Bank of Kigali
Encyclopedia
Bank of Kigali is a commercial bank
in the Republic of Rwanda. The bank is one of the ten (10) commercial bank
s licensed by the National Bank of Rwanda
, the country's banking regulator.
. That same year, it was ranked among the top fifteen (15) commercial banks in East Africa
, and among the top one hundred (100) banks in Africa
. At that time, the bank's total assets exceeded US$333 million (RWF:197.8 billion). Bank of Kigali accounted for 27.4% of all bank assets in the country. At the end of June 2011, the bank's assets were estimated at approximately US$414 million (RWF:246 billion).
(RSE), in 2011. On 21 June 2011, the Rwandan Capital Market Advisory Council (CMAC) gave its approval for Bank of Kigali to float 45% of its shares on the RSE, as well as to list its shares on the stock exchange. Trading in the shares of the bank is expected to start on 30 June 2011.
, the ownership of the bank's stock
will look like this:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Bank of Kigali Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Government of Rwanda||30.00
|-
|2||Social Security Fund of Rwanda||25.00
|-
|3||Other Inestors
via Rwanda Stock Exchange
||45.00
|-
|||Total||100.00
|-
|}
, all of whom, except one, are non-executive. The current chairman of the board is Lado Gurgenidze.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in the Republic of Rwanda. The bank is one of the ten (10) commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
s licensed by the National Bank of Rwanda
National Bank of Rwanda
The National Bank of Rwanda is the central bank of Rwanda. The bank was founded in 1964 and is quartered in Kigali; it operates Rwanda's principal securities exchange, the Rwanda Over The Counter Exchange.-History:...
, the country's banking regulator.
Overview
, the bank was ranked number one (01) in assets out of the ten (10) licensed commercial banks in RwandaRwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
. That same year, it was ranked among the top fifteen (15) commercial banks in East Africa
East Africa
East Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
, and among the top one hundred (100) banks in Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
. At that time, the bank's total assets exceeded US$333 million (RWF:197.8 billion). Bank of Kigali accounted for 27.4% of all bank assets in the country. At the end of June 2011, the bank's assets were estimated at approximately US$414 million (RWF:246 billion).
History
Bank of Kigali was started in 1966, to provide commercial banking services to individuals, small businesses and large corporations. Prior to 2007, the bank was 50% owned by Banque Belgolaise, before the Government of Rwanda purchased that shareholding. Subsequently, the government sold minority shareholding to other corporate entities, including the Social Security Fund of Rwanda (SSFR), and the National Post Office of Rwanda (NPR). Plans are underway for the government to divest more of its ownership in the bank by floating 25% shareholding on the Rwanda Stock ExchangeRwanda Stock Exchange
The Rwanda Stock Exchange , is Rwanda's principal stock exchange. It was founded in January 2011. The RSE is operated under the jurisdiction of Rwanda's Capital Markets Advisory Council, , which in turn reports to National Bank of Rwanda, the country's Central Bank.The exchange's doors opened for...
(RSE), in 2011. On 21 June 2011, the Rwandan Capital Market Advisory Council (CMAC) gave its approval for Bank of Kigali to float 45% of its shares on the RSE, as well as to list its shares on the stock exchange. Trading in the shares of the bank is expected to start on 30 June 2011.
Ownership
, following the listing of the bank's shares on the Rwanda Stock ExchangeRwanda Stock Exchange
The Rwanda Stock Exchange , is Rwanda's principal stock exchange. It was founded in January 2011. The RSE is operated under the jurisdiction of Rwanda's Capital Markets Advisory Council, , which in turn reports to National Bank of Rwanda, the country's Central Bank.The exchange's doors opened for...
, the ownership of the bank's stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
will look like this:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Bank of Kigali Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Government of Rwanda||30.00
|-
|2||Social Security Fund of Rwanda||25.00
|-
|3||Other Inestors
Investor
An investor is a party that makes an investment into one or more categories of assets --- equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc...
via Rwanda Stock Exchange
Rwanda Stock Exchange
The Rwanda Stock Exchange , is Rwanda's principal stock exchange. It was founded in January 2011. The RSE is operated under the jurisdiction of Rwanda's Capital Markets Advisory Council, , which in turn reports to National Bank of Rwanda, the country's Central Bank.The exchange's doors opened for...
||45.00
|-
|||Total||100.00
|-
|}
Branch Network
, Bank of Kigali maintains thirty-three (33) networked branches at the locations below; making it one of the largest banks in the country, by the size of branch network:- Main Branch - 6112 Avenue de la Paix, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Kacyiru Branch - Kacyiru, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Downtown Branch - Downtown KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Western Union Branch - KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Kicukiro Branch - Kicukiro, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Remera Branch - Remera, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Kimironko Branch - Kimironko, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Nyamirambo Branch - Nyamirambo, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Nyabugogo Branch - Nyabugogo, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Kabuga Branch - Kabuga, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- RDB Branch - KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Kigali Airport Branch - KanombeKigali International AirportKigali International Airport , formerly known as Gregoire Kayibanda International Airport, but sometimes referred to as Kanombe International Airport, is the primary airport serving Kigali, the capital of Rwanda...
, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of... - SFB Branch - KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Manor Hotel Branch - Manor Hotel, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Gatsata Branch - Gatsata, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Gisenyi Branch - GisenyiGisenyiGisenyi is a city in Rubavu district in the Western Province of Rwanda. Gisenyi is contiguous with Goma, the city across the border in the Democratic Republic of the Congo. The population of the city is about 106 000 .-Description:...
- Gisenyi Downtown Branch - Downtown GisenyiGisenyiGisenyi is a city in Rubavu district in the Western Province of Rwanda. Gisenyi is contiguous with Goma, the city across the border in the Democratic Republic of the Congo. The population of the city is about 106 000 .-Description:...
- Ruhengeri Branch - RuhengeriRuhengeriRuhengeri is a city and capital of Musanze District in the Northern Province of Rwanda. Some sources now refer to the city itself as Musanze, after the district in which it lies. It lies near the twin lakes of Lake Burera and Lake Ruhondo and is the gateway city to Volcanoes National Park and the...
- Ruhengeri Downtown Branch - Downtown RuhengeriRuhengeriRuhengeri is a city and capital of Musanze District in the Northern Province of Rwanda. Some sources now refer to the city itself as Musanze, after the district in which it lies. It lies near the twin lakes of Lake Burera and Lake Ruhondo and is the gateway city to Volcanoes National Park and the...
- Gakenke Branch - GakenkeGakenkeGakenke is a district in Northern Province, Rwanda. Its capital is Gakenke town.- Sectors :Gakenke district is divided into 19 sectors : Busengo, Coko, Cyabingo, Gakenke, Gashenyi, Mugunga, Janja, Kamubuga, Karambo, Kivuruga, Mataba, Minazi, Muhondo, Muyongwe, Muzo, Nemba, Ruli, Rusasa and...
- Gitarama Branch - Gitarama
- Butare Branch - ButareButareButare is a city in the Southern Province of Rwanda and capital of Huye district. It was the capital of the former Butare Province, Rwanda, that was dissolved on January 1, 2006....
- Cyangugu Branch - CyanguguCyanguguCyangugu is a city and capital of the Rusizi district of Western Province, Rwanda. The city lies at the southern end of Lake Kivu, and is contiguous with Bukavu, Democratic Republic of the Congo, but separated from it by the Ruzizi River...
- Rwamagana Branch - RwamaganaRwamaganaRwamagana is a city and capital of both Rwamagana district and the Eastern Province of Rwanda- Description :Rwamagana lies approximately from Kigali, on the newly renovated road leading east towards Tanzania...
- Kibungo Branch - KibungoKibungoKibungo is a city in Ngoma district in the Eastern Province of Rwanda, and was the capital of the now defunct Kibungo Province.- Kibungo City :Kibungo is located about 100km from Kigali, along the main road to Tanzania...
- Kirehe Branch - KireheKireheKirehe is a district in Eastern Province, Rwanda. Its capital is Kirehe town .- Geography :...
, KibungoKibungoKibungo is a city in Ngoma district in the Eastern Province of Rwanda, and was the capital of the now defunct Kibungo Province.- Kibungo City :Kibungo is located about 100km from Kigali, along the main road to Tanzania...
- Kayonza Branch - KayonzaKayonzaKayonza is a small town in Kayonza district, Eastern Province, Rwanda.The town is centred on a roundabout, where the road east from Kigali splits into the road running north to the Ugandan border, and the road south to Tanzania. It is a major transport hub because of this junction, where a sizeable...
- Kabarore Branch - KabaroreKabarore-Location:Kabarore is located in Gatsibo District, Eastern Province, at the western edge of Akagera National Park, about , west of the International border with the Republic of Tanzania. Its location lies about , by road, north of Kayonza, on the Kayonza-Nyagatare Road...
- Nyagatare Branch - NyagatareNyagatareNyagatare is a city and capital of Nyagatare district in Eastern Province, Rwanda. It has a population of 9000 inhabitants.The city is located at the end of a 12 km spur from the Kayonza-Kagitumba road, and has grown considerably since 1994, boosted by an influx of former refugees from Uganda...
- Rusumo Branch - RusumoRusumoRusumo is a district of the Rwandan province of Kibungo. Population: 149,643 ; area: 601 square kilometers. It is separated from Tanzania by the Kagera River, which is distinguished by the Rusumo Falls....
- Gicumbi Branch - GicumbiGicumbiGicumbi is a district 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...
- Gatuna Branch - GatunaGatunaGatuna is a town in northern Rwanda.-Location:Gatuna is located in Burera District, Northern Province, at the border with the Republic of Uganda. Its location is about , by road, north of Kigali, Rwanda's capital and largest city...
- Nyamata Branch - NyamataNyamata-Location:Nyamata is located in Bugesera District, Eastern Province, directly south of Kigali, the national capital and the largest city in the country. Its location is about , by road, south of Kigali. The coordinates of the town are:02 12 18S, 30 08 42E .-Overview:Nyamata is a small town in...
Directors
The activities of Bank of Kigali are supervised by a ten-member Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
, all of whom, except one, are non-executive. The current chairman of the board is Lado Gurgenidze.