NCBA Group Plc, also known as NCBA Bank Kenya Plc, a financial services conglomerate in East and West Africa has continued to expand its operations, with the opening of two new branches in Rwanda.
One branch was opened at Nyabugogo yesterday, a hot trade spot in Kigali city while another opens today in Kayonza district, Eastern Province, also a business hub of the area.
“We are pleased to be a part of the Nyabugogo and Kayonza community and look forward to playing an integral part in providing world class financial solutions to the community. As part of the NCBA strategy of scaling up our retail network, we believe in bringing our services closer to our customers,” NCBA Bank Rwanda CEO, Lina Higiro said.
The Bank closed the year 2021 with a record of Rwf70 billion in deposits and Rwf54 billions in loans. It is one of the commercial banks with the largest customer base with 2.8million clients. The majority of its clients are attracted by its digital platform dubbed “MoKash”.
MoKash is a digital mobile money service established by MTN Rwandacel where clients are enabled to save using MTN Mobile Money and to take short term loans.
According to NCBA, two new branches will form a total of five branches in Rwanda including Nyarugenge, La Bonne Adresse and Kigali Heights which serves as the headquarters.
“The financial institution has opened a branch in a high-end business center of Nyabugogo which is an excellent move. We expect it to help traders develop through easy access to loans,”Emmy Ngabonziza, Executive Administrator of Nyarugenge district said at the launch.
According to NCBA, the bank recorded an operating profit of Rwf236 million as of Dec 2021 from a loss of Rwf1.5Billion in December 2020.