NCBA Bank Rwanda

{{EngvarB|date=August 2017}} {{Use dmy dates|date=August 2017}} {{Infobox company | name = NCBA Bank Rwanda | logo = | type = Subsidiary | foundation = {{start date and years ago|df=yes|2016|12|01}} | location = Kigali Heights, 8th Floor,<br/> No. 772, KG7 Avenue, Boulevard de L’Umuganda, Kigali, Rwanda | key_people = '''Benjamin M Rugangazi'''<br/>Chairman<br/>'''Lina Higiro'''<br/>Managing Director<ref name="1R">{{cite web|newspaper=New Times (Rwanda) | url=http://www.newtimes.co.rw/business/cba-bank-rwanda-new-ceo | title=CBA Bank Rwanda gets new CEO |access-date=11 July 2018 | date=9 July 2018 |first=Collins | last=Mwai |location=Kigali}}</ref> | assets = RWF:117 billion (US$107 million) (Q3:2022)<ref name="DataR"/> | revenue = {{loss}}Aftertax:RWF:1.363 billion (US$1.463 million) (Q3:2019)<ref name="DataR"/> | num_employees = 98 (2022)<ref name="Due"/> | parent = NCBA Group Plc | industry = Banking | products = Loans, Savings, Transaction accounts, Investments, Debit Cards, Credit Cards, Mortgages | homepage = {{ url |https://rw.ncbagroup.com/ }} }}

thumb|Logo of NCBA '''NCBA Bank Rwanda''', formerly ''Commercial Bank of Africa (Rwanda)'', is a commercial bank in Rwanda.<ref name="Go"/> NCBA Bank Rwanda is one of the Kenyan-owned bank subsidiaries to launch operations in Rwanda.<ref name="To">{{cite web|url=http://www.newtimes.co.rw/section/read/206679/ | title=Another Kenyan bank set to enter local financial market | access-date=20 February 2018 |date=30 December 2016 | author=New Times Staff |newspaper=New Times (Rwanda) | location=Kigali}}</ref> The bank is a subsidiary of the NCBA Group Plc, a financial services group with headquarters in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, Tanzania, Uganda and Ivory Coast.<ref name="Due">{{cite web| url=https://www.theeastafrican.co.ke/business/CBA-takes-over-Rwanda-bank/2560-4350788-g6743tz/index.html |title=CBA takes over Rwanda bank after closing $9.69 million buyout |date=21 March 2018 |access-date=21 March 2018 |newspaper=The EastAfrican | first=Mugambi |last=Mutegi |location=Nairobi}}</ref>

==Overview== As of 30 September 2019, the bank's total assets were valued at RWF:30.23 billion (US$32.44 million), with shareholders' equity of RWF:7.015 billion (US$7.53 million).<ref name="DataR">{{cite web|url=https://rw.ncbagroup.com/wp-content/uploads/2020/01/CBA-Rwanda-PLC-Financial-Statements-2018_33x25.8cm_Ended-30-November-....pdf |title=Financial Statements For The Period Ended 30 September 2019 |publisher=NCBA Bank Rwanda |date=30 November 2019 |author=NCBA Bank Rwanda |access-date=18 April 2020 | location=Kigali}}</ref>

== History == In November 2015, the CBA Group, Kenya's largest privately owned financial services provider publicly announced their intention to enter the Rwandan market.<ref name="In">{{cite web |url = http://www.businessdailyafrica.com/CBA-seeks-licence-to-start-operating-in-Rwanda-next-year--/-/539552/2968734/-/item/0/-/xv8iuk/-/index.html |title = CBA seeks licence to start operating in Rwanda next year |date = 24 November 2015 |accessdate = 30 August 2017 |first = George |location = Nairobi |last = Ngigi |newspaper = Business Daily Africa |archive-date = 4 August 2017 |archive-url = https://web.archive.org/web/20170804054248/http://www.businessdailyafrica.com/CBA-seeks-licence-to-start-operating-in-Rwanda-next-year--/-/539552/2968734/-/item/0/-/xv8iuk/-/index.html |url-status = dead }}</ref> The group applied for a banking licence from the Rwanda authorities.<ref name="In"/>

In December 2016, the National Bank of Rwanda issued CBA Rwanda with a micro-finance banking licence.<ref>{{cite web| accessdate=30 August 2017 |newspaper=The EastAfrican | url=https://www.theeastafrican.co.ke/rwanda/Business/Commercial--Bank-of-Africa-enters-Rwandan-market/1433224-3508954-sgulys/index.html|last=Kabona |title=Commercial Bank of Africa enters Rwandan market | first=Esiara|date=7 January 2017 | location=Nairobi}}</ref><ref>{{cite web |date=7 June 2017 |accessdate=30 August 2017 |location=Kigali |url=https://www.bnr.rw/fileadmin/AllDepartment/FinancialStability/List_of_licensed_banks-June_2017.pdf |title=List of Licensed Banks as of June 2017: Microfinance Banks |publisher=Banque Nationale du Rwanda (BNR) |author=BNR |archive-url=https://web.archive.org/web/20170804055916/https://www.bnr.rw/fileadmin/AllDepartment/FinancialStability/List_of_licensed_banks-June_2017.pdf |archive-date=4 August 2017 |url-status=dead }}</ref> In May 2017, CBA Rwanda, a microfinance institution, made public its intention to acquire Crane Bank Rwanda, a commercial bank, whose parent company in Uganda had been sold and the buyers of the parent did not want to keep the Rwandan subsidiary.<ref>{{cite web | url=http://allafrica.com/stories/201705100118.html | title=Rwanda: CBA Set to Acquire Crane Bank Rwanda | accessdate=30 August 2017 | date=10 May 2017 | first=Collins | last=Mwai | newspaper=New Times (Rwanda) via AllAfrica.com | location=Kigali | archive-url=https://web.archive.org/web/20170830193948/http://allafrica.com/stories/201705100118.html | archive-date=30 August 2017 | url-status=dead }}</ref> On 15 June 2017 CBA Group signed a definitive sale and purchase agreement with DFCU Bank, the owners of Crane Bank Rwanda. The acquisition required regulatory approval in Rwanda, Kenya and Uganda.<ref name="Hom">{{cite web |author=CBA |accessdate=30 August 2017 |date=15 June 2017 |url=http://cbagroup.com/rwanda/newsroom/cba-to-acquire-crane-bank-rwanda-limited/ |title=CBA to Acquire Crane Bank Rwanda Limited |publisher=Commercial Bank of Africa (CBA) |location=Nairobi |archive-date=30 August 2017 |archive-url=https://web.archive.org/web/20170830193845/http://cbagroup.com/rwanda/newsroom/cba-to-acquire-crane-bank-rwanda-limited/ |url-status=dead }}</ref>

