Banque Populaire du Rwanda

Banque Populaire du Rwanda Limited (BPR; 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.[3]

Banque Populaire du Rwanda (Part of Atlas Mara)
Private
IndustryFinancial Services
Founded1975 (1975)
HeadquartersKigali, Rwanda
Key people
Njuguna Ndung'u
Chairman
Maurice Toroitich
Chief Executive Officer
Productsloans, checking, savings, investments, debit cards
Revenue Aftertax:RWF:1.035 Billion (US$1.21 Million) (2017)[1]
Total assetsRWF:273.201 Billion (US$320 Million) (2017)[1]
Number of employees
~ 1,000 (2019)[2]
Websitewww.bpr.rw

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.[4]

As of December 2017, BPR was a medium-sized financial services provider in Rwanda. Its total asset valuation was RWF:273.201 billion (US$320 million), with RWF:42.568 billion (US$50 million) in shareholder funds.[1]

In 2016, BPR employed about 1,400 staff at that time.[5] However, following the acquisition by Atlas Mara, and the merger with BRD Commercial, about 300 people were terminated.[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.[4]

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.[7] In June 2008, Rabobank, the Dutch cooperative banking conglomerate, acquired 35 percent of the shares in BPR.[8] In July 2012, Visa Inc. certified the bank to issue visa-branded debit and credit cards.[9]

In January 2016, Atlas Mara completed its acquisition of a controlling stake of BPR after acquiring shares from existing shareholders[10] and merging the bank with the commercial banking business that was spun off Rwanda Development Bank.[11]

In April 2019, Equity Bank Group, the second largest banking conglomerate by assets in East Africa, unveiled plans to acquire 62 percent of Banque Populaire du Rwanda, in a share swap with the Atlas Mara Limited.[12]

Ownership

As of August 2016 the bank's stock was owned by the following corporate entities, as outlined in the table below:[13]

Banque Populaire du Rwanda Stock Ownership
RankName of OwnerPercentage Ownership
1Atlas Mara Limited
62.1
2Arise BV[13]
14.6
3Other Minority Shareholders
23.3
Total
100.00

Arise is an investment company that focuses on investments in Africa. It is owned by a consortium of European financial institutions including FMO, Rabobank and Norfund[13]

Branch network

As of March 2019, Bank Populaire du Rwanda maintained a network of nearly 200 full-service branches, and over 100 ATMs in all Regions of Rwanda.[6][14][15]

Governance

The activities of Banque Populaire du Rwanda are supervised by a nine-member board of directors representing commercial activities, operations, risk and the branch network, headed by the CEO. The current CEO is Maurice Toroitich.[16] The current chairman of the board is Njuguna Ndung'u.[17] The day-to-day affairs of the bank are managed by a ten-member executive team, led by Maurice Toroitich, the CEO.[15]

See also

References
  1. Banque Populaire du Rwanda (29 March 2018). "Audited Financial Statements for the Year Ended 31 December 2017" (PDF). Kigali: Banque Populaire du Rwanda. Retrieved 24 July 2018.
  2. Victor Juma (5 July 2019). "Equity deal adds 2,641 new staff to payroll". Business Daily Africa. Nairobi. Retrieved 5 July 2019.
  3. 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.
  4. Banque Populaire du Rwanda (24 July 2018). "History of Banque Populaire du Rwanda". Kigali: Banque Populaire du Rwanda. Retrieved 24 July 2018.
  5. Mbaraga, Robert (29 October 2016). "Banque Populaire to close 20 branches, trim workforce". The EastAfrican. Nairobi. Retrieved 24 July 2018.
  6. Gahigi, Moses (5 February 2017). "BPR reconsiders closing branches in restructuring strategy". The EastAfrican. Nairobi. Retrieved 24 July 2018.
  7. Tumwebaze, Peterson (20 April 2009). "BPR made over Rwf2b profits in 2008". New Times (Rwanda). Kigali. Retrieved 24 July 2018.
  8. Magyambere, Gertrude (13 June 2008). "Rwanda: Dutch Bank Invests RWF6.5 Billion Into BPR". New Times (Rwanda) via AllAfrica.com. Retrieved 30 April 2015.
  9. Nyesiga, Dias (30 July 2012). "BPR Gets Visa Certification". New Times (Rwanda) via AllAfrica.com. Retrieved 30 April 2015.
  10. Gahigi, Moses (7 January 2018). "Atlas Mara completes acquisition of second Rwandan bank". The EastAfrican. Nairobi. Retrieved 24 July 2018.
  11. Tumwebaze, Peterson (21 January 2016). "BPR-BRD Commercial merger to be completed in six months". New Times (Rwanda). Kigali. Retrieved 24 July 2018.
  12. Collins Mwai (1 May 2019). "Equity Bank starts process to acquire 62% stake in BPR". New Times (Rwanda). Kigali. Retrieved 8 May 2019.
  13. Kabona, Esiara (4 August 2016). "European Lenders Form New $660 Million African Investment Firm". The EastAfrican. Nairobi. Retrieved 24 July 2018.
  14. Tumwebaze, Peterson (23 May 2010). "BPR opens 126th branch". New Times (Rwanda). Kigali. Retrieved 24 July 2018.
  15. Joseph Mudingu (28 February 2019). "Banque Populaire du Rwanda opens two new branches". New Times (Rwanda). Kigali. Retrieved 28 February 2019.
  16. Tumwebaze, Peterson (8 September 2017). "Toroitich appointed as new BPR boss". New Times (Rwanda). Kigali. Retrieved 24 July 2018.
  17. Tumwebaze, Peterson (1 November 2017). "BPR looks to fintech to ease access to credit, spur growth". New Times (Rwanda). Kigali. Retrieved 24 July 2018.
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