Rwanda: Bank of Kigali Launches Personalized Private Banking Service

17 September 2023

Bank of Kigali has launched a new private banking service offering a personalized and exclusive banking experience to clients to enhance the quality-of-service delivery and value for money.

The new product launched on September 15 allows an individual BK client to interact with a relationship manager who is in charge of handling their bank account, responds to their financial inquiries, transactions, and other services without necessarily walking in at the branch.

According to Yves Kayihura, Head of Retail Banking at BK, the product is specific to clients with monthly earnings of Rwf2.5 million who are willing to be members of this club, paying a monthly fee for the services.

He said that the centre, hosted at MTN Rwanda headquarters, Nyarutarama, will initially provide this service based on the latter eligibility requirements but will later include other segments.

So far, the club has about 500 members.

Diane Karusisi, the CEO of Bank of Kigali, said that this is in line with the government's objective of development by bringing services closer to the people while honouring the clients' trust in the lender.

"We wanted to reach closer to our distinguished clients by allocating them a specialized customer relations officer who will serve them with financial advisory services including saving, investment, and insurance, among others."

While representing BK clients, Athanase Rutabingwa, a partner at MRB Attorneys, welcomed the development saying it is a timely innovation that gives value to individual clients of the lender.

He said: "We were used to corporate banking which caters for customized services to companies, but we didn't have one that offers personalized services to individuals. This will enable efficiency in terms of customer relations, providing faster and quality services."

Innovation is the way to go these days, noted Stephen Ruzibiza, CEO of the Private Sector Federation (PSF), who noted that consistent innovation is important for businesses to remain relevant in this era.

He said that this service of accompanying the clients in their financial journey at an individual level is commendable and plays a role in financial inclusion.

On another note, Karusisi disclosed that based on the request of many clients, the bank is considering opening a service center in the new Simba center, in the neighbourhood of Gacuriro, Gasabo District, to serve more people as the city continues to grow.

Bank of Kigali has been recognized as the best bank in Rwanda for the third consecutive year by Global Finance, an international magazine with an experience of 35 years in financial reporting.

The banking institution is a subsidiary of BK Group which has four other subsidiaries -- BK Insurance, BK TecHouse, BK Foundation and BK Capital.

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