==Commercial bank status== On Monday, 21 February 2018, The EastAfrican reported that the requisite approvals for the purchase of Crane Bank Rwanda had been received from the Bank of Uganda, the Central Bank of Kenya and the National Bank of Rwanda. The acquired assets and liabilities, including two operational branches in Kigali, are expected to be merged with the existing micro-finance operations of CBA Rwanda.<ref name="Go">{{cite web|date=20 February 2018 |url=https://www.theeastafrican.co.ke/business/CBA-buys-out-Crane-Bank-Rwanda/2560-4312612-ac8m75/index.html |title=Commercial Bank Africa buys out Crane Bank Rwanda |access-date=20 February 2018 |newspaper=The EastAfrican |first=Esiara |last=Kabona | location=Nairobi}}</ref> On 19 March 2018, the refurbished branches of Crane Bank Rwanda, opened as CBA Bank Rwanda, a commercial bank.<ref name="Due"/><ref name="3R">{{cite web|title=Gatete roots for cross-border investments as CBA launches operations in Rwanda |url=http://www.newtimes.co.rw/section/read/231350/ |date=21 March 2018 |first=Peterson |last=Tumwebaze |newspaper=New Times (Rwanda) |location=Kigali |access-date=14 July 2018}}</ref>

==Group merger== In September 2019, Commercial Bank of Africa Group, the parent company of the Commercial Bank of Africa (Rwanda), received regulatory approval from the Central Bank of Kenya and from the Kenya Ministry of Finance, to merge with the NIC Bank Group, effective 1 October 2019. It is expected that this bank will re-brand to '''NCBA Bank Rwanda''', subject to the approval of the National Bank of Rwanda.<ref name="11R">{{cite web| url=https://af.reuters.com/article/idAFKBN1WC187-OZABS | archive-url=https://web.archive.org/web/20190928114218/https://af.reuters.com/article/idAFKBN1WC187-OZABS | url-status=dead | archive-date=28 September 2019 | title=Kenya Central Allows Merger of Lenders NIC and CBA Group | date=27 September 2019 |publisher=Reuters.com |access-date=5 October 2019 |author=George Obulutsa}}</ref><ref name="12R">{{cite web|url=https://www.kbc.co.ke/ncba-group-unveils-new-logo-as-it-commences-operations/ |title=NCBA Group Unveils New Logo As It Commences Operations |publisher=Kenya Broadcasting Corporation |date=3 October 2019 |access-date=5 October 2019 | author=Claire Wanja |place=Nairobi}}</ref> On 13 January 2020, NCBA Bank Rwanda received a new commercial banking license from the National Bank of Rwanda.<ref name="13R">{{cite web| url=https://www.bnr.rw/financial-stability/bank-supervision/licensed-banks/ |title=List of Licensed Banks As of March 2020 |date=31 March 2020 |publisher=National Bank of Rwanda |author=National Bank of Rwanda |access-date=18 April 2020 |location=Kigali}}</ref><ref name="14R">{{cite web |url=http://venturesafrica.com/ncba-rwanda-receives-operating-license/ |title=NCBA Rwanda Strengthening Position In East Africa After Securing Operating License |publisher=Venturesafrica.com |access-date=18 April 2020 |author=Ventures Africa |format=Cached from the original on 16 April 2020 |archive-date=17 January 2020 |archive-url=https://web.archive.org/web/20200117023730/http://venturesafrica.com/ncba-rwanda-receives-operating-license/ |url-status=dead }}</ref>

==Branches== # Nyarugenge Branch: 10249 Ville De Kigali, Nyarugenge, Kigali # {{lang|fr|La Bonne Adresse Branch: 5447 La Bonne Adresse Building, 76 Avenue de la Revolution, Kigali}} # Kigali Heights Branch: Kigali Heights Shopping Complex, Kigali. ('''Main Branch''')<ref name="Due"/><ref name="15R">{{cite web| url=https://sokodirectory.com/2018/03/cba-commences-banking-in-rwanda-after-acquiring-crane-bank-rwanda/ |title=CBA Commences Banking in Rwanda after Acquiring Crane Bank Rwanda |last=Korir |first=Isaac |date=20 March 2018 |access-date=21 March 2018 | publisher=Sokodirectory.com |location=Nairobi}}</ref> # Kayonza Branch # Nyabugogo Branch # Musanze Branch

== See also == * List of banks in Rwanda * National Bank of Rwanda

== References == {{Reflist}}

==External links== *[https://rw.ncbagroup.com/about-us/ Official Website]

Category:Banks of Rwanda Category:NCBA Group Plc Category:Banks established in 2016 Category:2016 establishments in Rwanda Category:Organisations based in Kigali Category:Economy of Kigali