BCR Bank to Expand Patnership with SACCOs

{{The Commercial Bank of Rwanda (BCR) has announced plans to partner with microfinance institutions in the country to increase services to its clients.}}

Sanjeev Anand, the Managing Director of BCR said, “BCR considers MFIs and SACCOs as important partners. They believe we have good services that benefit them and also benefit us.”

Currently BCR is working with 40 SACCOs countrywide; however Sanjeev said “BCR would like to have more.”

“We believe we can use their network because they have a great number of customers and they believe they can use our network to increase distributorship.” He explains.

Among the services that BCR has to provide include an Accounting literacy program for SMEs like SACCOs and MFIs.

“Every quarter, we train them in management and accounting for SMEs and we don’t charge anything for it.” Sanjeev added that those SMEs, who were not able to access credit, are able to get it as a result of training.

In 2012, BCR loaned out about Frw 2 billion to MFIs.

BCR Manager Faustin Byishimo said, Corporate Banking services, provided to financial institutions include; capacity building, giving them computers and e-banking services providing interest of their deposited money as well as transporting money from SACCOs to BCR.

{(Right) Sanjeev Anand, the Managing Director of BCR}