{{In partnership with I&M Bank from Kenya, Rwanda Commercial Bank (BCR) has extended its branches in three countries of East African Community including 15 other branches under the name “Bank One Mauritius” located in Mauritius.}}
BCR has become an I&M Bank Group Company and that has enabled BCR to establish 55 branches in EAC; 18 Branches in Rwanda, 7 branches under the name I&M Bank Tanzania located in Tanzania and 20 branches under the name I&M Bank Kenya located in Kenya.
Sanjeev Anand, the Managing Director of BCR has noted that BCR as an innovation driven Bank will continue to expand its branches while delivering quality services to its clients.
The new changes in BCR come at a time the bank is celebrating its 50th Anniversary since its establishment in 1963.
Lina Mukashyaka, Head of Strategy and planning at BCR, noted that in 1963 a financial institution called SFOM owned 86.22% of shares; Government of Rwanda had 10% of shares, Trafiporo with 3.33% of shares while individuals owned 0.45% of shares.
In July 1999, Government of Rwanda owned 44% of BCR shares; Banque Bruxelles Lambert 42% and that time the number of individuals owning shares increased to 14%.
Since Rwanda had the lion share, in 2004, the Government privatised the Bank where an international Bank called Actis bought 86% of BCR shares; Government remained with 19.8% while individuals owning shares slightly went down to 0.2%.
In July 2012, BCR has seen a Group of Banks called an I&M Bank Group buying 80% of shares and since then Government of Rwanda owns 19.8% of shares while individuals still remain at 0.2%.
Sanjeev Anand said that BCR has also made profits with an increasing number of clients to over 30 000.
Within 50 years banking experience, BCR is the second most profitable Bank in Rwanda where in 2012 return on Equity was at 30.9%, and the same year return on assets was at 4.1%.
Statistics showed that in 2012 BCR profits after Tax Frw4.2billion up from Frw2.86billion in 2011.
BCR Deposits in 2012 counted Frw 85bln up from Frw 70.6billion in 2011.
“We are quite happy we have strength as a financial institution” Sanjeev said.
With its customer strength, BCR has been recognized by Rwanda Revenue Authority for being the first bank to successfully implement electronic Tax payment services (Bcr eTax) and Global Finance has recognized BCR as the Best Bank in Rwanda for the last five years including-2013.
In 2008 and 2009, Rwanda Development Board successively awarded BCR as Sector Winner Customer Care and best Innovator and Technology transfer.
Olive Mukansengayire, an Official in Judicial Department in BCR said that she believes in BCR due to its outstanding performance as a financial institution operating in Rwanda.
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