- Rwf 1,943.32 Billion in total assets as of March 2013.
- 72% of Rwandan adults are financially included, with 42% of the Rwandan population in the formal financial system (23% served by commercial banks and 33% served by non-bank formal institutions), and 58% use informal financial mechanisms (Source: BNR and FinScope, 2012).
- The banking return on average equity 12.2% as of March 2013.
- An operational Capital Markets Authority (CMA) to undertake public education and awareness and scale up financial literacy among Rwandans.
- Sector Profitability: Rwf 13.4 Billion as of June 2012.
- High Interest rates but in line with the region.
- The banking sector is comprised of 9 commercial banks, 3 microfinance banks, 1 development bank and 1 cooperative bank
- The microfinance sector is comprised of 490 Institutions of which 11 are limited companies and 479 SACCOs (including 416 UMURENGE SACCOs).
- There are 12 insurance companies (7 non-life insurers, 3 life insurers and 2 public insurers).
- 1 public pension fund, the Rwanda Social Security Board and around 40 private pension schemes.
- 105 operational forex Bureaus
The 3 largest local banks are:
- Banque de Kigali with a market share of 31% of total banking assets and ˜ 50 % share of the total commercial bank profitability (BK 2011).
- Banque Populaire du Rwanda (BPR): 65% cooperative members, 35% Rabobank.
- Banque Commercial du Rwanda (BCR): 80% I&M from Kenya, 20% GoR.
Ecobank, Access Bank, Equity bank and Kenya Commercial Bank are among the large regional banks with a presence in Rwanda, but no international bank yet.
- Commercial bank products and services particularly in rural areas.
- Competitive loan facilities.
- Agricultural products/services financing.
- Development banks especially to finance SMEs.
- Microfinance opportunities.
- Investment banking services.
- Training of financial sector professionals.
- Insurance services especially re-insurance.
- Equity and bonds purchases at Rwanda’s capital market.
- Provision of technical ancillary services in areas like brokerage and actuarial loss assessment.
- Provision of life policies and other innovative assurances like agriculture and medical schemes, etc.
- Fund management including private equity, fund of funds, wealth management, etc.
- Institutional and human capacity building in capital and financial markets.
- Business process outsourcing (BPO) including back office operations, data processing, payment processing, e-procurement for financial services.