Type Private Number of employees 300 (2015 Founded 1963 | Industry Financial Services Headquarters Kigali Parent organization I&M Bank Limited | |
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Key people Irwin William Carlisle
Chairman
Robin Bairstow
Managing Director Products Loans, Checking, Savings, Investments, Debit Cards Revenue Aftertax US$ 6.77 million (RWF:5 billion) (December 2015) Motto You will love the difference Total assets 232.8 million USD (RWF:172 billion, December 2015) Profiles | ||
I&M Bank Rwanda Limited, is a commercial bank in Rwanda that is licensed by the National Bank of Rwanda, the national banking regulator.
Contents
Overview
The bank is a medium-sized bank, serving large corporations, small-to-medium businesses, and individuals. As of December 2015, the bank's total assets were valued at RWF 175 billion (approx. US$232.8 million). Shareholder's equity at 31 December 2014 was approximately US$28.9 million (RWF:21.6 billion). *Note: US$1.00 = RWF738.84 on 6 August 2016
History
The bank was opened in 1963 under the name Banque Commerciale du Rwanda (BCR) or Commercial Bank of Rwanda. In the beginning, it was wholly owned by the Government of Rwanda. In 2004, it was privatized. As of April 2010, Actis Capital 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. The firm's investment portifolio was almost US$5 billion as of April 2010.
In July 2012, Actis Capital divested from BCR by selling its shares to a consortium of the I&M Bank Group from Kenya, PROPARCO from France, and the German Investment Corporation. 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
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, with an asset base estimated at over US$1.875 billion (KSh176.5 billion) as of December 2014. The group has operations in Kenya, Mauritius, Rwanda, and Tanzania.
Ownership
As of April 2015, the bank's stock was owned by the entities listed in the table below. At that time, there were plans for the government of Rwanda to list its shareholding on the Rwanda Stock Exchange, by floating an initial public offering.
Branch network
I&M Bank (Rwanda) maintains the following branches, as of April 2015:
- Main Branch - 11 Boulevard de la Revolution, Kigali
- Kacyiru-Umubano Branch - Umubano Hotel, Boulevard de l'Umuganda, Gasabo District, Kigali
- Remera Branch - Kisimenti, Remera, Kigali
- Nyamirambo Branch - Rwezamenyo Sector, Nyamirambo, Kigali
- Mateus Branch - Rue du Travail, Mateus Quarter, Kigali
- Rusizi Branch - Kamembe Sector, Cyangugu
- Nyabugogo Branch - Building Inkundamahoro, Nyabugogo, Kigali
- Rubavu Branch - Gisenyi Sector, Gisenyi (Also known as Gisenyi Branch)
- Musanze Branch - Muhoza Sector, Musanze
- Gicumbi Branch - Byumba Sector, Byumba
- Rwamagana Branch - Kigabiro Sector, Rwamagana
- Karongi Branch - RSSB Building, Karongi, Western Province
- Kenya Airways Branch - UTC Building, Nyarugenge, Kigali (Also known as Nyarugenge Branch)
- Magerwa Branch - Gikondo, Magerwa, Kigali
- Huye Branch - Ngoma Sector, Huye, Southern Province
- Kigali City Market, Nyarugenge, Kigali