Bank of Kigali press release 2 October 2015

1. About Bank of Kigali Limited
Established in 1966, Bank of Kigali is the largest bank in Rwanda by Total Assets, with 33.0% market share as of 30 June 2015. The Bank has a distribution network
comprising 73 branches, 79 ATMs, 944 agent outlets and serves over 313,000 individuals and 27,750 legal entities. The Bank has a wide distribution network that
includes self-service channels such as deposit-taking ATMs and Point of Sale terminals as well as channels that are geared towards promoting financial inclusion
such as mobile vans. The Bank has a short term credit rating of A1+ and a long term rating of AA- with a stable outlook, from Global Credit Rating (GCR). In 2011,
the Bank became the second domestic company to be listed on the Rwandan Stock Exchange. The Bank was awarded the 2015 African Banker Award for Best Bank
in East Africa as well as the 2015 Euromoney Award for Excellence as the Best Bank in Rwanda. Since 2009, the Bank has been recognised for six years running as
the Best Bank in Rwanda by Emeafinance and for five years as Bank of the Year by The Banker.
For further information, please visit www.bk.rw or contact:
James Gatera Shivon Byamukama Diane Mukunde
Chief Executive Officer Head of Corporate Affairs Investor Relations Officer
Tel: +250 252 593 100 / +250 252 593 200 Tel: +250 252 593 100 /+250 252 593 200 Tel: +250 252 593 100 / +250 252 593 200
Email: jgatera@bk.rw Email: sbyamukama@bk.rw Email: dmukunde@bk.rw
Kigali, 2 October 2015
Bank of Kigali Announces Changes in the Board of Directors
The Board of Directors of the Bank of Kigali, the leading commercial bank in Rwanda, today
announced that long time board member Marc Holtzman has been elected Chairman. Mr. Holtzman
will replace outgoing Chairman Lado Gurgenidze, who together with Holtzman, joined the Bank’s
Board in 2009. Mr. Holtzman has almost three decades of extensive business and financial
experience.
Mr. Holtzman serves as Chairman of Kazkommertsbank (LSE: KKB:LI), Kazakhstan’s largest bank with a
total market share of 24%. He also currently serves as a Member of the Board of Directors of
TeleTech (NASDAQ: TTEC), the world’s leading provider of analytics-driven technology-enabled
services. Previously, Mr. Holtzman was Chairman of Meridian Capital HK, a private equity firm with
investments in natural resources, real estate, food, agriculture and transportation. Prior to joining
Meridian, Mr. Holtzman served as Vice Chairman of Barclays Capital and as Vice Chairman of ABN
Amro Bank. Mr Holtzman was the co-founder and President of MeesPierson EurAmerica (a firm
which was acquired by ABN Amro) and as Senior Adviser to Salomon Brothers. He also served in the
Cabinet of Governor Bill Owens as Colorado’s first Secretary of Technology and was President of the
University of Denver.
Mr. Holtzman is passionate about his work with the Point Point Foundation- a UK based charity which
supports Rwandan orphans and is a longtime supporter and former Trustee of the Colorado Animal
Rescue Shelter. Mr. Holtzman also serves as a National Trustee of National Jewish Health- America’s
leading respiratory hospital. He holds a Bachelor of Arts degree in Economics from Lehigh University
and holds dual Rwandan and American citizenship.
Mr. Holtzman praised outgoing Chairman Gurgenidze’s outstanding tenure and enormous
contribution to the growth of the Bank of Kigali and to Rwanda’s financial sector. Under Lado’s
inspirational leadership, Bank of Kigali grew from 18 branches in 2009 to 73 today with cumulative
asset growth of 232% and net loans growth of 236%. The Bank successfully entered the capital
markets with an impressive share performance and last year realized a 22.9 % return on equity.
Chief Executive James Gatera said, that the entire leadership, staff and management of Bank of Kigali
thank Lado Gurgenidze for his dedication and commitment to the Bank and his support and direction
to the Management of Bank of Kigali. “I would like to thank Lado for his leadership, vision and
unwavering commitment to the shareholders, clients and employees of the Bank. He brought a
different perspective and world-class banking expertise, always pushing the Bank forward”,
commented Dr. James Gatera, Chief Executive Officer.
“I am privileged to have played my part in the exciting journey of the Bank over the past six years.
The talented team at the Bank, supported by the Board of Directors and our shareholders, has

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transformed the Bank into a modern universal bank that is the undisputable leader of the Rwandan
banking sector with a strong capital base, diversified revenue streams and effective and efficient
multi-channel delivery of our broad range of products. I am particularly pleased that we have been
able to do so while building shareholder value, with the share price currently at RwF 280, up from
RwF 125 at the time of our IPO in September 2011”, commented Lado Gurgenidze.