Equity Bank Rwanda opened a new branch in Kabuga, Kicukiro District on Friday, May 31.
The opening of the branch expands the bank’s nationwide network to a total of 47 branches.
During the launch, Hannington Namara, Managing Director of Equity Bank Rwanda, emphasised that this initiative aligns with the bank's ongoing efforts to enhance access to banking services for customers in Kabuga and its surrounding areas.
"Although some of you have been our clients, the challenge has been our distance from you. Today, we have bridged that gap and brought our services closer to you," Namara said.
"Let's collaborate and consider how we can drive our collective development. Whether it's through savings or loans, let's work together to secure our financial future," he added.
Faustin Masengesho, the branch manager, expressed his gratitude to the board of Equity Bank Rwanda for establishing a branch in Kabuga. He mentioned that although the branch began operations on April 16, today marked its official opening.
He also extended his gratitude to the clients in Kabuga for their loyalty and commitment as valued customers, and he appreciated the branch's staff members for their dedicated hard work.
Jean Havugimana, Head of SME Banking, assured the customers of the bank’s commitment in their development, saying, "I want to assure our clients that Equity Bank is committed to supporting their growth and development," he stated.
"Bringing a branch to Kabuga was clearly essential, as evidenced by the numbers. Since opening, clients from Kabuga have already taken out loans totaling up to Rwf1 billion.
"And as we speak, over 600 people have opened their accounts in Equity in just one month,” he added.
He emphasised that this strong demand illustrates the significant need for the bank’s services in Kabuga. He acknowledged that while the bank may have been delayed in arriving, they are now fully committed to supporting the community’s development.
"Additionally, we have removed barriers, allowing anyone to open an account regardless of their revenue. We have also addressed the issue of women being unable to secure loans due to lack of collateral. Now, you can apply for loans without needing collateral."
Alfred Nduwayezu, Executive Secretary of Masaka, representing the government, expressed his appreciation to Equity Bank for establishing a branch in Kabuga, highlighting the positive impact it will have on local businesses.
He also commended the staff members for their commitment to excellent customer service. He emphasised the crucial need for the branch in Kabuga, noting that it contributes to the district's development and provides convenient access to banking services, eliminating the need for long-distance travel for customers.
"Kabuga is a hub of activities that truly needed this branch. It will foster the development of both the citizens and the bank," he added.
Speciose Mukobwuteta, representative of the customers, expressed her gratitude to Equity Bank for opening a branch nearby, noting the convenience it brings to new residents like herself since she previously lived in Tanzania.
Additionally, she praised the bank for its excellent services, saying, "Where I lived in Dar es Salaam, we had Equity Bank, but I had never experienced such exceptional service and customer care as I have here. It's amazing that when I needed assistance, the branch manager personally helped me with everything," she added.
Equity Bank Rwanda is ranked second amongst Rwandan banks in terms of reported total assets as of December 31, 2023.
Equity Bank Rwanda had total assets of Rwf 989.7 billion, and a deposit base of Rwf 749.7 billion, with a network of 46 branches, 4,516 agents, 59 ATMs and 1,777 merchants. It has nearly 1.5 million customers.
Equity Bank Rwanda Plc (EBR) is a wholly owned subsidiary of Equity Group Holdings Plc and is licensed by the National Bank of Rwanda to provide banking services in Rwanda.