Connect with us

Hi, what are you looking for?



I&M Bank Rwanda raises Sh887 million in new rights issue

NAIROBI, Kenya, Nov 4 – I&M Bank Rwanda has raised Sh887 million in the just-concluded rights issue at the Rwanda Stock Exchange.

The rights issue closed with an oversubscription of 12 percent at RWF 39.60 (Sh4.39) per share.

The Rights Issue was undertaken to secure long-term funding to accelerate investment in technological platforms and bolster the Bank’s Tier 1 Capital Adequacy Ratio.

Faida Securities Rwanda and I&M Burbidge Capital were the  Joint Lead Transaction Advisors for the I&M Bank (Rwanda) Plc 2020 Rights Issue.

“Despite the effects of the COVID-19 pandemic, we are proud to partner with the bank in this transaction and are optimistic about the Bank’s growth prospects. I&M Bank Rwanda has a track record of offering high Return on Average Equity and is a strong dividend counter,” said Rina Hicks, Chief Operations Officer at Faida Securities Rwanda an associate company of Faida Investment Bank.

Hicks added that added going forward, growth will be driven by the Bank’s current strategy which largely focuses on increasing their MSME offering and leveraging digital banking to enhance efficiency and revenue diversification.

“We are delighted to have advised on this successful transaction. The advisory teams and the Bank’s transaction team worked extremely hard to complete this within the timeframes, and the highly successful outcome is a testament to the professional approach of the advisory teams as well as I&M Bank’s fantastic performance record and reputation in the market,” noted Gauri Gupta, Director at I&M Burbidge Capital.

I&M Bank Rwanda has grown steadily over the past five years and the results of this Rights Issue demonstrate the commitment by its shareholders to continue to be a part of the Bank’s sustainable growth story.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...