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The article reports about the bank profits in Rwanda. This paper discusses the economic growth in the country which forms a strong backdrop in commercial banks. The second-biggest bank in Rwanda, Rwanda Commercial Bank has had a steady growth in its customer base and this boosted growth in performance. Pre-tax profits are reported. Competition in rolling out new products has improved and customers are more attracted to invest. Profits has improved and continuously rose. The bank is owned by Actis but the government still owns a part.

Despite its recent tragic history of genocide and continuing threats to political stability, Rwanda has made significant strides in improving its competitive position compared to its African neighbors and to other countries at an equivalent economic level. The Rwandan business and political leadership have explicitly taken Singapore as a model for rapid economic growth, with the aim of positioning Rwanda as a regional hub for transportation and advanced services. This article, based in part on fieldwork conducted in Rwanda by the lead author,[In 2010, t] analyzes Rwanda's development strategy using the World Economic Forum's Global Competitiveness framework and evaluates its potential for success in emulating Singapore's development pathway. © 2014 Wiley Periodicals, Inc. [ABSTRACT FROM AUTHOR]

The article reports that Rwanda has a real, consistent growth of more than five percent between 1994 and 2004, which is the second highest in Africa. Rwanda's economic development vision is based on a philosophy that sees the establishment of security as a precondition for growth and shared economic growth as the only guarantor of long-term security. This vision extends beyond its borders, the Rwanda's integration into the East African Community, as well as its contributions to African Union and the United Nations efforts in Darfur and the Comoros have cemented this new direction.

The article reports on the fund received by Rwanda from the International Monetary Fund (IMF) under the Poverty Reduction and Growth Facility (PRGF). The country is to receive $1.7m that brings the total amount received to $5.1m under the PRGF which is almost half of the total amount to be receive from IMF over a three-year period. Meanwhile, IMF's Murilo Portugal mentions several challenges that needed to be solved by the Rwandan government which include management of grant-financed fiscal expansion without threatening macroeconomic stability, avoidance of increasing inflation, and others.