NCBA Bank Rwanda has launched a new branch in Musanze District as it continues its expansion strategy.
NCBA Bank Rwanda is part of NCBA Group, a financial services group with a presence in five African countries— Uganda, Tanzania, Ivory Coast, and Rwanda, headquartered in Kenya, and a total of 87 branches with a base of more than 65 million customers in these countries.
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The Musanze branch which was opened on March 9, 2023, is located in Blessed Plaza Building, Gikwege village, Muhoza sector.
Musanze branch as the fifth branch joins the growing network at Kigali Heights, Downtown Kigali, Nyabugogo, and Kayonza.
Ambassador Antoine Juru Munyakazi, a board member of NCBA Bank Rwanda, said that the bank is rapidly growing having debuted on the Rwanda market a few years ago.
"The bank is opening branches across the country and it has the ambition to be among the best banks in Rwanda. The bank is ready to boost development in Musanze District and the country in general. Our uniqueness is that we have so many digital services and solutions,” he said.
With more than three million users, NCBA Rwanda is the largest digital bank in Rwanda, he said.
"Musanze is a district that is growing quickly and it is our opportunity as a bank as it is also the businesses opportunity to have NCBA Rwanda for their development,” he said.
NCBA Rwanda also provides a digital solution "Mokash” in partnership with MTN Rwanda accessible from any mobile phone.
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Customers including small businesses that need small capital have access to loan services and saving schemes on the platform as well.
Christian Dingida, in charge of operations at NCBA, assured customers that the bank has unique products for them.
"We have a product that helps businesses that transport goods to buy vehicles. This is a new product that will facilitate businesses in the city which is a rapidly growing and strategic place for movement to and from neighbouring countries. This kind of loan is provided within 48 hours and the customer is not required to have collateral,” he said.
He said that there is also a product to help customers get residential houses.
"We give such a loan to customers who want to construct or buy residential houses, paid within 20 years,” he said.
He said that the bank has plans to expand to all provinces as it already has branches in Kigali, Eastern, and Northern provinces.
The bank closed the year 2022 with a record of Rwf96 billion in deposits and Rwf87 billion in loans.
NCBA Bank Rwanda has a customer base of 2.7 million making it the largest bank by customer number.
This is majorly driven by its digital platform "Mokash” in partnership with MTN Rwanda where it has a customer base of 3.1 million as of December 2022.
NCBA Bank Rwanda recorded a profit before tax of Rwf4.9 billion and total assets of Rwf150 billion as of December 2022.
Having existed for more than 60 years, NCBA Bank says "Go for It”, a new entity that creates for the future and drives the country’s dreams by inspiring its people to achieve more with their money and thus their lives.
Merged with two authorities in the region’s banking industry, NCBA is a universal bank that aims to support the aspirations of Rwanda and the region.
It is among the largest banks in East Africa and a true market leader in corporate banking, asset, and digital banking.
Balthazar Nshimiyimana, the owner of Virunga Hotel and Virunga Express, said that it is a big opportunity for the private sector to have NCBA in Musanze District.
"I have been working with NCBA for one year. The bank has good service delivery to the customers. When a client requests a loan, the service is not delayed. For instance, I requested a loan at the end of 2022 and immediately got it and I am going to get another loan to expand the hotel buildings. The NCBA interest rate is also lower compared to that of the banks I was previously working with,” he said, adding that the bank has scrapped other unnecessary charges.
Ramuli Janvier, Mayor of Musanze District, welcomed NCBA to the district, stressing that it is an opportunity to boost the city’s development and urbanisation.
"The bank is an opportunity for the private sector, the citizens, and small businesses. But also, urbanisation where 49.6 per cent of Musanze residents live in urban areas, is also an opportunity for the bank. Investors need money to use in modernising infrastructure in the city,” he said.