010

Q1 2010 INCOME STATEMENT

Q1 2010 RwF millions, unless otherwise noted Interest Income Interest Expense Net Interest Income Fee & Commission Income Fee & Commission Expenses Net Fee & Commission Income Income From Documentary Operations Expense On Documentary Operations Net Income From Documentary Operations Other Non-Interest Income Other Non-Interest Expense Net Other Non-interest Income FX Trading Income Net Non-Interest Income Total Operating Income Overseas Directors Remuneration Local Directors Remuneration Personnel Costs Other Operating Expenses Depreciation Total Recurring Operating Costs Profit Before Provisions Loan Loss Provisions & Provision On Other Assets Gains On Asset Sale & Recovery Net Provisions Net Profit Before Tax Bonuses (Paid & Accrued) Accrued Or Paid Income Tax Net Income US$ 6.8 1.9 4.9 0.3 0.3 0.1 RwF 3,816 1,047 2,769 191 191 48 US$ 6.1 1.5 4.6 0.2 0.2 0.1 RwF 3,395 853 2,542 92 92 48 US$ 5.1 1.0 4.1 0.1 0.1 0.1 RwF 2,923 595 2,328 69 69 48 Q4 2009 Q1 2009 Q-o-Q Change 12.4% 27.1% 7.7% 107.7% NMF 202.7% 1.0% NMF 1.0% 11.8% NMF 16.5% 28.2% 31.3% 16.0% -37.6% -74.5% 83.1% -8.8% -8.1% 25.9% 9.1% 17.1% NMF 221.0% -31.2% -13.6% -27.6% -34.5% Y-o-Y Change 30.60% 82.60% 17.90% 177.30% NMF 310.60% -0.10% NMF -0.10% 20.50% NMF 23.70% 50.40% 48.70% 28.50% NMF 70.60% 90.10% 42.70% 19.80% 63.80% 9.60% 53.2% NMF 785.2% -38.4% -13.9% -42.8% -38.5%

0.1 1.0 1.0 1.9 3.3 8.2 2.0 1.2 0.4 3.6 4.6 2.1 2.1 2.4 0.2 0.7 1.5

48 541 541 1,046 1,826 4,595 18 1 1,139 672 208 2,038 2,557 1,203 1,203 1,354 114 390 850

0.1 0.9 0.9 1.5 2.7 7.3 0.1 1.1 1.3 0.4 2.9 4.4 1.8 1.2 0.7 3.5 0.2 1.0 2.3

48 484 19 465 815 1,420 3,962 29 6 622 737 226 1,620 2,342 1,027 652 375 1,967 132 539 1,296

0.1 0.8 0.8 1.2 2.2 6.3 1.1 0.8 0.3 2.2 4.1 1.4 1.1 0.2 3.9 0.2 1.2 2.4

48 449 12 437 695 1,249 3,577 1 599 471 173 1,244 2,333 785 649 136 2,197 132 682 1,383

Notes: (1) Growth calculations are based on RwF values (2) US$ values have been derived from period-end RwF/US$ exchange rates set out on page 1 of this news report

BANQUE DE KIGALI S.A.

