This represents a 22.5 percent increase compared to the previous year. Together, they account for 67.4 percent of all regulated financial assets, meaning the banking sector controls roughly two-thirds of the country's financial system and remains central to Rwanda's financial stability and growth.
At the core of this expansion are Rwanda's nine commercial banks: I&M Bank Rwanda Plc, Bank of Kigali Plc, BPR Bank Rwanda Plc, GT Bank Plc, Ecobank Rwanda Plc, Access Bank Rwanda Plc, Equity Bank Rwanda Plc, BOA Rwanda Plc, and NCBA Rwanda Plc. Combined, they manage assets valued at Frw 7.7 trillion.
Their growth has been driven by strong lending activity and solid deposit mobilisation, reflecting a buoyant domestic economy. Customer deposits rose by 27.7 percent to Frw 6.1 trillion, providing a stable funding base for lending. Using these funds, banks expanded their net loans to customers by 17.8 percent, reaching Frw 4.8 trillion.
This sustained credit flow is supporting households and businesses in key sectors such as construction, trade, manufacturing, transport, and hospitality, helping to fuel economic activity across the country.
Rwanda's banks have also strengthened their financial foundations. Liquidity positions improved significantly, with cash holdings up by 48.1 percent, balances in other banks rising by 39.8 percent, and reserves at the National Bank of Rwanda increasing by 30.4 percent. These indicators point to improved resilience and the ability to withstand potential financial shocks.
The sector's capital position is also stronger. Total shareholders' funds rose by 36.1 percent to FRW 1.8 trillion, driven by a 73.1 percent increase in reserves and a 21.6 percent rise in profits, which reached Frw 161 billion. This capital growth enhances lending capacity and provides an important buffer against possible economic disruptions.
While commercial banks dominate in size, specialised institutions continue to play a critical role. The Cooperative Bank, ZIGAMA CSS, manages Frw 1.1 trillion in assets and supports community-based financial services.
The Rwanda Development Bank (BRD) also expanded its balance sheet to Frw 902.6 billion as it focuses on financing large-scale and long-term investment projects. Together, these institutions complement the commercial banks' activities and contribute to a more inclusive financial ecosystem.
Lower borrowing costs boost credit
The banking sector is also benefiting from improved monetary conditions. Following recent reductions in the Central Bank Rate, the weighted average lending rate dropped by 37 basis points to 15.93 percent, making credit more affordable for businesses and households. This has encouraged borrowing and stimulated investment across multiple sectors.
Rwanda's banking industry is therefore not only expanding in size but also building greater financial strength. With strong deposit growth, rising loan portfolios, and a solid capital base, the sector is well-positioned to support the country's ongoing economic transformation. These 11 institutions are shaping Rwanda's financial landscape and powering its ambition for sustained and inclusive growth.
IGIHE
