Bank of Kigali closes Kenya office
The Bank of Kigali (BoK) has closed its representative office in Kenya after 11 years of operations as the lender seeks to focus on digital services.
“The voluntary termination of BoK’s presence in Kenya follows a strategic decision taken by the Bank of Kigali Group Plc (BoK’s parent company) to focus more on digital service delivery channels,” a statement from the Central Bank announcing the exit notes in part.
CBK authorized the establishment of BoK’s Representative Office in Kenya on February 12, 2013, marking it as the first foreign bank from the East African Community to receive such authorization. The representative office was established to explore potential business opportunities in the country.
BoK focuses primarily on personal banking, business banking, and micro-lending. With 40 branches in Rwanda, it is listed on the Rwanda Stock Exchange.
