AB Bank opened its first upcountry branch in Musanze yesterday in a move aimed at being more accessible to customers in the rural areas to increase financial inclusion. The branch will offer banking products for both corporate and individuals to support the region’s business development. Services to be offered at the same branch include Micro and SME loans, savings, deposits as well as a full range of other financial services including cheques, bank guarantees, payroll processing, local and international transfers among others. According to a statement from the bank, the bank will use the new branch to facilitate private sector development in the region. AB Bank Rwanda Ltd was established in January 2014 as a microfinance bank, and is part of the Access Holding, a network of 10 MFIs spread across Africa, Europe and South America. The bank is owned by highly reputable shareholder’s, who include Access Holding Microfinance (63.6%), IFC (19.9%), and KFW (16.5%). editorial@newtimes.co.rw
