Rawbank, the leading bank in the Democratic Republic of Congo, publishes its results alongside its 2022 annual report. The year saw a dynamic performance with diversification and an increase in loans to clients of 39%. The bank’s twentieth year of activity ends with a strong and sturdy financial position.
Rawbank’s commercial activity in 2022 was particularly solid, with a balance sheet total of US$4.14 billion. Lending increased by 39% from the previous year to US$1.3 billion. Supported by sustained growth, Rawbank increased its shareholder equity, which will allow it to lend to support the dynamism of the Congolese economy. The structurally high level of deposits remained stable at US$3.2 billion, showing the market’s confidence in the bank, with an excellent ratio of loans to deposits of 40.48%. Net banking income of US$362 million rose 30%, underlining the performance of Rawbank’s strategic model.
Rawbank’s financial solidity is underpinned by a growing client base, in terms of both customer numbers and loans to individuals, small and medium-sized companies, large corporates, mining companies and other institutions. The bank’s business model is confirmed at all levels: operating profitability stood at 42.8% and the cost-income ratio at 58.1%. These indicators show the success of the bank in the diversification of its revenues, the strengthening of its systems and its improved cost management.
The bank’s twentieth year of activity ends with a solid and robust balance sheet. Rawbank continues to meet the needs of an ever-growing and more demanding clientele. The number of customers increased by 7% in 2022 to reach 517,000, while prudential ratios were reinforced. The renewed confidence of stakeholders in the Congolese economy, constant focus on risk management and compliance and the digital transformation of working methods are the key elements of Rawbank’s model.
“Our road map is clearer than ever: continuing to invest in innovation, providing financial solutions, especially digital ones, which are adapted to the needs of our clients, ensuring diligence in risk management and compliance, and consolidating our position in the DRC. Our understanding of the specificities of the Congolese market gives us a unique capacity to meet its needs and I am convinced that this year’s positive results are the prelude to an even more promising future. Rawbank is a strong institution which can overcome economic uncertainties and meet the country’s needs of today”, says Mazhar Rawji, chairman of the board.
CEO Mustafa Rawji says: “Once again, the loyalty and confidence of our clients has been the core of our performance. The financial and operating results for 2022 are proof of our ability to diversify, to invest in digital and to be commercially aggressive while continuing to improve our efficiency. Thanks to a prudent and well-informed strategy, our indicators are positive and show the confidence of our customers in the bank. This showing wouldn’t have been possible without the committed involvement of our teams to whom I am deeply grateful. We continue to work enthusiastically together to transform the Congolese economy.”
Rawbank’s results are the fruit of a strategy deployed over the years which is based on anticipation of market developments and rigorous management. This strategy has been internationally recognised by leading publications such as The Banker and Euromoney which have both recognised the bank as the best in the country in their awards, and by Global Finance which ranks the bank as the best in the DRC for foreign-exchange operations.
“Our continued efforts in compliance and risk management, the solidity of our balance sheet, the profitability of our business model and the strengthening of our prudential ratios are the foundation of Rawbank. This foundation today allows us to accelerate our development in confidence and security,” concludes Mustafa Rawji.
About Rawbank
For 21 years, Rawbank has been supporting the development of the Congolese economy. The bank offers the latest modern products to its base of over 500,000 corporate, SME and individual customers via a network of 100 branches in 19 of the country’s provinces, notably Grand Katanga, Grand Kasaï, the two Kivus, the Equateur, and Central Congo. This vast agency network is complemented by a representative office in Brussels and 265 cash distributors. With over 1,800 collaborators, Rawbank has a market share of over 30%.
Solidity, profitability and durability are Rawbank’s priorities to consolidate its growth strategy.
The bank’s performance has been recognised with the African Bankers Award 2022 for the best regional bank in central Africa, by a Moody’s rating of CAA 1, and by ISO/IEC 20000 and ISO/IEC 27001 certifications.
Partners who put their confidence in RAWBANK include: IFC, BAD, TDB, BADEA, Shelter Africa, AGF.
