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DRC: Rawbank makes strong progress in 2018

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[Annual Report] – Rawbank achieved results that show accelerated growth in 2018 compared to the previous year. According to the Annual Report released June 12, 2019, these are figures that reflect the ambition of this commercial bank to « See big for the Congo. »

Indeed, after a year 2017 marked by economic and political uncertainties, Rawbank was able to anticipate the situation by optimizing the deployment of its agencies, and by developing the range of services offered to its customers.

In this impetus, « See big for the Congo », according to Rawbank, « is to demonstrate a constant commitment to exceed expectations, anticipate difficulties, and innovate constantly in the service of all those – companies, individuals – who contribute to the modernization of the Congolese economy. »

Growth, the ascending curve

The 2018 Annual Report indicates that the bank is posting excellent results and strong growth figures. As of December 31 of this year:

– its deposits reach 1.15 billion dollars (1,889 billion Congolese francs, an increase of 27% compared to 2017);

– its disbursement appropriations 665 million dollars (1,084 billion Congolese francs, + 59.5%);

– its net profit 23, 68 million dollars (38 billion Congolese francs, + 311%);

– net banking income 155 million dollars (253 billion Congolese francs, + 56%);

– and its total balance sheet of 1.67 billion dollars (2,737 billion Congolese francs, + 25%).

This is because in 2018, says the Bank, the strategy pursued has been twofold. On the one hand the decentralization of the management of agencies to offer them more power and efficiency, and on the other hand the extension and adaptation of the network of agencies according to local needs and their past performance.

Innovation and expansion

Rawbank says it continues to expand the hospitality by opening and renovating branches across the country. The results achieved in 2018 also confirm growth, expansion and stability, thanks in particular to an innovative and local offering and rigorous management in accordance with the highest international standards.

« Rawbank has been able to put forward an entrepreneurial spirit that places it closer to the demands and expectations of the field. It is this same spirit that puts us in tune with our customers, large companies or SMEs, creators of value and attentive as we are to the great balances and structuring forces of the market, and explains the excellent performance of our bank », explained General Manager Thierry Taeymans.

In 2018, the first commercial bank has relied heavily on the development of its digital offering to provide efficiency, ease of access, speed, for all its usual services. Their digitization is made to play a role every day more important. And Rawbank intends to remain at the forefront of this field in the banking sector.

With a steady improvement in the year 2019, the future of Rawbank is particularly promising. The bank also aims to become a leading bank in Africa, conquering new markets, offering new products and extending its proximity to its customers.

As a reminder, Rawbank is the leading bank in the country having been the first to exceed $ 1 billion in total balance sheet in 2015. It has more than 1,600 employees with nearly 100 points of sale and a representative office in Brussels, more than 400,000 customers and 25% market share.

Rawbank supports the development of the Congolese economy. Certified and award-winning, it is considered today as a key financial player in the DRC, for individuals, small and medium-sized businesses as well as large companies and international institutions.

Safety, profitability and sustainability are Rawbank’s operational priorities in consolidating its growth strategy, particularly for individuals and the private sector.

Eric TSHIKUMA

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Congo: UBA DRC represented by its general manager at the 5th Forum Investing in Africa

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Congo: UBA DRC represented by its general manager at the 5th Forum Investing in Africa

United Bank for Africa (UBA) DRC was represented at the fifth Forum Investing in Africa (FIA5) held from 10-12 September 2019 in Brazzaville, Republic of Congo. Its CEO, Patrick Kabisi, was the only panelist selected in the Congolese banking sector.

He intervened in the session on Human Capital Development as an analyst of the changing demographic and social environment.

Patrick Kabisi focused on areas where investment is needed, not only to close the gap in basic services, but also to help people become innovators, entrepreneurs, leaders and autonomous citizens, regardless of their income level.

These reflections also focused on opportunities for knowledge exchange and collaboration between African countries, China and the rest of the world on key institutional, regulatory and technological reforms.

Sub-Saharan Africa lags behind in most human capital indicators, and estimates show that the continent is only operating at 40% of its potential despite recent progress in health and education indicators.

At the same time, a skills gap hinders countries’ competitiveness in the global economy.

The objectives of the AIF5 were to examine how best to support economic diversification and job creation in African countries; to take stock of progress made and should chart the way forward.

Emilie MBOYO

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DRC: Moody’s reiterates its positive assessment of the BCDC

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DRC: Moody's reiterates its positive assessment of the BCDC

Despite the high country risk of DR Congo, Moody’s rating agency has just reiterated its positive assessment of the Banque commerciale du Congo (BCDC). In a publication relating to its « credit opinion » of 6 September 2019, it included in a more detailed manner the elements justifying Caa2’s ratings on long-term deposits with a stable horizon and Caa1 on long-term counterparty risk assigned to this Congolese bank.

« Banque commerciale du Congo enjoys a predominant position in the large corporate sector, a large stable deposit base and excellent liquidity, but operates in the difficult environment of the Democratic Republic of Congo, » said Yves Cuypers, BCDC’s Executive Director in a statement to Zoom Eco.

Indeed, it is not possible for a banking institution, in the international rating system, to exceed the rating assigned to the country in which it has its residence and main activity. Congo DR has recently seen its sovereign rating downgraded from B3 negative to Caa1 stable.

Logically, it follows that no Congolese bank can be assigned a higher rating than that assigned to DR Congo. What is more normal than BCDC’s Caa1 rating means that the bonds are speculative and subject to high credit risk.

However, BCDC’s efforts are acknowledged by Moody’s, which welcomes the announced acquisition of a majority stake in BCDC by the Equity Group.

« Moody’s has published an (issuer comment) considering that this potential acquisition would be mutually beneficial for both the Banque commerciale du Congo and Equity Group Holding, » insisted Yves Cuypers.

Eric TSHIKUMA

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DRC: Moody’s gives BCDC a « Caa2 » rating on long-term deposits

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DRC: Moody's gives BCDC a "Caa2" rating on long-term deposits

Moody’s, one of the world’s leading rating agencies, has assigned two ratings to the Banque commerciale du Congo (BCDC). These are Caa2 on long-term deposits with a stable horizon and Caa1 on long-term counterparty risk. According to an official statement from the bank, these two ratings correspond to a speculative environment. Below, the details:

DRC: Moody's gives BCDC a "Caa2" rating on long-term deposits

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