KCB Group PLC says it has received regulatory approval by the National Bank of Rwanda (BNR) to merge its newly acquired Banque Populaire du Rwanda (BPR) and KCB Bank Rwanda.
This means the two banks will now operate as a single entity named BPR Bank Rwanda Plc, with KCB Group as the majority shareholder with effect from 1st April 2022. The combined entity will become the second largest bank in the Rwanda banking industry.
“The success of this integration now allows our customers to enjoy exciting retail and wholesale offerings and the wide branch network is an opportunity for us to roll out products and services to MSMEs and the rural community,” said KCB Group CEO and MD Joshua Oigara.
Mr. George Odhiambo, who was the Managing Director of KCB Bank Rwanda, has been appointed as the Managing Director BPR Bank Rwanda.