BPR Bank Rwanda Plc

Last updated

BPR Bank Rwanda Plc.
Company typeSubsidiary of KCB Group
Industry Financial services
Founded1975;49 years ago (1975)
Headquarters Kigali, Rwanda
Key people
George Rubagumya
Chairman
Patience Mutesi
Managing Director [1]
Products loans, checking, savings, investments, debit cards
RevenueIncrease2.svg Aftertax:RWF25.8 Billion (US$19.8 Million) (2023) [2]
Total assets RWF:860 Billion (US$660 Million) (2023) [2]
Number of employees
1,300+ (2022) [3]
Website www.bpr.rw

BPR Bank Rwanda Plc (BPR Plc; Kinyarwanda : Banki y'Abaturage y'u Rwanda), formerly Banque Populaire du Rwanda SA, is a commercial bank in Rwanda. The bank is licensed by the National Bank of Rwanda, the central bank and national banking regulator. [4]

Contents

Overview

BPR is a retail (consumer) bank, offering products that include current and savings accounts, debit and credit cards, mortgages and loans. The bank offers consumer banking tools like mobile banking, as well as agricultural business expertise to corporate customers in the food and agri-business value chain. [5]

As of May 2022, BPR Bank Rwanda Plc was a large financial services provider in Rwanda. Its total asset valuation was RWF:648 billion (US$642 million), with 154 networked branches. [6]

In 2016, BPR employed about 1,400 staff at that time. [7] In May 2022, the Rwanda Banker's Association reported that BPR Bank Rwanda Plc., employed over 1,300 people. [3]

In 2021, KCB Group successfully completed the acquisition of Banque Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V. In 2022, in line with its strategy for expansion and enhanced financial inclusion across the region, KCB Group successfully amalgamated Banque Populaire du Rwanda and KCB Bank Rwanda Plc to form BPR Bank Rwanda Plc. The success of this merger makes BPR Bank Rwanda Plc the second largest bank in the Rwanda banking sector. It is reported that KCB Group spent about KSh:6.3 billion (approx. US$55 million) in the acquisition process. [6]

History

The origins of the bank can be traced back to 1975, when the first Banque Populaire du Rwanda was formed in the settlement of Nkamba, in the city of Kibungo, Eastern Province. Over the next ten years, many other similar banks were founded around the country. In 1986, the various autonomous Banques Populaires formed an umbrella called the Union des Banques Populaires du Rwanda (UBPR). UBPR was operated as a cooperative bank. [5]

In January 2008, following 33 years of experience in the Rwandan financial sector, UBPR was transformed from a cooperative bank into a commercial bank: Banque Populaire du Rwanda S.A. [8] In June 2008, Rabobank, the Dutch cooperative banking conglomerate, acquired 35 percent of the shares in BPR. [9] In July 2012, Visa Inc. certified the bank to issue visa-branded debit and credit cards. [10]

In January 2016, Atlas Mara completed its acquisition of a controlling stake of BPR after acquiring shares from existing shareholders [11] and merging the bank with the commercial banking business that was spun off Rwanda Development Bank. [12]

In 2021, KCB Group successfully completed the acquisition of Banque Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V. In 2022, in line with its strategy for expansion and enhanced financial inclusion across the region, KCB Group successfully amalgamated Banque Populaire du Rwanda and KCB Bank Rwanda Plc to form BPR Bank Rwanda Plc. The success of this merger makes BPR Bank Rwanda Plc the second largest bank in the Rwanda banking sector. It is reported that KCB Group spent about KSh:6.3 billion (approx. US$55 million) in the acquisition process. [6]

Ownership

As of September 2022 the bank's stock was owned by the following shareholders, as outlined in the table below: [13]

Banque Populaire du Rwanda Stock Ownership
RankName of OwnerPercentage Ownership
1 KCB Group
87.5
3Other Minority Shareholders
12.5
Total
100.00

Branch network

As of May 2022, BPR Bank Plc maintained a network of 154 full-service branches, and over 100 ATMs in all Regions of Rwanda. [14]

Governance

The activities of BPR Bank Plc are supervised by a seven-member board of directors representing commercial activities, operations, risk and the branch network, headed by the Managing Director. The current chairman of the board is George Rubagumya. The day-to-day affairs of the bank are managed by a fifteen-member executive team, led by the Managing Director, Patience Mutesi. [15]

See also

Related Research Articles

<span class="mw-page-title-main">KCB Bank Kenya Limited</span> Commercial bank in Kenya

KCB Bank Kenya Limited is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the national banking regulator. The bank has also been running Agency banking model.

KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited, KCB TMB Congo and KCB Bank Uganda Limited.

Bank of Kigali (BK) is a commercial bank in Rwanda. It is licensed by the National Bank of Rwanda.

<span class="mw-page-title-main">I&M Bank Rwanda</span> Rwandan bank

I&M Bank Rwanda Plc., is a commercial bank in Rwanda that is licensed by the National Bank of Rwanda. It is the second largest bank in Rwanda.

Access Bank Rwanda is a commercial bank in Rwanda. It is one of the commercial banks licensed by the National Bank of Rwanda, the national banking regulator.

Compagnie Générale de Banque (Cogebanque), sometimes referred to as Cogebank, is a Rwandan commercial bank. It is one of the commercial banks in the Republic of Rwanda, licensed by National Bank of Rwanda, the national banking regulator.

<span class="mw-page-title-main">I&M Holdings Limited</span> Kenyan financial services conglomerate

I&M Holdings Limited, also I&M Bank Group, is a conglomerate comprising banks, an insurance company and investment advisory businesses. The group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Mauritius, Rwanda, Tanzania and Uganda. The flagship company of the group is I&M Bank Limited, with headquarters in the I&M Bank Tower on Kenyatta Avenue in the central business district of Nairobi, Kenya's capital and largest city.

Kenya Commercial Bank South Sudan Limited, sometimes KCB South Sudan, is a commercial bank in South Sudan. It is licensed by the Bank of South Sudan, the country's central bank and national banking regulator.

NCBA Bank Kenya, whose full name is NCBA Bank Kenya Plc, is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the country's central bank and national banking regulator.

KCB Bank Rwanda was a commercial bank in Rwanda and a subsidiary of Kenyan KCB Group. It was one of the banks licensed by the National Bank of Rwanda, the country's banking regulator.

Commercial Bank of Africa (CBA) was a financial services provider headquartered in Nairobi, Kenya, the largest economy in the East African Community. CBA was licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Commercial Bank of Africa Group is a financial services provider in East Africa. Its headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, Tanzania, Uganda and Ivory Coast.

<span class="mw-page-title-main">Equity Bank Rwanda Limited</span> Bank in Rwanda

Equity Bank Rwanda Limited (EBRL), is a commercial bank in Rwanda. The bank is licensed by the National Bank of Rwanda, the central bank and national banking regulator.

<span class="mw-page-title-main">NCBA Group Plc</span> Kenyan financial services conglomerate

NCBA Group Plc, is a financial services conglomerate in East and West Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Uganda and Ivory Coast.

<span class="mw-page-title-main">Equity Bank Tanzania Limited</span>

Equity Bank Tanzania Limited, is a commercial bank in Tanzania, the second-largest economy in the East African Community. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator. The bank is a member of the Equity Group Holdings Limited, a large financial services conglomerate, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, South Sudan, Tanzania, Uganda, Democratic Republic of the Congo and a representative office in Ethiopia.

Atlas Mara Limited, formerly referred to as Atlas Mara Co-Nvest Limited, is a financial services holding company formed to undertake the acquisition of target banks in Africa.

<span class="mw-page-title-main">Equity Group Holdings</span> Financial services holding company based in the African Great Lakes region

Equity Group Holdings Limited (EGHL), formerly Equity Bank Group, is a financial services holding company based in the African Great Lakes region. EGHL's headquarters are in Nairobi, Kenya, with subsidiaries in Kenya, Uganda, Tanzania, South Sudan, Rwanda, Democratic Republic of the Congo and a representative office in Ethiopia.

