Bank of Kigali (BK) is a Rwandan commercial bank with headquarters in Kigali. The bank is one of the commercial banks licensed by the National Bank of Rwanda, the country's banking regulator.
History
The Bank of Kigali was started in 1966 to provide commercial banking services to individuals, small businesses, and large corporations.
The bank was 50 percent owned by Banque Belgolaise before the Government of Rwanda purchased that shareholding in 2007. Subsequently, the government sold minority shareholding to other corporate entities, including the Social Security Fund of Rwanda and the National Post Office of Rwanda.
In 2011, there were plans for the government to divest more of its ownership in the bank by floating 25 percent shareholding on the Rwanda Stock Exchange (RSE). On 21 June 2011, the Rwandan Capital Market Advisory Council approved plans for the bank to float 45 percent of its shares on the RSE and list its shares on the RSE. Trading in the shares of the bank started on 30 June 2011.
In December 2012, regional media reports indicated that the bank was in the middle of an expansion into neighboring Uganda. In February 2013, the bank received regulatory approval to open an office in Kenya.
Operations
The Bank of Kigali is the largest commercial bank in Rwanda by assets. As of December 2015, its total assets were valued at US$774.1 million (RWF:568.4 billion).
In December 2014, the shareholders' equity stood at approximately US$130.73 million (RWF:89.55 billion). In 2010, the bank was ranked among the top fifteen commercial banks in East Africa.
Branch network
As of July 2015, the bank maintained 47 networked branches in all provinces of the country, making it the largest bank in Rwanda by size of branch network. The locations of those branches included: By December 2015, the bank's branch network had expanded to 75, with over 1,070 agency branches, 84 ATMs and nearly 280,000 mobile banking accounts.
- Main Branch - 6112 Avenue de la Paix, Kigali
- Kacyiru Branch - Kacyiru, Kigali
- Downtown Branch - Downtown Kigali
- Western Union Branch - Kigali
- Kicukiro Branch - Kicukiro, Kigali
- Remera Branch - Remera, Kigali
- Kimironko Branch - Kimironko, Kigali
- Nyamirambo Branch - Nyamirambo, Kigali
- Nyabugogo Branch - Nyabugogo, Kigali
- Kabuga Branch - Kabuga, Kigali
- RDB Branch - Kigali
- Kigali Airport Branch - Kigali International Airport, Kigali
- SFB Branch - Kigali
- Manor Hotel Branch - Manor Hotel, Kigali
- Gatsata Branch - Gatsata, Kigali
- Gisenyi Branch - Gisenyi
- Gisenyi Downtown Branch - Downtown Gisenyi
- Ruhengeri Branch - Ruhengeri
- Ruhengeri Downtown Branch - Downtown Ruhengeri
- Gakenke Branch - Gakenke
- Gitarama Branch - Gitarama
- Butare Branch - Butare
- Cyangugu Branch - Cyangugu
- Rwamagana Branch - Rwamagana
- Kibungo Branch - Kibungo
- Kirehe Branch - Kirehe, Kibungo
- Kayonza Branch - Kayonza
- Kabarore Branch - Kabarore
- Nyagatare Branch - Nyagatare
- Rusumo Branch - Rusumo
- Gicumbi Branch - Gicumbi
- Gatuna Branch - Gatuna
- Nyamata Branch - Nyamata
- Ngororero Branch - Ngororero
Governance
The bank is supervised by a ten-member board of directors, all of whom, except one, are non-executive. The chairman of the board is Lado Gurgenidze. The day-to-day activities of the bank are administered by a ten-person management board, headed by the managing director, Diane Karusisi.
As of March 2016, the ownership of the bank's stock stood as depicted in the table below:
- Note:Totals may be slightly off due to rounding
See also
- List of banks in Rwanda
- Economy of Rwanda
References
External links
- Bank of Kigali Website
- Bank of Kigali Plans Regional Expansion