Bank of Kigali ordinary share capital. In 1967, the Bank commenced its operations with its first branch in Kigali. Belgolaise was a subsidiary of Fortis Bank (now defunct), operating in Sub-Saharan Africa but in 2005 began to withdraw from its operations in Africa in line with Fortis’ strategy. In 2007 the Government of Rwanda acquired the Belgolaise shareholding in Bank of Kigali, thereby increasing its direct and indirect shareholding in the Bank to 100% of the entire Issued Shares. In 2011, the Bank changed its name under the new law relating to companies from Bank of Kigali S.A to Bank of Kigali Limited.
Bank of Kigali shareholders' approved plans to cross-list the stock of the bank on the Nairobi Stock Exchange (NSE), the largest in the East African Community. The cross-listing and the planned rights issue, both planned during the second half of 2018, are expected to raise US$70 million, to be deployed on the acquisition of new, improved ICT systems ($20 million), with the rest deployed in loans to support infrastructure projects at home. In October 2018, the EastAfrican, a regional English language newspaper reported that the stock of Bank of Kigali was expected to list on the Nairobi stock exchange on 30 November 2018.