I&M Bank Rwanda Plc., 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 ...

that is licensed 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 ...

. It is the second largest bank in Rwanda.

Location

The headquarters of the bank are located at KN 03 Avenue 9, in the

central business district A central business district (CBD) is the commercial and business centre of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city ...

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 ...

, Rwanda's capital and largest city. The geographical location of the bank's headquarters are:01°56'55.0"S, 30°03'41.0"E (Latitude:-1.948611; Longitude:30.061389).

Overview

The Bank is the second-largest sized commercial bank in Rwanda, behind

Bank of Kigali Bank of Kigali (BK) is a commercial bank in Rwanda. It is licensed by the National Bank of Rwanda. Location The headquarters and main branch of the bank are located at 6112 KN4 Avenue, in Nyarugenge District, in the city of Kigali, the capital a ...

, serving large corporations, small-to-medium businesses, and individuals. As of December 2020, the bank's total assets were valued at RWF 417.2 billion (approx. US$424.46 million), with shareholders' equity of RWF 54.48 billion (approx. US$55.42 million).

History

The bank was opened in 1963 under the name (

French French (french: français(e), link=no) may refer to: * Something of, from, or related to France ** French language, which originated in France, and its various dialects and accents ** French people, a nation and ethnic group identified with Franc ...

"Banque Commerciale du Rwanda" (BCR)) or "Commercial Bank of Rwanda". In the beginning, it was wholly owned by the

Government of Rwanda The politics of Rwanda reflect Belgian and German civil law systems and customary law takes place in a framework of a semi-presidential republic, whereby the President of Rwanda is the head of state with significant executive power, with the Pr ...

. In 2004, it was privatized. As of April 2010,

Actis Capital Actis is a global investment firm focused on the private equity, energy, infrastructure, and real estate asset classes. Actis is a signatory to the United Nations Principles for Responsible Investment (UNPRI), an investor initiative developed b ...

owned 80 percent and the Rwandan government owned the remaining 20 percent of the financial institution. Actis Capital is a private equity investment firm, headquartered in London, United Kingdom, that specializes in investments in

developing countries A developing country is a sovereign state with a lesser developed industrial base and a lower Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreem ...

. The firm's investment portfolio was almost US$5 billion as of April 2010. In July 2012, Actis Capital divested from BCR by selling its shares to a consortium comprising the I&M Bank Group from Kenya, PROPARCO from France, and the

German Investment Corporation Deutsche Investitions- und Entwicklungsgesellschaft (DEG) is a Development Finance Institution (DFI) and a subsidiary of KfW Group. It was founded in Cologne in September 1962 as a federally owned company by the former Federal President Walter ...

. The Rwandan government retained its shares in the bank. In August 2013, the bank rebranded to I&M Bank (Rwanda) to reflect its current shareholding. In September 2015, I&M Bank Rwanda appointed its current Managing Director - Robin Bairstow. In March 2017, I&M Bank Rwanda started trading on the

Rwanda Stock Exchange The Rwanda Stock Exchange Limited was incorporated on 7 October 2005 with the objective of carrying out stock market operations. The Stock Exchange was demutualized from the start as it was registered as a company limited by shares. The company ...

through an

Initial Public Offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

I&M Bank Group

I&M Bank (Rwanda) is a member of the I&M Bank Group of companies. The group is a leading financial services provider in

East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territories make up Eastern Africa: Due to the historical ...

, with an asset base in excess of US$3.14 billion (KSh324.3 billion) as of September 2019. The group has operations in Kenya, Mauritius, Rwanda, and Tanzania.

Ownership

, the bank's

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 ...

was owned by the entities listed in the table below.

Branch network

] I&M Bank Rwanda maintains the following branches, as of March 2020: # Head Office - KN 03 Avenue 9,

Nyarugenge Nyarugenge is a sector (''umurenge'') located in Nyarugenge District, Kigali Province, Rwanda. Location It is located in the southwest part of the city of Kigali. The coordinates of Nyarugenge Sector are:1°58'02.0"S, 30°03'20.0"E (Latitude:-1 ...

