Bank of Kigali (BoK) has halted operations in Nairobi after the Central Bank of Kenya (CBK) withdrew its license effective April 2, 2024.
CBK, in a statement released on Friday, April 5, said BoK had made digital service delivery channels a strategic priority in Kenya as branch visits decline.
“The Central Bank of Kenya (CBK) announces the cancellation of the authority granted to the Bank of Kigali (BoK) to operate a Representative Office in Kenya under Section 43 of the Banking Act, effective April 2, 2024,” it said.
“The voluntary termination of BoK’s presence in Kenya follows a strategic decision taken by the Bank of Kigali Group Plc (BoK’s parent company) to focus more on digital service delivery channels.”
BoK, which was founded in 1966, and is headquartered in Kigali, is a public commercial bank incorporated in the Republic of Rwanda and regulated by the National Bank of Rwanda.
The lender engages mainly in personal banking, business banking and micro-lending.