Your trusted partner in wealth creation
Kigali, 29 July 2010

Q1 2010 BALANCE SHEET

Q1 2010 RwF millions, unless otherwise noted Cash Balances With BNR Cash Balances With Banks Treasuries Other Fixed Income Instruments Gross Loans Net Loans To Clients Net Investments Net Property, Plant & Equipment Net Intangible Assets Net Other Assets Total Assets Interbank Deposits Client Deposits Borrowed Funds Payable Interest & Dividends Other Liabilities Total Liabilities Ordinary Shares Retained Earnings Revaluation Reserve Net Income Shareholder's Equity Total liabilities & Shareholders' Equity US$ 9.2 7.9 43.9 31.0 14.5 159.0 150.3 0.6 11.4 0.1 9.6 278.4 21.0 202.2 4.7 15.9 243.9 8.9 24.1 1.5 34.5 278.4 RwF 5,148 4,430 24,686 17,410 8,158 89,410 84,517 340 6,386 45 5,407 156,527 11,812 113,727 2,643 8,954 137,137 5,005 13,535 850 19,390 156,527 US$ 8.3 6.1 3.7 75.7 22.0 144.5 137.6 0.6 11.4 0.1 7.9 273.2 27.0 195.1 13.3 235.4 8.9 26.6 2.3 37.8 273.2 RwF 4,624 3,399 2,066 42,389 12,313 80,914 77,096 340 6,358 34 4,404 153,022 15,104 109,282 7,452 131,838 5,005 14,882 1,297 21,184 153,022 US$ 7.7 10.6 6.8 38.4 7.9 138.0 125.5 0.6 10.3 0.0 8.6 216.3 19.9 154.0 11.8 185.7 8.8 19.1 2.7 30.5 216.3 RwF 4,369 6,033 3,883 21,889 4,495 78,671 71,550 340 5,847 15 4,895 123,316 11,341 87,818 6,744 105,904 5,005 10,892 1,515 17,412 123,316 Q4 2009 Q1 2009 YTD Change 11.3% 30.3% 1094.9% -58.9% -33.7% 10.5% 9.6% 0.0% 0.4% 32.6% 22.8% 2.3% -21.8% 4.1% NMF NMF 20.2% 4.0% 0.0% -9.0% NMF -34.5% -8.5% 2.3% Y-o-Y Change 17.8% -26.6% 535.7% -20.5% 81.5% 13.7% 18.1% 0.0% 9.2% 195.5% 10.5% 26.9% 4.2% 29.5% NMF NMF 32.8% 29.5% 0.0% 24.3% NMF -43.9% 11.4% 26.9%

Notes: (1) Growth calculations are based on RwF values (2) US$ values have been derived from period-end RwF/US$ exchange rates set out on page 1 of this news report

BANQUE DE KIGALI S.A.

Your trusted partner in wealth creation
Kigali, 29 July 2010

KEY RATIOS Profitability Return On Average Assets, Annualised,% Return On Average Equity, Annualised, % Net Interest Margin, Annualised, % Loan Yield, Annualised, % Interest Expense/Interest Income, % Cost Of Funds, Annualised, % Net Fee & Commission Income/Total Operating Income, % Net Fee & Commission Income/Average Total Assets, % Annualised Net Non-Interest Income/Total Operating Income,% Efficiency Cost To Income, % Cost/Average Total Assets, Annualised Overhead to Total Operating Income Personnel Costs/Average Total Assets, %, Annualised Personnel Costs/Total Recurring operating costs, % Personnel Costs/Total Operating Income, % Net Income/Total Operating Income, % Liquidity Net Loans/Total Assets,% Average Net Loans/Average Total Assets, % Net Loans/Client Deposits, % Average Net Loans/Average Client Deposits, % Net Loans/Total Deposits, % Net Loans/Total Liabilities, % Time Deposits/Client Deposits,% Current Account Balances/Client Deposits, % Client Deposits/Total Deposits,% Interest Earning Assets/Total Assets,% Average Interest Earning Assets/Average Total Assets,% Liquid Assets/Total Assets,% Liquid Assets/Total Liabilities,% Client Deposits/Total Assets,% Total Deposits/Total Assets Total Deposits/Total Liabilities,% Client Deposits/Shareholders' Equity (Times) Short-Term Liquidity Gap Liquid Assets / Total Deposits Interbank Borrowings / Total Deposits BNR Borrowings / Total Deposits Gross Loans / Total Deposits Q1 2010 2.2% 16.8% 10.0% 17.9% 27.4% 3.1% 4.1% 0.5% 39.7% Q1 2010 46.8% 5.6% 36.5% 3.0% 56.84% 25.21% 18.50% Q1 2010 54.0% 52.2% 74.3% 72.5% 67.3% 61.6% 24.0% 1.4% 90.6% 86.1% 87.5% 33.01% 36.65% 72.66% 80.20% 91.54% 5.9 14.0% 66.0% 9.41% 0.0% 71.22% Q4 2009 3.8% 26.9% 9.7% 17.0% 24.3% 2.8% 1.6% 0.2% 35.1% Q4 2009 40.9% 4.7% 32.4% 1.9% 40.5% 16.6% 32.7% Q4 2009 50.4% 53.8% 70.5% 75.4% 62.0% 58.5% 27.4% 1.3% 87.9% 87.5% 88.5% 34.29% 43.1% 71.4% 81.3% 94.3% 5.2 29.6% 73.0% 12.1% 0.0% 65.1% Q1 2009 4.5% 33.2% 9.9% 14.8% 19.6% 2.2% 1.3% 0.2% 34.3% Q1 2009 34.8% 4.1% 26.7% 2.0% 48.2% 16.8% 38.6% Q1 2009 58.0% 58.6% 81.5% 79.4% 72.2% 67.6% 25.4% 0.0% 88.6% 82.6% 90.1% 29.33% 28.6% 71.2% 80.4% 93.6% 5.0 16.0% 63.8% 11.4% 0.0% 79.3%

