Bank of Africa Rwanda Limited also BOA Rwanda, formerly known as Agaseke Bank, is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

Rwanda Rwanda (; rw, u Rwanda ), officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of Central Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator ...

. The bank is one of the licensed banks in the Republic of Rwanda. The bank is a growing financial services provider in Rwanda. As of December 2012, its total assets were valued at approximately US$14.6 million (RWF:9.2 billion).December 2012 Financial Data
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History

BOA Rwanda was formed in November 2003 as Centre Financier aux Entrepreneurs Agaseke (CFE SA Agaseke) with the aim of providing financial services to small and medium-sized businesses. On 14 December 2010, the shareholders adopted a resolution to convert CFE SA Agaseke to a microfinance bank and adopted the name Agaseke Bank. The bank was granted a banking license by the

National Bank of Rwanda The National Bank of Rwanda ( rw, Banki Nkuru Y'u Rwanda, french: Banque Nationale du Rwanda) is the central bank of Rwanda. The bank was founded in 1964. The current governor of the bank is John Rwangombwa. Location It is quartered at the N ...

, the national banking regulator, in 2011 and commenced commercial banking services in the same year. On October 15, 2015, the

Bank of Africa Group Bank of Africa (BOA) is a Moroccan banking conglomerate headquartered in Casablanca, Morocco, with banking operations in Morocco and eighteen other African countries. Its main predecessor entities started in 1959 in Morocco and in 1982 in Mali. ...

announced its acquisition of a 90% stake in Agaseke Bank. This led to Agaske Bank changing its name to Bank of Africa Rwanda Limited and conversion to a commercial bank.

Ownership

The

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

of the bank is privately owned by institutional and individual investors. , the shareholding in the bank is as depicted in the table below:

Branches

As of August 2017, the bank maintained the following interlinked branches. (1) Main Branch, Ground Floor, Chic Complex, Nyarugege,

Kigali Kigali () is the Capital (political), capital and largest city of Rwanda. It is near the nation's geographic centre in a region of rolling hills, with a series of valleys and ridges joined by steep slopes. As a primate city, Kigali has been Rwa ...

(2) Kayonza Branch (3) Gizozi Branch, Umukindo House,

(4) Muhanga Branch (5) Rusizi Branch (6) Rubavu Branch (7) Musanze Branch (8) Huye Branch (9) Nyabugogo Branch (10) Remera Branch (10) Gikondo Branch (11) Kamironko Branch (12) Nyarugege Branch, KIC House, Kigali (12) Soras Outlet, Kakuyu Street, Kigali and (13) Kabuga Branch.

References

External links

Moroccan investors gain access to Rwanda market through local firms

Website of Rwanda National Bank
{{Economy of Rwanda Banks of Rwanda Banks established in 2003 2011 establishments in Rwanda Organisations based in Kigali Economy of Kigali

History

Ownership

Branches

See also

References

External links