Commercial Bank of Rwanda
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|
| Private | |
| Industry | Financial Services |
| Founded | 1963 |
| Headquarters | Kigali, Rwanda |
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Key people
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Irwin William Carlisle Chairman Robin Bairstow Managing Director |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Revenue |
 Aftertax US$ 6.77 million (RWF:5 billion) (December 2015) |
| Total assets | US$232.8 million (RWF:172 billion) (December 2015) |
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Number of employees
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300 (2015 |
| 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.
The bank is a medium-sized bank, serving large corporations, small-to-medium businesses, and individuals. As of December 2015[update], the bank's total assets were valued at RWF 175 billion (approx. US$232.8 million). Shareholder's equity at 31 December 2014 was approximately US$28.9 million (RWF:21.6 billion). *Note: US$1.00 = RWF738.84 on 6 August 2016
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. 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.
In August 2013, the bank rebranded to I&M Bank (Rwanda) to reflect its current shareholding.
In September 2015, I&M Bank Rwanda appointed its current Managing Director - Robin Bairstow
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.
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