NCBA Bank Rwanda, formerly ''Commercial Bank of Africa (Rwanda)'', 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 ...

. NCBA Bank Rwanda is one of the Kenyan-owned bank subsidiaries to launch operations in Rwanda. The bank is a subsidiary of the NCBA Group Plc, a financial services group with headquarters in

Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...

Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

, with subsidiaries in

Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and ...

Uganda }), is a landlocked country 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*) territor ...

and

Ivory Coast Ivory Coast, also known as Côte d'Ivoire, officially the Republic of Côte d'Ivoire, is a country on the southern coast of West Africa. Its capital is Yamoussoukro, in the centre of the country, while its largest city and economic centre is ...

Overview

As of 30 September 2019, the bank's total assets were valued at RWF:30.23 billion (US$32.44 million), with shareholders' equity of RWF:7.015 billion (US$7.53 million).

History

In November 2015, the CBA Group, Kenya's largest privately owned financial services provider publicly announced their intention to enter the Rwandan market. The group applied for a banking licence from the Rwanda authorities. In December 2016, the National Bank of Rwanda issued CBA Rwanda with a micro-finance banking licence. In May 2017, CBA Rwanda, a microfinance institution, made public its intention to acquire

Crane Bank Rwanda Crane Bank Rwanda was a commercial bank in Rwanda, licensed by National Bank of Rwanda, the central bank and national banking regulator. In June 2017, the Commercial Bank of Africa signed an agreement to acquire the assets to Crane Bank of Rwanda ...

, a commercial bank, whose parent company in Uganda had been sold and the buyers of the parent did not want to keep the Rwandan subsidiary. On 15 June 2017 CBA Group signed a definitive sale and purchase agreement with

DFCU Bank DFCU Bank, registered as the Development Finance Company of Uganda Bank Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda (BoU), Uganda's central bank and national banking regulator. Overview As of December 2021, DFC ...

, the owners of Crane Bank Rwanda. The acquisition required regulatory approval in Rwanda, Kenya and Uganda.

Commercial bank status

On Monday, 21 February 2018,

The EastAfrican ''The EastAfrican'' is a weekly newspaper published in Kenya by the Nation Media Group, which also publishes Kenya's national '' Daily Nation''. The ''EastAfrican'' is circulated in Kenya and the other countries of the African Great Lakes T ...

reported that the requisite approvals for the purchase of Crane Bank Rwanda had been received from the Bank of Uganda, the Central Bank of Kenya and 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 acquired assets and liabilities, including two operational branches in Kigali, are expected to be merged with the existing micro-finance operations of CBA Rwanda. On 19 March 2018, the refurbished branches of Crane Bank Rwanda, opened as CBA Bank Rwanda, a commercial bank.

Group merger

In September 2019, Commercial Bank of Africa Group, the parent company of the Commercial Bank of Africa (Rwanda), received regulatory approval from the Central Bank of Kenya and from the Kenya Ministry of Finance, to merge with the

NIC Bank Group NCBA Group Plc, is a financial services conglomerate in East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast. Location The group's headquarters are ...

, effective 1 October 2019. It is expected that this bank will re-brand to NCBA Bank Rwanda, subject to the approval of the National Bank of Rwanda. On 13 January 2020, NCBA Bank Rwanda received a new commercial banking licence from the National Bank of Rwanda.

Branches

# Nyarugenge Branch: 10249 Ville De Kigali,

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 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 ...

# # Kigali Heights Branch: Kigali Heights Shopping Complex, Kigali. (Main Branch)

References

External links

Official Website
{{coord, 01, 57, 11, S, 30, 05, 35, E, display=title Banks of Rwanda NCBA Group Plc Banks established in 2016 2016 establishments in Rwanda Organisations based in Kigali Economy of Kigali