<span class="mw-page-title-main">Equity Banque Commerciale du Congo</span> Bank in the Democratic Republic of the Congo

Equity Banque Commerciale du Congo (EquityBCDC) is a commercial bank in the Democratic Republic of the Congo. It is a merger between Equity Bank Congo (EBC), formerly ProCredit Bank DRCongo, and Banque Commerciale du Congo. This followed the acquisition of majority shareholding in both banks by the Equity Group Holdings Limited, a Kenya-based financial services conglomerate with total assets in excess of US$10 billion.

<span class="mw-page-title-main">NCBA Bank Rwanda</span> Commercial bank in Rwanda

NCBA Bank Rwanda, formerly Commercial Bank of Africa (Rwanda), is a commercial bank in Rwanda. NCBA Bank Rwanda is one of the Kenyan-owned bank subsidiaries to launch operations in Rwanda. The bank is a subsidiary of the NCBA Group Plc, a financial services group with headquarters in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, Tanzania, Uganda and Ivory Coast.

References

  1. ↑ Patrick Ndugidi (29 January 2023). "Patience Mutesi Appointed Managing Director of BPR Bank Rwanda Plc". African Shapers. Abidjan, Ivory Coast. Retrieved 8 July 2024.
  2. 1 2 BPR Bank Rwanda Plc. (13 May 2024). "BPR Bank Rwanda Registers Rwf25 Billion Profit After Tax". BPR Bank Rwanda Plc. Kigali, Rwanda. Retrieved 8 July 2024.
  3. 1 2 RBA (5 May 2022). "KCB Group Completes Acquisition Of Banque Populaire Du Rwanda". Rwanda Banker's Association (RBA). Kigali, Rwanda. Retrieved 8 July 2024.
  4. ↑ National Bank of Rwanda (30 June 2017). "List of Licensed Banks As of June 2017" (PDF). Kigali: National Bank of Rwanda. Archived from the original (PDF) on 4 August 2017. Retrieved 24 July 2018.
  5. 1 2 Banque Populaire du Rwanda (24 July 2018). "History of Banque Populaire du Rwanda 2018". Banque Populaire du Rwanda. Kigali, Rwanda. Retrieved 24 July 2018.
  6. 1 2 3 Kepha Muiruri (4 May 2022). "KCB Unveils Merged Rwanda Operations". Citizen Digital. Nairobi, Kenya. Retrieved 9 May 2022.
  7. ↑ Robert Mbaraga (29 October 2016). "Banque Populaire to close 20 branches, trim workforce". The EastAfrican . Nairobi, Kenya. Retrieved 24 July 2018.
  8. ↑ Peterson Tumwebaze (20 April 2009). "BPR made over Rwf2b profits in 2008". New Times (Rwanda) . Kigali, Rwanda. Retrieved 24 July 2018.
  9. ↑ Gertrude Magyambere (13 June 2008). "Rwanda: Dutch Bank Invests RWF6.5 Billion Into BPR" (via AllAfrica.com). New Times (Rwanda) . Kigali, Rwanda. Retrieved 30 April 2015.
  10. ↑ Dias Nyesiga (30 July 2012). "BPR Gets Visa Certification" (via AllAfrica.com). New Times (Rwanda) . Kigali, Rwanda. Retrieved 30 April 2015.
  11. ↑ Gahigi, Moses (7 January 2018). "Atlas Mara completes acquisition of second Rwandan bank". The EastAfrican . Nairobi. Retrieved 24 July 2018.
  12. ↑ Tumwebaze, Peterson (21 January 2016). "BPR-BRD Commercial merger to be completed in six months". New Times (Rwanda) . Kigali. Retrieved 24 July 2018.
  13. ↑ Otiato Guguyu (6 September 2022). "KCB's stake in Rwanda unit rises by 10.8pc after merger". Business Daily Africa . Nairobi, Kenya. Retrieved 21 September 2022.
  14. ↑ Hapa Kenya (4 May 2022). "KCB Group launches new banking subsidiary in Rwanda; BPR Bank Rwanda". HapaKenya.com. Nairobi, Kenya. Retrieved 21 September 2022.
  15. ↑ BPR Bank Plc (4 May 2022). "About Us: Our Leaders: Board of Directors". BPR Bank Plc. Kigali, Rwanda. Retrieved 21 September 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.