Guaranty Trust Bank (Rwanda)

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 Increase Pretax: US$386,300+ (RWF:260.4 million) (Q1:2015)
Total assets US$114.8 million (RWF:77.4 billion) (Q1:2015)
Website Homepage

Guaranty Trust Bank (Rwanda), commonly referred to as GT Bank (Rwanda), is one of the licensed commercial banks in the Republic of Rwanda.

Overview

As of March 2015, GT Bank (Rwanda) had an estimated asset base of US$114.8 million (RWF:77.4 billion).[2]

History

The beginnings of the bank in Rwanda can be traced to 1983, when the BACAR bank was established. It became one of the first privately owned commercial banks in the country. Sometime before 2004, BACAR was taken over by the National Bank of Rwanda, the country's central bank, because of 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 percent 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) was as follows:

GT Bank (Rwanda) Stock Ownership
Rank Name of OwnerPercentage Ownership
1 Guaranty Trust Bank 64.43
2Government of Rwanda7.96
3 Others27.61
Total100.00

Branch network

As of June 2015, GT Bank (Rwanda) maintained branches at the following locations:[5]

  1. Main Branch - 20 Boulevard de la Révolution, Kigali
  2. Gisozi Branch - Gisozi
  3. Gitarama Branch - Gitarama, Southern Province
  4. Kabarondo Branch - Kabarondo
  5. Kayonza Branch - Kayonza
  6. Kibungo Branch - Kibungo, Eastern Province
  7. Kibuye Branch - Kibuye, Western Province
  8. Kicukiro Branch - Kicukiro
  9. Kigali City Market Branch - Kigali
  10. Kimironko Branch - Kigali
  11. Nyabugogo Branch - Nyabugogo, Kigali
  12. Nyirangarama Branch - Nyirangarama, Rulindo District, Northern Province
  13. Remera Branch - Remera, Kigali
  14. Rubavu Branch - Airport Road, Rubavu
  15. Rubavu Second Branch - Rubavu
  16. Ruhango Branch - Ruhango, Southern Province
  17. Ruhengeri Branch - Ruhengeri, Northern Province
  18. Rusizi Branch - Rusizi

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 senior management team. The managing director is Rao Bavalida.[1]

See also

References

  1. 1 2 Gasore, Ben (20 May 2014). "Rwanda: GT Bank Completes Takeover of Finabank's 70 Percent Stake". New Times (Rwanda). Retrieved 7 June 2015.
  2. ↑ Gasore, Ben (29 May 2015). "Rwanda: GT Bank Records RWF:260.4 Million Net Profit In Q1". The New Times (Rwanda). Retrieved 30 May 2015.
  3. ↑ Nation Correspondent, . (29 December 2013). "Regulator Approves Plan By Nigerian Bank To Buy 70 Percent Fina Stake". Daily Nation Mobile (Nairobi). Retrieved 7 June 2015.
  4. ↑ Kasambira, Timothy (29 January 2014). "FinaBank Rebrands To GT Bank". New Times (Rwanda). Retrieved 7 June 2015.
  5. ↑ GTBR, . (2015). "The Branch Network of Guaranty Trust Bank (Rwanda)". Guaranty Trust Bank (Rwanda) - (GTBR). Retrieved 7 June 2015.

External links

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