I&M Bank Rwanda Limited is a commercial bank in Rwanda which is licensed by the National Bank of Rwanda, the national banking regulator.
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 to ‘’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
On April 2015, 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 Branches
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