Kinshasa, July 1, 2021
RAWBANK today publishes its 2020 Annual Report with rising results, despite an unprecedented and challenging context due to the effects of the Covid-19 pandemic. Strengthening governance, developing digital tools, opening new branches, reinforced strategic priority on compliance issues, capital increase, new international financing, autonomy of regional departments… During the 2020 fiscal year, and despite a contraction of the national economy, RAWBANK adapted to market demands and remained on a growth trajectory.
Rawbank’s total assets reached USD 2.8 billion (5.7 trillion Congolese francs), a 36% increase compared to 2019, marking a new development milestone. For the past four years, Rawbank’s assets have grown by an average of 20% annually. The Covid-19 pandemic did not alter this momentum, with a significant rise in deposits in particular, reflecting client trust in the Bank. Rawbank’s deposits increased by 48% to reach USD 2.2 billion— the highest year-on-year increase in deposits ever recorded in the national market.
Throughout the year, Rawbank demonstrated resilience and met customer expectations, thanks to the dedication of its teams and management. Governance bodies were strengthened, with the appointment of Mustafa Rawji as CEO and the addition of renowned independent board members. Together, they initiated a new dynamic during the past year: work processes were reorganized to stay close to customers. Present in 47 cities with more than 100 branches, including MIKUBA, the new branch in Kolwezi, Rawbank has chosen to build around a regionalized model, giving more autonomy in management and decision-making to its five Regional Departments.
Rawbank also launched new products and developed innovative digital solutions, thereby advancing toward its founding ambition: to stay close to clients and build the bank of tomorrow. To offer a more interactive customer experience, and to be more dynamic and accessible to all, Rawbank improved Rawbank Online, deployed Swift GPI technology for better transaction tracking, launched the Optimus platform for mining operators, Visa Direct, and the Maximus Titanium credit card for SMEs.
Also noteworthy in 2020: the transformation of the Compliance Committee into a full-fledged department, a new USD 20 million loan from the African Trade and Development Bank for SMEs— a sign of international partners’ trust in Rawbank (following Afreximbank, IFC, EIB…), and the capital increase that raised Rawbank’s equity to over USD 200 million, exceeding the threshold set by the Central Bank of Congo.
“The finances, performance, and equity of Rawbank are strong. Our human capital, energy, and broad, innovative product range have made us the country’s leading bank. Our commitment to digital and innovation gives us a head start, as well as the trust of our clients. With over 400,000 customers, Rawbank holds more than 28% market share. As a reference bank in the DRC, Rawbank also aims to be exemplary in compliance. And in this, we have delivered!” summarizes Mustafa Rawji, CEO of Rawbank.
In this time of health, economic, and social threats related to the COVID-19 pandemic, RAWBANK is fully engaged and involved in the national effort, taking multiple field actions both for prevention and for supporting those already affected by COVID-19.
About RAWBANK
With more than 1,800 employees, nearly 100 branches, and 230 ATMs, Rawbank is present in 19 provinces of the DRC and in 47 cities across the country, including Kinshasa, Lubumbashi, Goma, Mbandaka, Kolwezi, Moanda, Bandundu Ville, Gemena, Mbuji-Mayi, and Mahagi. With 400,000 clients and 28% market share, the Bank supports the development of the Congolese economy. Serving individuals, SMEs, corporations, and institutions, Rawbank is rated by Moody’s, ISO/IEC 20000 and ISO/IEC 27001 certified, and has financing partnerships with several international development institutions (IFC, Shelter Africa, TDB, AfDB, Afreximbank, and AGF). Security, profitability, and sustainability are Rawbank’s operational priorities to consolidate its growth strategy, particularly toward individuals and the private sector.
Our extensive branch network is one of the most developed in the Congolese banking sector, present in 19 provinces including Greater Katanga, Greater Kasai, the two Kivus, Équateur, and Kongo Central.
RAWBANK’s objective is to provide its Corporate, SME, and Individual clients with access to the most modern techniques, services, and products in the banking and financial sectors—hence the relevance of its slogan: “RAWBANK is my bank”.
