BPR Bank Rwanda Names Xavier Mugisha Shema Interim CEO as Mutesi Exits

BPR Bank Rwanda Plc announced Monday that Managing Director Patience Mutesi will leave her post on October 31, 2026, to pursue other interests, according to an official statement from the bank.

Mutesi has led the bank since February 2023, shortly after the formal merger of BPR with KCB Bank Rwanda under Kenya’s KCB Group.

In a statement signed by KCB Group CEO Paul Russo, the bank said Mutesi requested to step down. The announcement offered no further details on her future plans. The Board of Directors expressed regret at her decision while voicing deep gratitude for her successful leadership over the past nearly four years.

Xavier Mugisha Shema, currently BPR Bank’s Executive Director of Commercial Businesses, will assume the role of interim managing director effective November 1, 2026. The board will begin a search for a permanent replacement.

Strong Growth Under Mutesi’s Tenure

Mutesi guided BPR Bank Rwanda through a period of rapid asset expansion, rising profitability, and operational stabilization following its integration into the KCB Group.

Drawing on her experience in regional trade and corporate banking, she helped solidify the institution’s position as Rwanda’s second-largest bank.

Financial results during her time at the helm showed consistent double-digit profit growth:

• In 2023, the bank posted a post-merger net profit of Rwf 25.9 billion, up from Rwf 22.3 billion in 2022.
• In 2024, profit after tax rose nearly 15% to Rwf 29.7 billion, driven by a 23% increase in net interest income and expanded SME lending.
• In 2025, net profit surged 35% to Rwf 40.9 billion. Total assets grew 44.6% to Rwf 1.41 trillion, crossing a significant threshold.

Management had projected at least 20% further profit growth in 2026 prior to the departure announcement.

Strategic Focus Areas

Beyond the balance-sheet gains, Mutesi advanced several initiatives aimed at deeper market penetration and broader economic impact.

These included the “Ikamba” program, a women-focused financing initiative adapted from KCB’s frameworks in Kenya to support female entrepreneurs in Rwanda;

There was also a shift in lending priorities toward value-chain and SME financing in manufacturing, infrastructure, agriculture, and construction; and digital solutions that helped lift customer deposits by more than 50% by the end of 2025.

In August 2026, BPR Bank Rwanda received the “Bank of the Year: Rwanda 2025” award from The Banker magazine, part of the Financial Times Group. Mutesi publicly attributed the recognition to the work of the bank’s staff across the country.

The bank has not indicated a timeline for naming a permanent successor.