BPR – Atlas Mara Introduces New CEO

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By Denyse Tuyishime

Maurice Toroitich, the new Chief Executive Officer of BPR Atlas Mara talking to the media

Banque Populaire du Rwanda – BPR Atlas Mara has introduced a new Chief Executive Officer (CEO) of the Bank Maurice Toroitich recently appointed to this top position.

“For me joining BPR I wanted to complement the Bank’s target to stay the largest and smartest bank in customer care and bringing financial solutions to clients and the country in general,” Toroitich said on Wednesday.

BPR on Wednesday opened a new branch at Kisimenti- Remera sector, a banking hub where all commercial banks have branches.

While officially opening the branch Peace Uwase Masozera, the head of financial stability at Central Bank said BPR staff will need to work hard for the market competition it enters.

“Kisimenti is a banking home, this will put more pressure on the BPR staff to work hard for it to stay on the top which will also boost the country’s economy,” Masozera said.

Toroitich said Kisimenti is the model branch of BPR going by its state-of-art since the fusion last year. By the end of the year, over 50 branches will be reshaped including Musanze and Nyamata that are also opening soon according to Officials.

“Its beauty and colors brands the bank,” said Toroitich.

The new BPR branch is a relocation from Niboye branch that closed last month because the bank wanted to be in vicinity of its customers in a business area like Remera.

BPR also became the largest bank by branch locations. So far the Bank has 194 branches.

According to the monetary policy and financial stability statement released in August by the Central Bank, the Rwandan financial sector is growing. As measured by total assets relative to GDP stood at 54.3 percent in June 2017 up from 33.8 percent in June 2010.

While combined Banks and Microfinances, their contribution to the economy rose from 13% of the GDP in June 2010 to 24.3% in June 2017. The government’s target is to achieve 30% credit to GDP by 2020.

Since 2016 when Atlas Mara ltd purchased 62% of the shares in BPR and merged it with BRD Commercial Bank, BPR the name of the combined entity became Rwanda’s second largest Bank by assets estimated at more than $325 million.

For Toroitich who until September 1 was managing director of Kenya Commercial Bank-Rwanda for the last 8 years said, “KCB, I&M Bank; BPR and other Banks all have a role to play in solving the country’s financial sector challenge.”

 

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