Rwandan banking sector 'in a good condition'

Jul 20, 2012

The governor of Rwanda's central bank has hailed the strength of the country's banking industry.

The governor of Rwanda's central bank has hailed the strength of the country's banking industry.

According to Claver Gatete, the sector has worked to improve its regulatory system and standards in recent years, reports the New Times.

This, he said, appears to have paid off in recent months. Indeed, figures from the central bank show that in March, bank deposits went up to €75 million - an increase of six per cent.

Mr Gatete is therefore confident that banks in Rwanda will be able to cope with difficult economic circumstances in other parts of the world and possible shocks that may occur as a result.

"We are very much encouraged, despite what is happening elsewhere," he commented.

The governor said the sector's "numbers look good" and insisted it aspires to have the "best of the best" with regards to regulation and standards.

Following a 2.9 per cent surge in the consolidated assets of banks between January and March 2012, the Rwandan central bank hopes to see a 7.7 per cent increase throughout the year as a whole.ADNFCR-2976-ID-801412102-ADNFCR