BCR in multi-million expansion drive

Rwanda Commercial Bank (BCR) has embarked on a major expansion and refurbishment drive of decongesting banking halls.

Rwanda Commercial Bank (BCR) has embarked on a major expansion and refurbishment drive of decongesting banking halls.

This will pave way for the 45-year old bank to become a leading banking institution in the country.

The move comes at a time the ATM card project that would have eased congestion in banks has failed to take off. Simtel, an electronic banking service provider contracted to make the cards and import automated teller machines, has not delivered to commercial banks’ expectation.

"In its third year of operating under the guidance of ACTIS Capital, our principal shareholder, BCR has continued to lead the market in growing its loan book through the development of new products targeted at the SMEs and retail market. Supported by innovations in customer service, this growth has translated into significant growth in returns to our shareholders," David Kuwana, BCR managing director is quoted to have said.

Hanninton Namara, the bank’s marketing manager said: "We are taking financial markets to areas with

little or no banking facilities. We have been using a mobile van to offer banking services in Eastern Province but the Rwamagana branch will be operational soon."

Districts of Kayonza, Rwamagana, Nyagatare, Kirehe will have to use the Rwamagana branch. BCR estimates that $1 million Frw543 million is to be spent to turn the headquarters building into a modern banking hall.

BCR is described as one of the healthy banks in the country. It is ranked second after its capital grew by 39 per cent in 2006, assets increased by 49 per cent and net profit by a remarkable 102 per cent.

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