Commercial Bank of Africa (Rwanda)
| Private Subsidiary | |
| Industry | Financial Services |
| Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
| Website | Homepage |
Commercial Bank of Africa (Rwanda) (CBAR) is a proposed commercial bank in Rwanda.
Overview
Once Banque Nationale du Rwanda, the nation's banking regulator and central bank issues a commercial banking licence, the Commercial Bank of Africa (Rwanda) will be the fifth Kenyan owned bank subsidiary to launch its operations in Rwanda.[1] The bank will be a member of the Commercial Bank of Africa Group, a financial services group with its headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania and Uganda.
History
On November 23, 2015 the CBA Group announced it was seeking a licence to start operating in Rwanda 2016. As of 24 November 2015, the group was yet to give further information on bank's set up.[1]
Ownership
Commercial Bank of Africa (Rwanda) is a wholly owned subsidiary of Commercial Bank of Africa, a large, privately owned commercial bank based in Nairobi, Kenya.
Commercial Bank of Africa Group
Upon registration and licensing, Commercial Bank of Africa (Rwanda) will be a member of the CBA Group of companies. Companies that compose the CBA Group include but are not limited to the following:[2]
- Commercial Bank of Africa (Kenya) – Nairobi, Kenya
– 100% shareholding - Commercial Bank of Africa (Tanzania) – Dar es Salaam, Tanzania
– 100% shareholding - Commercial Bank of Africa (Uganda) – Kampala, Uganda
[3] – 100% shareholding - Commercial Bank of Africa (Rwanda) – Kigali, Rwanda – In development[1]
- CBA Insurance Agency Limited – Nairobi, Kenya – 100% shareholding
- CBA Capital Limited – Nairobi, Kenya – 100% shareholding
- CBA Property Holdings Limited – Nairobi, Kenya – 100% shareholding
- AIG Kenya Insurance Company Limited – Nairobi, Kenya – 33.33% shareholding. The balance is held by the American International Group.[4]
See also
References
- 1 2 3 Ngigi, George (24 November 2015). "CBA seeks licence to start operating in Rwanda next year". Business Daily Africa. Nairobi: Nation Media Group. Retrieved 24 November 2015.
- ↑ "Commercial Bank of Africa Limited - Medium Term Note Programme - Information Memorandum" (PDF). Commercial Bank of Africa Limited. November 21, 2014. Retrieved December 3, 2014.
- ↑ Commercial Bank of Africa Expected To Enter Uganda In 2012
- ↑ About AIG Kenya