The origins of the bank can be traced back to 1975, when the first Banque Populaire was formed in the settlement of Nkamba, in the city of Kibungo, Eastern Province. Over the next ten years many other similar banks were founded around the country. In 1986, the various autonomous Banques Populaires formed an umbrella called Union des Banques Populaires du Rwanda (UBPR). UBPR was operated as a Cooperative Bank. In January 2008, following thirty three years of experience in the Rwandan financial sector, UBPR was transformed from a cooperative bank into a commercial bank: “Banque Populaire du Rwanda S.A”.[4] In June 2008, Rabobank, the Dutch cooperative banking conglomerate, acquired 35% shareholding in BPR.[5] In July 2012, Visa Inc. certified the bank to issue visa-branded debit and credit cards.[6]