Bank of Africa Rwanda Limited
| Company type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 2003 |
| Headquarters | Kigali, Rwanda |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Revenue |  :Aftertax:US$19,100 (RWF:12 million) (2012) |
| Total assets | US$14.6 million (RWF:9.2 billion) (2012) |
| Parent | Bank of Africa Group |
| Website | Homepage |
Bank of Africa Rwanda Limited (BOA Rwanda), formerly known as Agaseke Bank, is a commercial bank in Rwanda. The bank is one of the licensed banks in the Republic of Rwanda.[1]
Overview
The bank is a small, but growing financial services provider in Rwanda. As of December 2012, its total assets were valued at approximately US$14.6 million (RWF:9.2 billion).[2]
History
BOA Rwanda was formed in November 2003 as Centre Financier aux Entrepreneurs Agaseke (CFE SA Agaseke) with the aim of providing financial services to small and medium-sized businesses.[3]
On 14 December 2010, the shareholders adopted a resolution to convert CFE SA Agaseke to a microfinance bank and adopted the name Agaseke Bank. The bank was granted a banking license by the National Bank of Rwanda, the national banking regulator, in 2011 and commenced commercial banking services in the same year.
On October 15, 2015, Bank of Africa Group announced its acquisition of a 90% stake in Agaseke Bank.[4] This led to the bank's name changing to Bank of Africa Rwanda Limited and conversion to a commercial bank.[5]
Ownership
The stock of the bank is privately owned by institutional and individual investors. As of December 2015[update], the shareholding in the bank is as depicted in the table below:[4]
| Bank of Africa Rwanda Stock Ownership | ||||||||||||
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Branch Network
The bank maintained a total of thirteen networked branches as of December 2011, with a view to expand in 2012.
See also
- List of banks in Rwanda
- Economy of Rwanda
- Bank of Africa Group
- Bank of Africa Kenya Limited
- Bank of Africa Uganda Limited
- Bank of Africa Ghana Limited
References
- ^ List of Licensed Banks In Rwanda
- ^ December 2012 Financial Data
- ^ "AGASEKE BANK Background". Agaseke Bank. Retrieved 2015-12-24.
- ^ a b "Press release - 15 October 2015" (PDF). Bank of Africa. 15 October 2015. Retrieved 24 December 2015.
- ^ Bizimungu, Julius (2015-10-20). "Bank of Africa acquires 90% stake in Agaseke Bank". The New Times (Rwanda). Kigali. Retrieved 2015-12-24.
External links
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