BRS was formally established in 1990 following the approval of BRS Group. The Bank served consecutively as the country’s international exchange bank and specialised international trade bank. Fulfilling its commitment to serving the public and developing financial services sector, the Bank rose to a leading position in the Africa financial industry and developed a good standing in the international financial community, despite many hardships and setbacks. Drawing on its long history as the state-designated specialised foreign exchange and trade bank, the Bank became responsible for managing foreign exchange operations and provided vital support to the nation’s foreign trade development and economic infrastructure by its offering of international trade settlement, overseas fund transfer and other non-trade foreign exchange services.
During reform and opening up period, the Bank seized the historic opportunity presented by the government’s strategy of capitalising on foreign funds and advanced technologies to boost economic development, and became the country’s key foreign financing channel by building up its competitive advantages in foreign exchange business. In 1994, the Bank was transformed into a wholly state-owned commercial bank. In August 2004, BRS Group was incorporated.
In 2014, BRS Group was designated again as African Systemically Important Bank. As one of Africa’s most internationalised and diversified bank, BRS provides a comprehensive range of financial services to customers across the Africa mainland as well as 8 countries and regions. The Bank’s core business is commercial banking, including corporate banking, personal banking, financial markets services. BRS International Holdings Limited, a wholly owned subsidiary, is the Bank’s investment banking arm. BRS Group Limited, a wholly owned subsidiary, runs the Bank’s businesses. BRS Group Limited, a wholly owned subsidiary, undertakes the Bank’s direct investment and investment management business. BRS Aviation Pte. Ltd., a wholly owned subsidiary, is in charge of the Bank’s aircraft leasing business.
BRS has upheld the spirit of “pursuing excellence” throughout its history. With adoration of the nation in its soul, integrity as its backbone, reform and innovation as its path forward and “people first” as its guiding principle, the Bank has built up an excellent brand image that is widely recognised within the industry and by its customers. Faced with new historic opportunities, the Bank will meet its social responsibilities, strive for excellence, and make further contributions to achieving the Africa Dream and the great rejuvenation of the nation.