I&M Bank Rwanda celebrated its golden jubilee marking 50 years of financial sector positioning in the region, driving innovation, and contributing to countries’ economic growth.

The celebration events held on June 13, at Kigali Serena Hotel, brought together the bank’s management at both country and group level, customers, partners, and stakeholders.

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In attendance was Richard Tusabe, Minister of State in charge of National Treasury at the Ministry of Finance and Economic Planning (MINECOFIN), John Rwangombwa, Governor of the National Bank of Rwanda and his deputy Soraya Hakuziyaremye, and other bankers and heads of telecommunication companies.

The lender’s story began in 1963 when Banque Commerciale du Rwanda (BCR) was incorporated as the first commercial bank in the country, and was rebranded as I&M Bank Rwanda in 2012 following a transformative 80 per cent shareholding acquisition by I&M Group, alongside European developmental financial institutions DEG and Proparco.

In 2017, it was listed on Rwanda Stock Exchange.

Bonaventure Niyibizi, Chairman of the board, I&M Bank Rwanda, commended the government’s leadership that has created a conducive environment for the financial sector growth, and the vision 2050 which encourages private sector-led growth.

He said this has allowed the designing of a strategy that places the bank at the centre of Rwanda’s transformation and improves the quality of the nation’s growth, mainly by ensuring that it is achieved from the emerging markets (MSMEs).

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Niyibizi said that the future will bring continued commitment to driving innovation, enhancing digital capabilities, and delivering exceptional value to customers.

"Our focus will be on sustainable growth, ensuring that we continue to support the development of Rwanda’s economy and contribute positively to the communities we serve.”

Minister Tusabe commended the lender’s consistent growth registered over the last five decades, not only in Rwanda but the region, and contributions made towards the common goal of national development.

"Celebrating the golden jubilee of serving Rwandans underpins a commitment of government and strong partnership with the private sector and other players of socio-economic transformation of our country.”

He invited other investors to take advantage of the conducive business environment in the country and consider investing in the financial sector, with the continued support of the government in achieving sustainable development.

In his remarks, Kihara Maina, Regional CEO of I&M Group, said the journey over the last 50 years saw I&M Bank grow in leaps and bounds and weather several storms and challenges.

He also conveyed the message of the Group Executive Director, Sarit Raja- Shah stating: "As we mark this milestone, we also gaze into the future. The forthcoming generation, committed to carrying forward the legacy must embrace the principles of integrity and trust and propel the bank to greater achievements. They should not change the direction of their moral compass and remember that their attitude will define their altitude.

"As we commemorate this golden jubilee let us reaffirm our commitment to uphold the values that have guided us so far, let us continue to innovate, adapt, and strive for greater heights, knowing that together, there is no challenge we cannot overcome.”

The ceremony also featured the awarding of different long-serving customers including Bralirwa Plc, the first-ever account opened in 1963 by Aloys Mutemberezi, and Jeanne Nyiranzage, the longest-serving employee for 40 years.

Nyiranzage said that throughout her journey working at I&M Bank, she got married and was able to raise her children who are now grown-ups and pursuing their careers across various fields.

"The environment was tough before the 1994 Genocide against the Tutsi but it is now very conducive under the good leadership that has ushered this country into development,” she said.

"Being recognised like this means so much to me, and it specifically portrays the value the bank attaches to its employees.”

The ceremony polished off with a vote of thanks from Benjamin Mutimura, Managing Director of I&M Bank Rwanda, to all participants, staff, and customers who have all contributed to the bank’s journey of success.

He affirmed the continued efforts in driving digital transformation to deliver quality service to the bank’s customers and finance the country’s socioeconomic growth.

I&M Bank Rwanda was awarded the prestigious EDGE Advanced Certification for its head office building by the International Finance Corporation (IFC), a member of the World Bank Group.

Besides the banking subsidiaries, I&M Group PLC has diversified its interests into insurance through I&M Bancassurance Intermediary, investment through I&M Capital, advisory through I&M Burbidge Capital, and real estate through I&M Realty.