[VIDEO]: KCB Bank opens new branch in Nyarutarama

KCB bank Rwanda, a subsidiary of the Kenyan-based KCB Group, has opened a new branch in Nyarutarama, a Kigali city upscale suburb as it moves to further ease access to its services, as well as improve efficiency.
Toroitich (second left) is joined by board members, Dan Zitunga, Specioza Ayinkamiye and Molly Rwigamba, to cut the ribbon at the launch of the new branch at Nyarutarama. (Timothy Kisambira)
Toroitich (second left) is joined by board members, Dan Zitunga, Specioza Ayinkamiye and Molly Rwigamba, to cut the ribbon at the launch of the new branch at Nyarutarama. (Timothy Kisambira)

KCB bank Rwanda, a subsidiary of the Kenyan-based KCB Group, has opened a new branch in Nyarutarama, a Kigali city upscale suburb as it moves to further ease access to its services, as well as improve efficiency.

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KCB Managing Director, Maurice (Middle), Molly Rwigamba, Speciose Ayinkamiye, KCB board members plant a tree as a symbol of putting down roots and future growth of the Bank.

The new branch brings the bank’s number of outlets to 14 countrywide.

Speaking at the launch of the outlet, Maurice Toroitich, the KCB Bank Rwanda managing director, said the new branch will provide clients with a range of products, including loans and mortgages.

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Speciose Ayinkamiye, a KCB board member, speaks at the launch.

“It is designed to serve our clients better in terms of quality and transparent services.

“It will also help us connect customers on our network both locally and regionally,” Toroitich said on Wednesday.

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The look of the newly launched KCB MTN Center branch.

Fred Uwambo, the general manager of Hydroform Energy and a client to the bank, said, the new branch will help reduce congestion and enhance services.

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The Rwanda Stock Market cross-listed regional financial services provider recorded an increase in half year gross profit of 13 per cent to Ksh13.2 billion (Rwf89.8 billion), up from Ksh11.7 billion (Rwf79.6 billion) in June 2014.

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One of the first customers to be served at the new branch.

Its total assets were up by 29 per cent due to a 31 per cent rise in loans and advances and investments in government securities which were up by 21 per cent.

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Toroitich and Molly Rwigamba cut the cake joined by the CEO of MTN Rwanda.

Net loans and advances constitute the highest proportion of the bank’s assets at 57 per cent.

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Cutting the cake.

KCB’s assets base now stands at Ksh567 billion (Rwf3.9 trillion), the biggest balance sheet in the East African banking sector.

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KCB staff serve guests with cake during the launch of the Nyarutarama branch.

Total liabilities increased by 30 per cent as a result of a sharp growth in deposits, by 26 per cent as customer numbers grew due to new business lines like KCB M-Pesa, KCB Insurance Agency, KCB Capital and KCB Sahl Banking, the financial institution’s Islamic finance arm.

editorial@newtimes.co.rw

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