Kigali, Rwanda, 26th January 2024. In a significant development on January 25th, NCBA Bank Rwanda inaugurated its new Kisimenti - Remera branch, signaling the commencement of a comprehensive expansion plan aimed at establishing a robust retail presence in key hubs, including Gisozi, Rubavu, Rusizi, and Nyagatare, throughout the year. This expansion mirrors NCBA's dedication to becoming a leading retail banking brand while sustaining its influence in asset finance and corporate banking.
Dr. Ben Rugangazi, NCBA Rwanda’s Board Chairman, emphasized the importance of this expansion, stating, "Our move into these dynamic hubs in Rwanda is in line with our commitment to providing accessible financial services that promote entrepreneurship and contribute to national growth."
The Kisimenti branch inauguration drew the attendance of esteemed regional banking dignitaries, including NCBA's Group CEO and Managing Director, John Gachora. He articulated, "We are here in Rwanda because these branches represent more than physical locations; We are here first as a mark of our success in becoming a regional bank and secondly to demonstrate that we are also truly a Rwandan bank committed to being closer to the customer.”
Change the Story
In a notable addition to the expansion, NCBA Bank Rwanda unveiled its first Electric Vehicle (EV) Charger station at the Kisimenti branch, marking the inaugural step in an initiative to install EV charging stations at all current and future branches. Aligned with the Group’s "Change the story" sustainability agenda and Rwanda's commitment to clean energy, this move positions NCBA as a leader in sustainable banking practices. Gift Shoko, Group Director of Regional Business, commented during the launch, "In addition to the delivering quick and value based financial services to our customers; we will also contribute to supporting the national infrastructure for electric vehicles." The EV charging stations will attract and educate an environmentally conscious clientele, representing another bold step by NCBA in financial sector innovation.
Launch of the first Bank led Vehicle Market Place "CarDuka”.
Simultaneously, NCBA Bank Rwanda introduced Carduka, an advanced online platform which will be ready for the public in February is designed to revolutionize the vehicle financing experience. This user-friendly platform streamlines the asset finance application process, providing customers with seamless and efficient means to secure financing for their vehicles. Carduka also caters to the needs of car dealers by showcasing their inventory and expanding their reach to potential customers, fostering a win-win situation for both parties.
Lennox Mugambi, Group Director Asset Finance , highlighted, "Carduka will solidify our regional leadership in asset finance and the digital transformation of the financial sector, paving the way for more accessible and efficient financial services in the years to come.”
Customer Appreciation Dinner
The Banks customers were appreciated during a glamorous dinner at Serena Hotel on January 26th. where. Lina Higiro, NCBA Rwanda CEO, remarked, "Our customers are the very heart of our success. This event is a token of our appreciation for your unwavering trust and partnership.” Mohammed Irfan, one of the customers present, appreciated the gesture, stating, "NCBA's commitment to recognizing and appreciating its customers goes beyond banking transactions. It reflects a genuine partnership built on trust and mutual success."
About NCBA Bank Rwanda
NCBA Bank Rwanda, established in May 2017 as a Micro Finance institution, has rapidly grown into one of Rwanda's leading banks.. Renowned for its market leadership in Asset Finance, digital banking, corporate banking, and exceptional customer service, NCBA has made significant contributions to Rwanda's financial sector and economic development.
Financially the bank has reported substantial growth. From a year on year perspective, as at the end of September 2023, the bank registered a 130% year on year (YOY) growth on its Profit before tax to Rwf 6.8bn from Rwf 3Bn in September 2022, funded by with significant growth on deposits which grew to Rwf 141Bn from Rwf 76Bb (85% growth); Gross Loan growth contributed to income closing at Rwf111Bn from Rwf 82Bn, leading to a total balance sheet of Rwf 194Bn, a 46% year on Year Growth.
The bank's notable achievement in digital services and Inclusion has revolutionized banking in the country, providing financial services to over 4.2 million Rwandans, with a particular focus on empowering women (41% of all users) and engaging the youth (60% of the user base aged 16-35 years).
As a member of the NCBA Group, NCBA Bank Rwanda benefits from a strong regional presence with more than 100 branches across Rwanda, Uganda, Tanzania, Ivory Coast, and Kenya. The Group's customer base of over 60 million makes it the largest banking group in Africa by customer numbers, playing a vital role in supporting the continent's economic ambitions and establishing NCBA as a key player in Africa's financial landscape.