BANQUE DE KIGALI S.A.

Your trusted partner in wealth creation
Kigali, 29 July 2010

KEY RATIOS CONTINUED Asset Quality NPLs / Gross Loans, % Provisions / NPLs Fixed Assets / Core Capital Large Exposures / Gross Loans Shareholders' Equity/Net Loans, % Cost Of Risk, Annualised, % Leverage (Total Liabilities/Equity), Times Capital Adequacy Core Capital / Risk Weighted Assets Total Qualifying Capital / Risk Weighted Assets Off Balance Sheet Items / Total Qualifying Capital Large Exposures / Core Capital NPLs Provisions / Core Capital Market Sensitivity Forex Exposure / Core Capital Forex Loans / Forex Deposits Forex Assets / Forex Liabilities Selected Operating Data Full Time Employees (FTEs) Assets per FTE (RwF 000s) Number of Active Branches Number of ATMS Number of POS Terminals Q1 2010 7.78% 75.56% 33.9% 12.4% 22.94% 5.65% 7.1 Q1 2010 17.7% 17.7% 441.5% 58.5% 24.0% Q1 2010 7.9% 1.0% 104.4% Q1 2010 370 423,046 19 6 60 Q4 2009 7.1% 58.3% 35.4% 12.3% 27.5% 1.9% 6.2 Q4 2009 16.9% 16.9% 425.8% 55.3% 17.7% Q4 2009 -5.4% 0.9% 97.3% Q4 2009 303 505,024 19 6 54 Q1 2009 11.7% 77.6% 35.5% 12.7% 24.3% 0.7% 6.1 Q1 2009 15.7% 15.7% 443.4% 60.3% 33.0% Q1 2009 0.3% 0.9% 100.2% Q1 2009 318 387,787 12 6 42

BANQUE DE KIGALI S.A.

Your trusted partner in wealth creation
Kigali, 29 July 2010

Ratio Definitions 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Return On Average Total Assets (ROAA) equals Net Income of the period divided by average Total Assets for the same period; Return On Average Total Equity (ROAE) equals Net Income of the period divided by average Total Shareholders Equity for the same period; Average Interest Earning Assets are calculated on a quarterly basis; Interest Earning Assets include: Cash & Balances With Banks, Treasuries and Net Loans To Clients; Net Interest Margin equals Net Interest Income of the period divided by Average Interest Earning Assets for the same period; Loan Yield equals Interest Income of the period divided by average Gross Loans for the same period; Cost Of Funds equals Interest Expense of the period divided by average Total Liabilities for the same period; Total Operating Income includes Net Interest Income and Non-Interest Income; Cost/Income equals Total Recurring Operating Costs plus Net Non-Recurring Costs of the period divided by Total Operating Income; Client Deposits include Corporate and Retail deposits; Total Deposits include Interbank Deposits and Client Deposits; Shareholders Equity equals to Total Shareholders Equity; NPLs are loans overdue by more than 90 days; NPL Coverage ratio equals Loan Loss Reserve as of the period end divided by NPLs as of the same date; Cost Of Risk equals Net Provision For Loan Losses of the period, plus provisions for (less recovery of) other assets, divided by average Gross Loans To Clients for the same period; Total Capital Adequacy equals Total Capital as of the period end divided by Total Risk Weighted Assets as of the same date, both calculated in accordance with the requirements of the National Bank of Rwanda.