Kigali, July 17, 2024 – The Rwanda Bankers’ Association (RBA) has launched its inaugural State of the Banking Industry Report (SBIR). The report was launched on July 11, 2024, at the Kigali Marriott Hotel. The SBIR dissemination event brought together, bank CEOs, representatives from the National Bank of Rwanda and other regulatory agencies, microfinance and insurance institutions, and regional and international financial development institutions. In his opening remarks, Tony Francis Ntore, CEO of RBA, highlighted that the report represents the collective effort and dedication of the RBA Research Center and the invaluable contributions from members’ banks. “The report provides deep insights into key aspects of our banking industry, including trends, market dynamics, profitability, and the sector’s evolution,” Tony said. The State of the SBIR provides an in-depth overview of Rwanda’s banking sector, examining key performance indicators, asset quality, liquidity, and profitability trends. It also explores the impact of regulatory changes, technological advancements, and macroeconomic factors on the industry. The report aims to inform stakeholders, support strategic planning, and enhance the overall stability and growth of the banking sector. The 1st vice-chairperson of RBA, Dr Diane Karusisi, emphasized the RBA’s unwavering dedication to the growth and development of the Rwandan banking industry through the process of gathering, analyzing, and utilizing data to create insights and knowledge. “This milestone is not only a reflection of the hard work and commitment of our research team but also a testament to the strength and resilience of our association. It is a testament to the power of collaboration, and the solid determination to succeed,” she said. Jean Bosco IYACU, CEO of Access to Finance Rwanda (AFR), expressed his support for the initiative. AFR has partnered with RBA to establish the RBA Research Centre. “The research center is crucial for providing the insights needed to drive innovation and development in Rwanda’s banking sector. The unwavering support from AFR demonstrates our commitment to financial inclusion and sustainable growth,” Jean Bosco stated. He also emphasized the need to incorporate the findings of the #FinScopeSurvey 2024, to enhance financial inclusion by supporting the banking industry to develop tailored products that meet the needs of underserved communities. While closing the SBIR dissemination event, Thierry KALISA, Chief Economist of the National Bank of Rwanda, emphasized the importance of partnership between regulatory agencies, the banking sector, and other stakeholders to ensure a resilient and innovative banking industry and the whole financial sector. The SBIR can be accessed at https://rba.rw/report/state-of-the-banking-industry-report-2024.pdf
