Rwanda: BPR Offers Grace Period for Interest Payments

Banque Populaire du Rwanda (BPR) Atlas Mara has said it will offer its customers up to three months grace period for principal or interest payments to facilitate those struggling with Covid-19 impact.

The decision by BPR to give principal and interest moratoriums is meant to help them to overcome financial difficulties occasioned by the coronavirus outbreak and subsequent nation-wide lockdown

Maurice Toroitich, the Chief Executive of BPR, said the move will benefit all customers who will have been affected by the outbreak.

"This concerns any customer who can demonstrate that their business has been affected by Covid-19 because we understand many are facing cash flow problems," he said.

The Bank says it will accept all applications from its customers and consider giving moratoriums depending on the understanding of their customers' business.

The move could particularly reduce the strain on local firms and individuals whose income streams have been affected by the global pandemic consequently improving survival rates of firms.

BPR currently owns the largest network of branches in the country with majority of customers invested in trade and commerce - wholesale and retail, petroleum, just to mention but a few.

Toroitich says BPR's net loans currently stand at Rwf174 billion.

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