Access Bank DRC closed 2024 with a balance sheet total of CDF1,154 billion-about USD409.8 million at the year’s average exchange rate, still below its USD524 million target. Even at the 2023 rate, it’s only USD489.36 million. The bank reported a CDF3.3 billion capital loss due to franc depreciation. According to the source, a post on the lender’s official LinkedIn page, Access Bank DRC expects a balance sheet total of USD697 million and USD900 million in 2025 and 2026, respectively.

In a press conference, the bank reported a potential capital loss of CDF3.3 billion, attributed to the depreciation of the Congolese franc in 2024. But even applying the average exchange rate for 2023 (2,350 CDF/USD), on which the targets were based, the balance sheet total of CDF1,154 billion is equivalent to 489.36 million USD, still below the target.

By July 2026, unless the moratorium is extended, Access Bank RDC, like many other banks in the Democratic Republic of Congo, will have to comply with new regulations issued by the Central Bank of Congo limiting the maximum holding of a single shareholder to 55%. The Holdings, based in Nigeria, currently holds 99.7% of its Congolese subsidiary’s capital. In addition, several unconfirmed sources report that the Central Bank of Nigeria (CBN) is forcing the group to dispose of its assets in the DRC in order to obtain the green light for the acquisition of the National Bank of Kenya (NBK).

In this context, the balance sheet total and its components will be key indicators for potential investors. Beyond the depreciation of the Congolese franc, Access Bank RDC will have to explain the reasons for the deviation from its 2024 forecasts. The publication of the 2024 Pillar 3 report on its website should provide further clarification.

In the meantime, the lender reported that its net income rose sharply to about CDF27 billion, a 91.7% increase over 2023, with a dollar equivalent increase of 59.7% using the 2023 exchange rate.

The bank, more than 80% of whose business is with corporates (according to its 2023 report), also reported an increase in customer deposits to CDF810.7 billion.

"This performance reflects our financial strength and our anchoring in the Congolese economy. Access Bank RDC remains committed to offering quality, innovative and inclusive services," said the bank, commenting on its results.

Further analysis of this performance will better highlight the bank's strengths, but also the challenges it faces.

This article was initially published in French by Georges Auréole Bamba

Edited in English by Ola Schad Akinocho