I&M Bank (Rwanda)

I&M Bank (Rwanda) Limited
Private
Industry Financial Services
Founded 1963
Headquarters Kigali, Rwanda
Key people
 Irwin William Carlisle
Chairman[1]
Robin Bairstow
Managing Director[1]
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax US$ 6.3 million (RWF:4.7 billion) (December 2014)
Total assets US$217.4 million (RWF:150 billion) (December 2014)
Number of employees
 300 (2015[2]
Slogan You will love the difference
Website Homepage

I&M Bank (Rwanda) Limited, is a commercial bank in Rwanda that is licensed by the National Bank of Rwanda, the national banking regulator.[3]

Overview

The bank is a medium-sized bank, serving large corporations, small-to-medium businesses, and individuals. As of June 2013, the bank was the second-largest financial services provider in Rwanda, with total assets of about US$ 200.1 million (RWF 150.3 billion),[4] Shareholder's equity at 31 December 2014 was approximately US$28.9 million (RWF:21.6 billion).[5]

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.[6] 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.[7][8]

In August 2013, the bank rebranded to I&M Bank (Rwanda) to reflect its current shareholding.[9] In April 2015, the Rwandan government announced plans to dispose its entire stake in the bank in a planned initial public offering scheduled for later in 2015.[10]

In September 2015, following the resignation of Sanjeev Anand,[11] I&M Bank Rwanda appointed it's current Managing Director - Robin Bairstow[12]

I&M Bank Group

I&M Bank (Rwanda) is a member of the 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

As of April 2015, the bank's stock was owned by the entities listed in the table below. At that time, there were plans for the government of Rwanda to list its shareholding on the Rwanda Stock Exchange, by floating an initial public offering.[13][14]

I&M Bank (Rwanda) Stock Ownership
Rank Name of OwnerPercentage Ownership
1I&M Bank Group55.0
2PROPARCO12.5
3German Investment Corporation (DEG) 12.5
4Government of Rwanda19.8
5Others0.2
Total100.00

Branch network

Map of I&M Rwanda Branches
I&M Bank Rwanda Branches

I&M Bank (Rwanda) maintains the following branches, as of April 2015:[15]

  1. Main Branch - 11 Boulevard de la Revolution, Kigali
  2. Kacyiru-Umubano Branch - Umubano Hotel, Boulevard de l'Umuganda, Gasabo District, Kigali
  3. Remera Branch - Kisimenti, Remera, Kigali
  4. Nyamirambo Branch - Rwezamenyo Sector, Nyamirambo, Kigali
  5. Mateus Branch - Rue du Travail, Mateus Quarter, Kigali
  6. Rusizi Branch - Kamembe Sector, Cyangugu
  7. Nyabugogo Branch - Building Inkundamahoro, Nyabugogo, Kigali
  8. Kacyiru-Stippag Branch - Stippag Building, Boulevard de l'Umuganda, Kacyiru, Kigali
  9. Rubavu Branch - Gisenyi Sector, Gisenyi (Also known as Gisenyi Branch)
  10. Musanze Branch - Muhoza Sector, Musanze
  11. Gicumbi Branch - Byumba Sector, Byumba
  12. Rwamagana Branch - Kigabiro Sector, Rwamagana
  13. Karongi Branch - RSSB Building, Karongi, Western Province
  14. Kenya Airways Branch - UTC Building, Nyarugenge, Kigali (Also known as Nyarugenge Branch)
  15. Magerwa Branch - Gikondo, Magerwa, Kigali
  16. Huye Branch - Ngoma Sector, Huye, Southern Province
  17. Kigali City Market, Nyarugenge, Kigali

See also

References

  1. 1 2 I&MBR, . (2013). "I&M Bank Rwanda: Board of Directors". I&M Bank Rwanda (I&MBR). Retrieved 27 April 2015.
  2. ↑ Ojulu, Edward (23 July 2012). "Rwanda: Why BCR Is A Good Buy For Its New Investors". Rwanda Focus via AllAfrica.com. Retrieved 27 April 2015.
  3. ↑ BNR, . (2013). "List of Licensed Banks In Rwanda" (PDF). National Bank of Rwanda (BNR). Retrieved 27 April 2015.
  4. ↑ Gasore, Ben (7 November 2014). "I&M Bank Posts Rwf3.6 Billion Profit". The New Times (Rwanda). Retrieved 27 April 2015.
  5. ↑ I&M Bank Rwanda, . "I&M Bank (Rwanda) Limited: Statement of Financial Position As At 31 December 2014" (PDF). I&M Bank Group (I&MBG). Retrieved 27 April 2015.
  6. ↑ I&MBR, . (2010). "The History of I&M Bank (Rwanda)". I&M Bank Rwanda (I&MBR). Retrieved 27 April 2015.
  7. ↑ Joint Report, . (13 November 2011). "Actis To Sale Stake In BCR, Umeme And DFCU". The EastAfrican (Nairobi).
  8. ↑ Rubadiri, Victoria (18 July 2012). "I&M Bank Ventures Into Rwanda Market". 98.4 Capital FM (Nairobi). Retrieved 27 April 2015.
  9. ↑ Gasore, Ben (8 December 2013). "Rwanda: BCR Rebrands To I&M Bank". New Times (Rwanda) via AllAfrica.com. Retrieved 27 April 2015.
  10. ↑ Wainainah, Doreen (2015-04-13). "I&M Bank Rwanda to go public with State selling 19pc stake". Business Daily Africa. Nation Media Group. Retrieved 2015-04-13.
  11. ↑ Gasore, Ben. "I&M Bank Rwanda's Anand resigns". The New Times Rwanda. Retrieved 2016-02-04.
  12. ↑ Tumwebaze, Peterson. "'Banking sector must serve all market segments equally'". The New Times Rwanda. Retrieved 2016-02-04.
  13. ↑ Wainainah, Doreen (13 April 2015). "I&M Bank Rwanda To Go Public As State Prepares To Sell Its 19.8% Stake". The EastAfrican (Nairobi). Retrieved 16 April 2015.
  14. ↑ Gasore, Ben (7 April 2015). "Government To Sell Its Stake In I&M Bank To Public Through An IPO". New Times (Rwanda). Retrieved 27 April 2015.
  15. ↑ IMBR, . (2014). "The Branches of I&M Bank (Rwanda)". I&M Bank (Rwanda) (IMBR). Retrieved 27 April 2015.

External links

This article is issued from Wikipedia - version of the Friday, February 05, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.