KCB Group Completes Acquisition of 62.06% Stake in Rwanda’s Banque Populaire

KCB Group has completed the acquisition of a 62.06 per cent stake in Banque Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V.

“The combined history of BPR and KCB will take the Group to greater heights, giving us a stronger edge to play a bigger role in driving the financial inclusion and economic empowerment agenda in the East African region,” KCB Group CEO and MD Joshua Oigara said. 

“This will increase our scale and improve our operating leverage by enabling us to deliver our existing retail and wholesale offerings to a wider base of customers in Rwanda while positioning the bank for sustainable growth in the long-term,” said Mr Oigara.

According to KCB Group, eventually, they will create one banking entity in Rwanda to be named BPR Bank by merging KCB Bank Rwanda and BPR.

The combined bank will become the second-largest bank in the industry.