Urwego Opportunity Bank

Urwego Opportunity Bank Ltd
Private Eye
Industry Financial Services
Founded 2007
Headquarters Kigali, Rwanda
Key people
Germaine Mukamusana, Ag. Chief Executive Officer[1]
Products Loans, Savings, Investments Remittances
Total assets RWF19 billion (2015)[2]
Number of employees
378[3]
Website Homepage

Urwego Opportunity Bank (Urwego), is a microfinance bank in Rwanda. The bank is one of the commercial banks licensed by the National Bank of Rwanda, the national banking regulator.[4] Established in 1997 as a purely Microfinance Institution (MFI) that was mostly popular among women at the time, Urwego Opportunity Bank is definitely Rwanda’s bank for all

History

Urwego Opportunity Bank of Rwanda, SA (Urwego), was created in July 2007, as a result of a merger between Urwego Community Banking SA (Urwego), and Opportunity International Bank of Rwanda SA (OIBR). Urwego, founded by World Relief Rwanda in 1997, was a leading microfinance institution (MFI) in Rwanda. Since 2004 Urwego had been operating as an independent and regulated MFI in the country with branches in Kigali and in the provinces. OIBR was established by Opportunity International, an international microfinance network dedicated to the development of transformational, commercial microfinance banks in developing countries.[5]

Overview

The bank is a licensed microfinance bank, operated along Christian principles, with services aimed at improving the economic, social and spiritual conditions of the communities that the bank serves. The bank focuses on serving Rwandans who are economically active but under banked. Services offered by Urwego include deposit accounts, savings accounts, individual loans, Trust Group Loans, village phone loans, home improvement loans, bicycle loans and school tuition loans. The bank also offers insurance services, business training and HIV/AIDS training.[6]

Ownership

According to the bank's website, the following corporate entities are shareholders in the bank. [7]

Urwego Opportunity Bank Stock Ownership
Rank Name of OwnerPercentage Ownership
1Hope International49%
2Opportunity International49%
3Opportunity International Deutschland1%
4World Relief1% Total100.00

Branch Network

As of April 2016, Urwego has eighteen fully functioning branches, seven of which, including the bank's headquarters, are located in the city of Kigali, Rwanda's capital. The other eleven full-service branches are located in the provinces. In addition to this, the bank has twenty-five other credit offices in various Rwandan districts. The full-service branches of the bank are located in the following locations:[8]

  1. Main Branch - KN 5 Remera (Umuyenzi Plaza Kisementi), Airport road, Kigali
  2. Kimironko Branch - Kimironko,, Kigali Kimironko KG 2 ST, Kigali
  3. Nyarugenge Branch - Nyarugenge Plot 1230, Avenue de la Paix, Kigali
  4. Kicukiro Branch - Kicukiro KK 494 ST , Kigali
  5. Nyabugogo Branch - Kigali
  6. Kigali City Market- Nyarugenge
  7. Gisozi Branch - KG 697 Samantha house, Kigali
  8. Muhanga Branch - Muhanga Plot 188, Muhanga District
  9. Rwamagana Branch - Rwamagana District
  10. Bugesera Branch - Bugesera District.
  11. Musanze District - Musanze District[9]
  12. Nyamata Branch- Bugesera plaza, airport Road. Bugesera District
  13. HUYE Branch- Huye Market, Ground Floor. Huye District
  14. Musanze Branch- Musanze district
  15. Gicumbi Branch- Gicumbi District
  16. Ngoma branch- Ngoma District
  17. Rubavu branch- Rubavu District
  18. Rusizi branch - Rusizi District

See also

References

This article is issued from Wikipedia - version of the 10/5/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.