Fina Bank (Rwanda)
Encyclopedia
Fina Bank, is a commercial bank
in Rwanda. The bank is one of the ten (10) licensed commercial bank
s in the Republic of Rwanda.
, the country's Central Bank
, due to managerial issues. In 2004, Fina Bank, at that time, a Kenyan, commercial bank acquired BACAR. Since then, Fina Bank has opened up banking operations in Uganda
as well, forming the Fina Bank Group
.
Fina Bank (Rwanda) opened for business in 2008, with the redesign and renovation of the new Head Office. The bank's principal activities comprise of corporate banking, international trade financing and retail banking. The bank serves large corporations, established medium and small businesses as well as salaried workers.
, headquartered in Nairobi
, Kenya
, with banking operations in Kenya
, Rwanda
and Uganda
.
. The Chairman of the Board
is Macharia Njeru, one of the non-executive directors. The daily activities of the bank are supervised by a ten-person Senor Management Team. The Managing Director is Rao Bavalida.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Rwanda. The bank is one of the ten (10) licensed commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
s in the Republic of Rwanda.
History
The beginnings of the bank in Rwanda can be traced back to 1983, when a bank known as BACAR, was established. It became one of the first privately owned commercial banks in Rwanda. Sometime prior to 2004, BACAR was taken over by the National Bank of RwandaNational Bank of Rwanda
The National Bank of Rwanda is the central bank of Rwanda. The bank was founded in 1964 and is quartered in Kigali; it operates Rwanda's principal securities exchange, the Rwanda Over The Counter Exchange.-History:...
, the country's Central Bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
, due to managerial issues. In 2004, Fina Bank, at that time, a Kenyan, commercial bank acquired BACAR. Since then, Fina Bank has opened up banking operations in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
as well, forming the Fina Bank Group
Fina Bank Group
Fina Bank Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda.-History:...
.
Fina Bank (Rwanda) opened for business in 2008, with the redesign and renovation of the new Head Office. The bank's principal activities comprise of corporate banking, international trade financing and retail banking. The bank serves large corporations, established medium and small businesses as well as salaried workers.
Ownership
Fina Bank (Rwanda) is 100% owned by the Fina Bank GroupFina Bank Group
Fina Bank Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda.-History:...
, headquartered in Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, with banking operations in Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
.
Branch Network
As of May 2010, Fina Bank (Rwanda) maintains branches at the following locations:- Main Branch - 20 Boulevard de la Révolution, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Remera Branch - Remera, KigaliKigaliKigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
- Kibungo Branch - KibungoKibungoKibungo is a city in Ngoma district in the Eastern Province of Rwanda, and was the capital of the now defunct Kibungo Province.- Kibungo City :Kibungo is located about 100km from Kigali, along the main road to Tanzania...
, Eastern Province - Kibuye Branch - KibuyeKibuyeKibuye is a city in Karongi district, and the capital of Western Province in Rwanda. The city lies on the eastern shore of Lake Kivu, about halfway down, and between Gisenyi and Cyangugu. It is known as a beach resort and is home to a genocide memorial marking the massacre of 90% of the town's...
, Western Province - Gisenyi Branch - GisenyiGisenyiGisenyi is a city in Rubavu district in the Western Province of Rwanda. Gisenyi is contiguous with Goma, the city across the border in the Democratic Republic of the Congo. The population of the city is about 106 000 .-Description:...
, Western Province - Ruhengeri Branch - RuhengeriRuhengeriRuhengeri is a city and capital of Musanze District in the Northern Province of Rwanda. Some sources now refer to the city itself as Musanze, after the district in which it lies. It lies near the twin lakes of Lake Burera and Lake Ruhondo and is the gateway city to Volcanoes National Park and the...
, Northern Province - Nyirangarama Branch - Nyirangarama, Rulindo District, Northern Province
- Nyabugogo Branch - Nyabugogo, Northern Province
- Gitarama Branch - Gitarama, Southern Province
- Musanze Branch - MusanzeMusanzeMusanze is a district in the Northern Province of Rwanda. Its capital city is Ruhengeri, which is also sometimes known as Musanze.- Geography and tourism :...
, Northern Province - Ruhango Branch - RuhangoRuhangoRuhango is a town and capital of the Ruhango District in Southern Province, Rwanda....
, Southern Province
Governance
The activities of Fina Bank (Rwanda) are directed by an eight-person Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
. The Chairman of the Board
Chairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
is Macharia Njeru, one of the non-executive directors. The daily activities of the bank are supervised by a ten-person Senor Management Team. The Managing Director is Rao Bavalida.
See also
- List of banks in Rwanda
- Economy of RwandaEconomy of RwandaRwanda is a rural country with about 70% of the population engaged in agriculture. It is the most densely populated country in Africa; is landlocked; and has few natural resources and minimal industry. Primary exports are coffee and tea...
- Fina Bank (Uganda)Fina Bank (Uganda)-Overview:As of February 2009, the bank is a small, fast-growing banking institution, providing commercial banking services to individuals and small to medium sized corporate clients. The bank is a member of the Fina Bank Group, which includes Fina Bank and Fina Bank ...
- Fina Bank (Kenya)Fina Bank (Kenya)-Overview:As of September 2010, the bank is a small, fast-growing banking institution, providing commercial banking services to individuals but its emphasis is to serve small and medium-sized corporate clients . The bank is the flagship institution of the Fina Bank Group, which includes Fina Bank ...
- Fina Bank GroupFina Bank GroupFina Bank Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda.-History:...