BPR Bank Rwanda Plc

BPR Bank Rwanda PLC (BPR PLC; Kinyarwanda: Banki y'Abaturage y'u Rwanda), formerly Banque Populaire du Rwanda SA, is a commercial bank in Rwanda. The bank is licensed by the National Bank of Rwanda, the central bank and national banking regulator.[4]

BPR Bank Rwanda plc
IndustryFinancial services
Founded1975; 48 years ago (1975)
HeadquartersKigali, Rwanda
Key people
George Rubagumya
George Odhiambo
Managing Director
Productsloans, checking, savings, investments, debit cards
RevenueIncrease Aftertax:RWF:1.035 Billion (US$1.21 Million) (2017)[1]
Total assetsRWF:648 Billion (US$642 Million) (May 2022)[2]
Number of employees
~ 930 (2020)[3]


BPR is a retail (consumer) bank, offering products that include current and savings accounts, debit and credit cards, mortgages and loans. The bank offers consumer banking tools like mobile banking, as well as agricultural business expertise to corporate customers in the food and agri-business value chain.[5]

As of May 2022, BPR Bank Rwanda Plc was a large financial services provider in Rwanda. Its total asset valuation was RWF:648 billion (US$642 million), with 154 networked branches.[6]

In 2016, BPR employed about 1,400 staff at that time.[7] However, following the acquisition by Atlas Mara, and the merger with BRD Commercial, about 300 people were terminated.[8]

In 2021, KCB Group successfully completed the acquisition of Banque Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V. In 2022, in line with its strategy for expansion and enhanced financial inclusion across the region, KCB Group successfully amalgamated Banque Populaire du Rwanda and KCB Bank Rwanda Plc to form BPR Bank Rwanda Plc. The success of this merger makes BPR Bank Rwanda Plc the second largest bank in the Rwanda banking industry. It is reported that KCB Group spent about KSh:6.3 billion (approx. US$55 million) in the acquisition process.[6]


The origins of the bank can be traced back to 1975, when the first Banque Populaire du Rwanda was formed in the settlement of Nkamba, in the city of Kibungo, Eastern Province. Over the next ten years, many other similar banks were founded around the country. In 1986, the various autonomous Banques Populaires formed an umbrella called the Union des Banques Populaires du Rwanda (UBPR). UBPR was operated as a cooperative bank.[5]

In January 2008, following 33 years of experience in the Rwandan financial sector, UBPR was transformed from a cooperative bank into a commercial bank: Banque Populaire du Rwanda S.A.[9] In June 2008, Rabobank, the Dutch cooperative banking conglomerate, acquired 35 percent of the shares in BPR.[10] In July 2012, Visa Inc. certified the bank to issue visa-branded debit and credit cards.[11]

In January 2016, Atlas Mara completed its acquisition of a controlling stake of BPR after acquiring shares from existing shareholders[12] and merging the bank with the commercial banking business that was spun off Rwanda Development Bank.[13]

In April 2019, Equity Bank Group, the second largest banking conglomerate by assets in East Africa, unveiled plans to acquire 62 percent of Banque Populaire du Rwanda, in a share swap with the Atlas Mara Limited.[14] Negotiations between Equity Group and Atlas Mara were terminated in July 2020 when the parties failed to reach agreement on the valuation of the transaction. The COVID-19 pandemic contributed to the complexity of the negotiations.[15]


As of September 2022 the bank's stock was owned by the following shareholders, as outlined in the table below:[16]

Banque Populaire du Rwanda Stock Ownership
Rank Name of Owner Percentage Ownership
1 KCB Group
3 Other Minority Shareholders

Branch networkEdit

As of May 2022, BPR Bank Plc maintained a network of 154 full-service branches, and over 100 ATMs in all Regions of Rwanda.[2]


The activities of BPR Bank Plc are supervised by a seven-member board of directors representing commercial activities, operations, risk and the branch network, headed by the CEO. The current chairman of the board is George Rubagumya. The day-to-day affairs of the bank are managed by a ten-member executive team, led by the CEO, George Odhiambo.[17]

See alsoEdit


  1. ^ Banque Populaire du Rwanda (29 March 2018). "Audited Financial Statements for the Year Ended 31 December 2017" (PDF). Kigali: Banque Populaire du Rwanda. Retrieved 24 July 2018.
  2. ^ a b Hapa Kenya (4 May 2022). "KCB Group launches new banking subsidiary in Rwanda; BPR Bank Rwanda". HapaKenya.com. Nairobi. Retrieved 21 September 2022.
  3. ^ Victor Juma (5 July 2019). "Equity deal adds 2,641 new staff to payroll". Business Daily Africa. Nairobi. Retrieved 5 July 2019.
  4. ^ National Bank of Rwanda (30 June 2017). "List of Licensed Banks As of June 2017" (PDF). Kigali: National Bank of Rwanda. Archived from the original (PDF) on 4 August 2017. Retrieved 24 July 2018.
  5. ^ a b Banque Populaire du Rwanda (24 July 2018). "History of Banque Populaire du Rwanda". Kigali: Banque Populaire du Rwanda. Retrieved 24 July 2018.
  6. ^ a b Kepha Muiruri (4 May 2022). "KCB Unveils Merged Rwanda Operations". Citizen Digital. Nairobi, Kenya. Retrieved 9 May 2022.
  7. ^ Mbaraga, Robert (29 October 2016). "Banque Populaire to close 20 branches, trim workforce". The EastAfrican. Nairobi. Retrieved 24 July 2018.
  8. ^ Gahigi, Moses (5 February 2017). "BPR reconsiders closing branches in restructuring strategy". The EastAfrican. Nairobi. Retrieved 24 July 2018.
  9. ^ Tumwebaze, Peterson (20 April 2009). "BPR made over Rwf2b profits in 2008". New Times (Rwanda). Kigali. Retrieved 24 July 2018.
  10. ^ Magyambere, Gertrude (13 June 2008). "Rwanda: Dutch Bank Invests RWF6.5 Billion Into BPR". New Times (Rwanda) via AllAfrica.com. Retrieved 30 April 2015.
  11. ^ Nyesiga, Dias (30 July 2012). "BPR Gets Visa Certification". New Times (Rwanda) via AllAfrica.com. Retrieved 30 April 2015.
  12. ^ Gahigi, Moses (7 January 2018). "Atlas Mara completes acquisition of second Rwandan bank". The EastAfrican. Nairobi. Retrieved 24 July 2018.
  13. ^ Tumwebaze, Peterson (21 January 2016). "BPR-BRD Commercial merger to be completed in six months". New Times (Rwanda). Kigali. Retrieved 24 July 2018.
  14. ^ Collins Mwai (1 May 2019). "Equity Bank starts process to acquire 62% stake in BPR". New Times (Rwanda). Kigali. Retrieved 8 May 2019.
  15. ^ Aurélie M'Bida (6 July 2020). "Kenya: Why Equity Bank broke off talks with Atlas Mara". The African Report. Paris, France. Retrieved 30 May 2022.
  16. ^ Otiato Guguyu (6 September 2022). "KCB's stake in Rwanda unit rises by 10.8pc after merger". Business Daily Africa. Nairobi, Kenya. Retrieved 21 September 2022.
  17. ^ BPR Bank Plc (4 May 2022). "About Us: Our Leaders: Board of Directors". BPR Bank Plc. Kigali, Rwanda. Retrieved 21 September 2022.

External linksEdit