Urwego Opportunity Bank

Urwego Opportunity Bank Ltd
Private
Industry Financial services
Founded 2007
Headquarters Kigali, Rwanda
Key people
 Tineyi Emmanuel Mawocha, Chief Executive Officer[1]
Products Loans, savings, investments
Total assets US$24.8 million (2012)[2]
Number of employees
 325
Website urwegobank.com

Urwego Opportunity Bank (Urwego) is a microfinance bank in Rwanda. It is one of the commercial banks licensed by the National Bank of Rwanda, the national banking regulator.[3]

History

Urwego Opportunity Bank of Rwanda, SA (Urwego), was created in July 2007, as a result of a merger between Urwego Community Banking SA (Urwego), and Opportunity International Bank of Rwanda SA (OIBR). Urwego, founded by World Relief Rwanda in 1997, was a leading microfinance institution (MFI) in Rwanda. Since 2004 Urwego had been operating as an independent and regulated MFI in the country with branches in Kigali and the provinces. OIBR was established by Opportunity International, an international microfinance network dedicated to the development of transformational, commercial microfinance banks in developing countries.[4]

Overview

It is a licensed microfinance bank, operated along Christian principles, with services aimed at improving the economic, social and spiritual conditions of the communities that it serves. The bank focuses on serving Rwandans who are economically active but under-banked. Services offered by Urwego include deposit accounts, savings accounts, individual loans, Trust Group Loans, village phone loans, home improvement loans, bicycle loans and school tuition loans. It also offers insurance services, business training and HIV/AIDS training.[5]

Ownership

According to the bank's website, the following corporate entities are shareholders. [6]

OwnerPercentage ownership
Hope International99%
World Relief1%
Total100.00

Branch network

As of June 2011, UOB had eight full-service branches, four of which, including the bank's headquarters, were located in the city of Kigali, Rwanda's capital. The other four full-service branches were located in the provinces. In addition, the bank had 28 loan-producing offices in Rwanda's 30 districts. The full-service branches of the bank were in the following locations:[7]

See also

References

  1. ↑ Tineyi Emmanuel Mawocha is CEO of Urwego
  2. ↑ Total Assets As of December 2012
  3. ↑ "List of Licensed Banks In Rwanda". Archived from the original on 2012-05-12. Retrieved 2012-04-30.
  4. ↑ History of Urwego Opportunity Bank
  5. ↑ Overview of Urwego Opportunity Bank
  6. ↑ Shareholders of Urwego Opportunity Bank
  7. ↑ The Branch Network of UOB
  8. ↑ Musanze Branch Is Eighth Branch of UOB
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