Published by Wanda Rich
Posted on November 29, 2024
Global Banking & Finance Review® is pleased to announce that I&M Bank (Rwanda) Limited has been awarded Best Retail Bank Rwanda 2024 and Best SME Bank Rwanda 2024 at this year’s Global Banking & Finance Awards®. These honors reflect I&M Bank Rwanda’s commitment to delivering exceptional retail and SME banking services, underscoring its role as a trusted partner for individuals and businesses across Rwanda.
With a focus on innovation and a deep understanding of customer needs, I&M Bank Rwanda has consistently enhanced its retail offerings, making banking more accessible through digital platforms and tailored financial solutions. At the same time, its SME-focused initiatives, including impactful partnerships and specialized financing programs, have fostered growth among small and medium-sized enterprises, solidifying the bank’s position as a leader in this critical sector.
I&M Bank Rwanda’s retail banking offerings cater to individual customers’ needs through a comprehensive range of digital banking services. By enhancing mobile and online banking platforms, the bank provides seamless access to essential banking products like transaction accounts, home loans, and vehicle financing. This focus on digital innovation aligns with Rwanda’s financial inclusion goals and offers customers a convenient, modern banking experience.
As part of its commitment to SMEs, I&M Bank Rwanda established a one-stop financial center that delivers a full range of tailored financial services designed to meet the specific needs of SMEs. Through the “Agiserera na I&M Bank” campaign, the bank offers financing solutions tailored to local enterprises, addressing diverse asset financing needs. This campaign facilitates growth opportunities by allowing SMEs to leverage the value of their properties to qualify for loans, thereby unlocking resources for expansion and development.
To further empower SMEs and remove barriers to success, I&M Bank Rwanda partnered with Old Mutual to introduce “Icyashara” and “Heza Care”—innovative insurance products that address the unique challenges faced by small and medium-sized businesses. Additionally, the bank’s collaboration with SIDA and FMO has strengthened its impact through initiatives like a $5 million portfolio guarantee, which expands lending access for SMEs while reducing collateral requirements.
Wanda Rich, Editor of Global Banking & Finance Review®, commended I&M Bank Rwanda on its achievements: “I&M Bank Rwanda has demonstrated remarkable leadership in both retail and SME banking. Their dedication to digital transformation and targeted support for SMEs underscores their commitment to customer empowerment and sustainable growth. By creating tailored solutions for entrepreneurs, I&M Bank Rwanda is truly shaping the future of banking in Rwanda.”
Commenting on the award, Benjamin Mutimura, the CEO of I&M Bank Rwanda, expressed his gratitude for the recognition:
“We are honored to be recognized once again as the Best SME Bank in Rwanda. This award fuels our commitment to continue being the trusted partner for growth for SMEs in Rwanda. We are dedicated to creating innovative solutions and services that not only meet the financial needs of our customers but also delight them through exceptional service. This recognition motivates us to continue supporting the development of Rwanda’s entrepreneurial spirit and driving sustainable growth across the sector.”
About the Global Banking & Finance Awards®
Established in 2011, the Global Banking & Finance Awards® recognize excellence within the global financial industry. The awards celebrate institutions that excel in delivering innovative solutions, fostering growth, and leading positive industry change. For more information, visit https://www.globalbankingandfinance.com/.
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