Guaranty Trust Bank (Rwanda)
| Private | |
| Industry | Financial Services |
| Founded | 2004 |
| Headquarters | Kigali, Rwanda |
Key people |
Celestin Kayitare Chairman Rao Balivada Managing Director[1] |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Revenue |
 Pretax: US$310,000+ (RWF:208.8 million) (Q1:2014) |
| Total assets | US$115.5 million (RWF:77.8 billion) (Q1:2014) |
| Website | Homepage |
Guaranty Trust Bank (Rwanda), commonly referred to as GT Bank (Rwanda), is a commercial bank in Rwanda. The bank is one of the licensed commercial banks in the Republic of Rwanda.
Overview
As of March 2014, GTBank Rwanda had an asset base estimated at about US$115.5 million (RWF:77.8 billion). At that time, the shareholders' equity was not publicly known.[2]
History
The beginnings of the bank in Rwanda can be traced back to 1983, when a bank known as BACAR, was established. It became one of the first privately owned commercial banks in Rwanda. Sometime prior to 2004, BACAR was taken over by the National Bank of Rwanda, the country's Central Bank, due to managerial issues. In 2004, Fina Bank, at that time, a Kenyan, commercial bank acquired BACAR. In 2008, Fina Bank opened banking operations in Uganda as well, forming the Fina Bank Group. In 2013, Guaranty Trust Bank, acquired 70% shareholding in the Fina Bank Group for a cash payment of US$100 million.[3] In January 2014, the bank rebranded to reflect the new ownership structure.[4]
Ownership
As of January 2014, the shareholding in the stock of GT Bank (Rwanda) is as illustrated in the table below:
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Guaranty Trust Bank | 64.43 |
| 2 | Government of Rwanda | 7.96 |
| 3 | Others | 27.61 |
| Total | 100.00 | |
Branch Network
As of May 2010, Fina Bank (Rwanda) maintains branches at the following locations: [5]
- Main Branch - 20 Boulevard de la Révolution, Kigali
- Nyabugogo Branch - Nyabugogo, Kigali
- Remera Branch - Remera, Kigali
- Kibungo Branch - Kibungo, Eastern Province
- Kibuye Branch - Kibuye, Western Province
- Gisenyi Branch - Gisenyi, Western Province
- Ruhengeri Branch - Ruhengeri, Northern Province
- Nyirangarama Branch - Nyirangarama, Rulindo District, Northern Province[6]
- Gitarama Branch - Gitarama, Southern Province
- Musanze Branch - Musanze, Northern Province
- Ruhango Branch - Ruhango, Southern Province
Governance
The activities of GT Bank (Rwanda) are directed by an eight-person Board of Directors. The Chairman of the Board is Celestin Kayitare, one of the non-executive directors. The daily activities of the bank are supervised by a ten-person Senor Management Team. The Managing Director is Rao Bavalida.
See also
- List of banks in Rwanda
- Economy of Rwanda
- Guaranty Trust Bank (Uganda)
- Guaranty Trust Bank (Kenya)
- Fina Bank Group
References
- ↑ Rao Bavalida Is New Managing Director
- ↑ Gasore, Ben (5 June 2014). "Rwanda: GT Bank Posts Rwf209 Million Profit". The New Times (Rwanda). Retrieved 6 June 2014.
- ↑ GT Bank Buys 70% Stake In Fina Bank
- ↑ Fina Bank Rebrands To Guaranty Trust Bank
- ↑ Fina Bank Rwanda Branch Network
- ↑ Nyirangarama Branch Launched in May 2010
External links
| ||||||||||||||
