Commercial banks in the DRC have the obligation
to publish their audited financial statements on the following 31st
of March…
Balance Sheet:
The sector continues to grow with the total
sector balance sheet growing to USD 3.6 billion up by 29.4% year on year. The Compound
Annual Growth Rate (CAGR) for the last 4 years is 31%. It is worth noting that the market shares of the top 5 local banks have decreased over the same period, from approximately 72% in 2009 to 66% in 2012.
From a customers’ deposits point of view, the
growth was steady with a 26% increase y-o-y and a 31% CAGR over the last 4
years. The top 5 local banks Rawbank, BCDC, BIAC, TMB and BIC are still leading
the pack although they have lost market share lately in favor of international
and Pan-African banks.
Income statement:
Despite an increase of the total income of 22%
to USD 396m y-o-y, the net income has registered a significant drop (-51.4%)
during the same period to USD 7.1m! Only 50% of the commercial banks have made a profit in 2012. This could be explained by the investments
made by most banks to expand and modernize their network.
Overall, the sector is benefitting from the
growth of the economy. The fact that the economy is more and more formalized
has contributed positively to the sector…
Do not hesitate to contact me should you need
more details…
2 comments:
How does mobile banking perform?
Does this sector fit in the criteria mentioned in your article? (ie most investment to get it working are related to telecom industry).
The mobile banking (offered by telecom) is picking up slowly as people need to make a cultural shift toward this new technology. Some provinces of the country such as the eastern ones seem to be in advance compared to the rest of the country.
The mobile banking offered by banks on the other hand is nowhere to be seen...
the investments I was talking about are those of traditional banks to expand their physical presence.
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