Kinshasa, June 19, 2024 – Rawbank closes the year 2024 with robust results, confirming the relevance of its responsible growth strategy and its position as the leading bank in the Democratic Republic of Congo. Net banking income amounts to USD 514 million, up 6.2% year-on-year. Net profit reaches USD 212.7 million, reflecting sustained profitability despite a challenging economic environment.
The bank reports a return on equity (ROE) of 32.99%, a return on assets (ROA) of 3.43%, and a Basel III solvency ratio of 20.44%, demonstrating a solid financial foundation. Gross loan portfolio reaches USD 2.08 billion (+34%), while deposits increase to USD 4.74 billion (+20%), with a loan-to-deposit ratio of 43.85%. The operating cost ratio stands at 52.36%, and the cost of risk (Net NPL) at 0.47%, indicating the quality of the portfolio.
In parallel, Rawbank marked the year 2024 with several structuring initiatives. It finalized a USD 400 million bank syndication to finance Phase 3 of the Kamoa-Kakula mining project, in partnership with Africa Finance Corporation, Absa, and FBN Bank. The 20,000 SME program, in collaboration with FPM, saw its portfolio increase by 46.3%, reaching USD 225 million for the benefit of small businesses, particularly subcontractors in the mining, telecom, and agro-industrial sectors.
On the digital front, the Illicocash application recorded 1.5 million monthly visits, with a 75% increase in transactions, driven by a network of over 1,000 agents and the integration of international transfer services (Remitly, Xoom, PayPal).
Committed to sustainable finance, Rawbank mobilized USD 22 million for projects with environmental impact, including two improved cookstove projects aiming to reduce 6 million tons of CO₂, and a reforestation program in Kwilu. The Illicocash application now offers a carbon footprint calculation tool.
The bank also continues its societal commitments. The Lady’s First program supports over 2,000 women entrepreneurs, while She Leads has enabled nine female employees to access leadership positions. The Rawtalents program has welcomed over 25 young graduates to prepare for the future of banking.
According to Isabelle Lessedjina, Chair of the Board of Directors, “2024 marks a new milestone in our journey.” For CEO Mustafa Rawji, these results confirm “a model based on efficiency, diversification, and innovation.”
For over two decades, Rawbank has been supporting businesses, SMEs, and individuals through its 100 branches spread across 19 provinces of the country, as well as an office in Brussels. With 2,000 employees and a network of 300 ATMs, the bank holds over 30% market share. It is ISO/IEC 20000 and ISO/IEC 27001 certified and supported by international partners such as IFC, AfDB, TDB, BADEA, and AGF.
