Invest bank is set to start operations in Rwanda early next year. It will be the latest commercial bank in the country following BRD Commercial bank and Crane Bank Rwanda which started operations this year. According to a statement, the bank will introduce a series of innovative products for its clients. The bank also says it will introduce new financing models that can achieve social impact in areas such as higher education and technology. “IBR will offer the
most comprehensive customer service in the industry. From our dedicated client support teams, to opening seven days a week and hosting free expert workshops and seminars,” reads the statement. Rwanda’s financial sector remains dominated by the banking sector which represents 67.6 per cent of its total assets, according to the central bank. The industry balance sheet measured by total assets grew by 17 per cent during the first half of this year, from Rwf1.5 trillion end December 2013 to Rwf1.8 trillion end of June 2014. The growth was mainly attributed to the loans to the private sector which increased by 7.2 per cent during the period, from Rwf843.9 billion to Rwf904.5 billion. On the liability side, deposits grew by 20.6 per cent during the period, from Rwf1 trillion to Rwf1.2 trillion.
