Bank of Kigali million), with shareholders' equity of RWF:122.8 billion (US$143.7 million). On 29 September 2017, Global Credit Ratings affirmed Bank of Kigali Limited’s long-term and short-term national scale ratings of AA-(RW) and A1+(RW) respectively; with a stable outlook. The bank has won several back to back international and regional "Best Bank in Rwanda" awards, including from EuroMoney, The Banker, Global Finance Magazine, and EMEA Finance. The Bank was incorporated in the Republic of Rwanda on 22 December 1966. Initially Bank of Kigali was founded as a joint venture between the Government of Rwanda and Belgolaise, with each owning 50 percent of the
Kigali it remained a relatively small city until the 1970s due to government policies restricting rural-to-urban migration. The population reached 115,000 by 1978, and 235,000 by 1991. The city lost a large fraction of its population during the 1994 genocide, including those killed and those who fled to neighbouring countries. From 1995, however, the economy began to recover and large numbers of long-term Tutsi refugees returned from Uganda. Many of these refugees settled in Kigali and other urban areas, due to difficulty in obtaining land in other parts of the country. This phenomenon, coupled with a high birth rate and increased