Its acquisition of two banks in Rwanda and Tanzania has pushed its total asset base to over $10 billion.
Covid-19 pandemic has amplified this vulnerability with debt-to-GDP ratios exceeding 50 percent.
Due to the pandemic, RwandAir was forced to suspend operations following the lockdown in March.
Considering the quarterly performance of the banks, the prospects for full recovery this year remain weak.
This has been attributed mainly to the impact of the Covid-19 pandemic.