I&M Bank (Rwanda) PLC

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I&M Bank (Rwanda) PLC (2021-10)
  • I&M Bank (Rwanda) PLC
  • Year : Nov 2021
3 Tokens
USD 300.00

I&M (Rwanda)’s competitive position is supported by its sound market position as a top tier bank that operates in a somewhat overbanked and increasingly competitive sector. At FY20, I&M (Rwanda) had approximately 11.2% deposit and 10.7% loan market shares in Rwanda, with particular market strengths in the corporate and high net wealth individuals space in the country. Business diversification is considered to be fairly strong, given the small size and wealth levels of the economy, with corporate, SME and retail divisions accounting for 55%, 16% and 29% of loans and advances at 1Q21.

Additional Information

The stable outlook reflects the enhanced capital position and outperformance of the bank’s asset quality versus regional peers. Also, the bank has cemented its market position and we expect funding and liquidity to remain stable in the next 12-18 months. We could raise the ratings if the capital levels of the bank improves and asset quality outperforms our expectations and peers, which will improve internal capital generation (post dividends). Over the longer-term, more stable funding sources and greater scale could improve the ratings.

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