# Kigali Heights - Kigali Heights Building,

Gasabo Gasabo is a Districts of Rwanda, district, (''akarere'') in Kigali, Kigali city, the capital of Rwanda. The headquarter of Gasabo is located in Remera Sector. The district also includes large areas of the city itself, including Kacyiru, Kimironko, ...

# Remera Branch - Umuyenzi Plaza, Gasabo District, Kisimenti, Remera,

# Nyamirambo Branch - Merez 2 Petrol Station,

Nyamirambo Nyamirambo is a Sectors of Rwanda, sector (umurenge) in Districts of Rwanda, Nyarugenge District, Kigali Province, Rwanda, Kigali Province, Rwanda. Location It is located in the southwest part of the city of Kigali. The coordinates of Nyamirambo ...

, Rwezamenyo Sector, Nyarugenge District,

# Nyabugogo Branch - Inkundamahoro Building, Nyabugogo Sector, Nyarugenge District,

# Kigali City Market Branch - Kigali City Market Building, Nyarugenge, Kigali # Chic Branch - CHIC Building, Downtown Nyarugenge, Kigali # Musanze Branch - Muhoza Sector,

Musanze Musanze is a district in the Northern Province of Rwanda. Its capital city is Ruhengeri. Geography and tourism Musanze is Rwanda's most mountainous district, containing the largest part of the Volcanoes National Park, and its head office at Ki ...

, Northern Province, Rwanda # Gicumbi Branch - Byumba Sector,

Byumba Byumba is a city in northern Rwanda, and is the capital of Gicumbi District. It is home to an SOS Children's Village. The city lies about , north of the capital Kigali. This location lies approximately , south of the International border with Uga ...

Gicumbi District Gicumbi is a district (''akarere'') in Northern Province, Rwanda. Its capital is Byumba, which is also the provincial capital. Geography The district lies due-north of Kigali, straddling the major road from Kigali to Kampala. It is a hilly dis ...

, Northern Province, Rwanda # Rubavu Branch - Gisenyi Sector,

Rubavu District Rubavu District is one of the seven districts of the country district (''akarere'') in Western Province, Rwanda. Its capital is Gisenyi, It has a large beach resort and border city. It has a total surface area of 388.3 Km2. Geography The distri ...

Western Province Western Province or West Province may refer to: *Western Province, Cameroon *Western Province, Rwanda *Western Province (Kenya) *Western Province (Papua New Guinea) *Western Province (Solomon Islands) *Western Province, Sri Lanka *Western Provinc ...

, Rwanda # Rusizi Branch - Kamembe Sector,

Rusizi District Rusizi is a district (''akarere'') in Western Province, Rwanda. Its capital is Cyangugu, the major city of the Rwandan south-west and the district contains large parts of the former Cyangugu Province. Geography, flora and fauna The district lie ...

, Western Province, Rwanda # Karongi Branch - RSSB Building,

Karongi Karongi is a district (''akarere'') in Western Province, Rwanda. The capital being Rubengera, the district also contains Kibuye, the provincial capital and a major Rwandan lakeside resort. It is one of the districts with the least population den ...

# Huye Branch - Ngoma Sector, Huye, Southern Province # Rwamagana Branch - Kigabiro Sector,

Rwamagana Rwamagana is a city and capital of both the Rwamagana District and the Eastern Province in Rwanda Description Rwamagana lies approximately from Kigali, on the newly renovated road leading east towards Tanzania. There was formerly a large amo ...

, Eastern Province, Rwanda.

References

External links

I&M Bank (Rwanda) Website

I&M Bank Rwanda 2013 Half Year Profits Increase By 80%
{{DEFAULTSORT:IandM Bank (Rwanda) Banks of Rwanda Banks established in 1963 1963 establishments in Rwanda Organisations based in Kigali Economy of Kigali I&M Bank Group