I&M Bank (Rwanda) Plc strengthens Kicukiro network with new branch at DP World
I&M Bank (Rwanda) Plc officially opened a new branch on Thursday, October 31, in Masaka Sector, Kicukiro District, located within Dubai Ports World Rwanda, the country’s largest inland cargo facility established in 2019.
This branch launch supports I&M Bank’s expansion strategy and marks the second branch opened in Kicukiro this year, following the launch of a branch in Niboye Sector in May.
Speaking at the launch, Benjamin Mutimura, Managing Director of I&M Bank (Rwanda) Plc, noted the bank’s return to Kicukiro for the second time as a response to the area’s rapid development.
Mutimura emphasised the Bank’s flexible loan offerings tailored to meet diverse customer needs.
“We offer long-term loans, up to 25 years, for those interested in building projects, as well as shorter-term options. This flexibility is designed to ease repayment for all our customers,” he said.
He noted the importance of saving saying, “We continue to encourage people to save, as the pandemic showed us all that saving should be a priority. These services, along with many others, are available to residents of Kicukiro District.”
“We aim to make this a one-stop centre where customers can access a full range of services, from handling logistics payments and tax obligations to securing loans if they’re short on funds. Our goal is to align with the country’s vision of streamlined services, making banking easier and faster for our customers,” he said.
Mutimura noted I&M Bank's dedication to supporting development projects, focusing especially on small and medium enterprises (SMEs). Since last year, the Bank has doubled its SME loan offerings, providing Rwf250 million in collateral-free loans and currently extending up to Rwf350 million to qualified businesses.
Additionally, I&M launched a hospitality sector initiative with Rwf120 million in loans at a 9 per cent interest rate to support hotels and tourism. For agriculture, the bank offers loans between 8-12 per cent to help farmers access necessary tools and resources, aiming to promote growth and modernisation in the sector.
Mutimura reaffirmed the Bank’s commitment to aligning with Kicukiro District’s development goals. “We want to make the District’s vision our own. We are committed to working together, creating financial products that support the District’s projects and ambitions,” he said.
Mayor of Kicukiro District, Antoine Mutsinzi, noted the impressive growth Masaka Sector has undergone over the past three years, transforming from a local sector into a hub of rapid development.
