Bank of Kigali
| Type | Public: RSE: BOK |
|---|---|
| Industry | Financial Services |
| Founded | 1966 |
| Headquarters | Kigali, Rwanda |
| Key people |
Lado Gurgenidze Chairman James Gatera Managing Director |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Revenue |
 Aftertax: US$18.7 million (RWF:11.8 billion) (2012) |
| Total assets | US$511.9 million (RWF:322.8 billion) (2012) |
| Employees | 602 (2011)[1] |
| Website | Homepage |
Bank of Kigali (BK) is a commercial bank in the Republic of Rwanda. The bank is one of the commercial banks licensed by the National Bank of Rwanda, the country's banking regulator.[2]
Overview
As of December 2010, the bank was ranked number one in assets out of the ten licensed commercial banks in Rwanda at that time.[3] That same year, it was ranked among the top fifteen (15) commercial banks in East Africa, and among the top one hundred (100) banks in Africa.[4] As of December 2011, the bank's total assets represented approximately 32.4% of all banking assets in the country. At that time, the shareholders' equity in the bank stood at approximately US$:102 million (RWF:61.6 billion).[5] By 30 June 2012, the bank's total assets had increased to US$523.4 million (RWF:313 billion).[6] As of December 2012, the bank's total assets were valued at US$:511.9 million (RWF:322.8 billion).[7]
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 Exchange (RSE), in 2011.[8] 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.[9] In April 2012, International media reports indicated that Bank of Kigali was in the middle of an expansion into neighboring Kenya and Uganda.[10]
Ownership
As of December 2011, the ownership of the bank's stock stood as depicted in the table below:[11]
| Bank of Kigali Stock Ownership | |||||||||||||||||||||||||||||||||||||||||||||
Branch NetworkAs of June 2012, Bank of Kigali maintained 47 networked branches, in all provinces of the country, making the largest bank in Rwanda, by the size of branch network.[12] The locations of those branches include the following locations:[13]
DirectorsThe activities of Bank of Kigali are supervised by a ten-member Board of Directors, all of whom, except one, are non-executive. The current chairman of the board is Lado Gurgenidze.[17] Management BoardThe day-to-day activities of the bank are administered by a ten-person Management Board, headed by the Managing Director (MD). The current MD is James Gatera, the only executive director.[18] PhotosExternal linksSee alsoReferences
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