Housing Bank of Rwanda
Encyclopedia
Housing Bank of Rwanda also known as Rwanda Housing Bank, is a commercial bank
in Rwanda
. Its name in French is Banque de l'Habitat du Rwanda SA (BHR). The bank is one of the commercial bank
s licensed by the National Bank of Rwanda
, the national banking regulator.
, the country's Central Bank
, granted HBR a Provisional License to operate as a Housing Bank. The license was contingent upon the institution raising its share capital to the minimum of US$2.65 million dollars, to comply with then current banking laws in Rwanda.
On 25th February 2005, the shareholders of Banque de l'Habiatat du Rwanda (BHR), held an Extra Ordinary General Meeting and decided to increase their share capital to the required minimum, to change their name to Housing Bank of Rwanda and to change their mission from a mortgage company/real estate developer to a Commercial Bank that specializes in Housing Finance.
is owned by the following corporate entities:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Housing Bank of Rwanda Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Government of Rwanda||56.00
|-
|2||Social Security Fund of Rwanda||30.00
|-
|3||Rwanda Development Bank
||5.00
|-
|4||Bank of Kigali
||5.00
|-
|5||Commercial Bank of Rwanda
||1.66
|-
|6||MAGERWA||1.66
|-
|7||Office of Thé||0.68
|-
|||Total||100.00
|-
|}
, Rwanda
's capital. No other branches are known to exist at this time.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
. Its name in French is Banque de l'Habitat du Rwanda SA (BHR). The bank is one of the commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
s licensed by the National Bank of Rwanda
National Bank of Rwanda
The National Bank of Rwanda is the central bank of Rwanda. The bank was founded in 1964 and is quartered in Kigali; it operates Rwanda's principal securities exchange, the Rwanda Over The Counter Exchange.-History:...
, the national banking regulator.
History
The bank was opened in 1975, as a housing finance institution as well as a real estate developer. HBR was registered as a limited liability company. On 2nd July 2004, the National Bank of RwandaNational Bank of Rwanda
The National Bank of Rwanda is the central bank of Rwanda. The bank was founded in 1964 and is quartered in Kigali; it operates Rwanda's principal securities exchange, the Rwanda Over The Counter Exchange.-History:...
, the country's Central Bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
, granted HBR a Provisional License to operate as a Housing Bank. The license was contingent upon the institution raising its share capital to the minimum of US$2.65 million dollars, to comply with then current banking laws in Rwanda.
On 25th February 2005, the shareholders of Banque de l'Habiatat du Rwanda (BHR), held an Extra Ordinary General Meeting and decided to increase their share capital to the required minimum, to change their name to Housing Bank of Rwanda and to change their mission from a mortgage company/real estate developer to a Commercial Bank that specializes in Housing Finance.
Ownership
As of April 2010, the bank's stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is owned by the following corporate entities:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Housing Bank of Rwanda Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Government of Rwanda||56.00
|-
|2||Social Security Fund of Rwanda||30.00
|-
|3||Rwanda Development Bank
Rwanda Development Bank
Rwanda Development Bank, commonly referred to by its French name Banque Rwandaise de Développement , is a government-owned development bank in Rwanda.-Overview:...
||5.00
|-
|4||Bank of Kigali
Bank of Kigali
Bank of Kigali is a commercial bank in the Republic of Rwanda. The bank is one of the ten commercial banks licensed by the National Bank of Rwanda, the country's banking regulator.-Overview:...
||5.00
|-
|5||Commercial Bank of Rwanda
Commercial Bank of Rwanda
Banque Commerciale du Rwanda or Commercial Bank of Rwanda, is a commercial bank in Rwanda. The bank is one of the ten licensed commercial banks in the Republic of Rwanda.-History:...
||1.66
|-
|6||MAGERWA||1.66
|-
|7||Office of Thé||0.68
|-
|||Total||100.00
|-
|}
Branch Network
As of April 2010, the bank maintains its headquarters at Avenue de la Justice, in the city of KigaliKigali
Kigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
, Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
's capital. No other branches are known to exist at this time.