• Rawbank’s revenue rose 6.2% to $514 million, with net profit up 11.4%
• Loan portfolio expanded by 34%, and a $400 million mining syndication was completed
• Strong growth in digital services, SME financing, and green initiatives across the DRC

Rawbank, the leading financial institution in the Democratic Republic of Congo (DRC), demonstrated its ability to combine performance, digital innovation, and social commitment in 2024, despite a challenging economic environment.

According to its annual report released on June 18, 2024, Rawbank recorded steady growth in both revenue and profitability, driven by a strategy centered on diversification, digitalization, and sustainable finance. The bank also successfully rolled out several innovative and inclusive financing solutions to support the national economy.

Net banking income, equivalent to revenue, reached $514 million, marking a 6.2% increase from 2023, supported by dynamic commercial activity and effective margin management. Net profit totaled $212.7 million, an 11.4% rise. These results reflect a return on equity (ROE) of 32.99% and a return on assets (ROA) of 3.43%. The bank’s capital adequacy ratio, aligned with international standards, stood at 20.44%, confirming its strong financial position and ability to meet growing financing needs while maintaining strict risk management.

International Syndicated Loan for Mining Sector

Total gross loans grew by 34% to $2.08 billion, driven by strong demand and a balanced credit policy. Deposits rose by nearly 20%, reaching $4.74 billion, reflecting renewed trust from both individuals and businesses. The loan-to-deposit ratio improved to 43.85%, showing healthy balance sheet management. Operating expenses accounted for 52.36% of income, while the cost of risk, based on net non-performing loans, remained low at 0.47%, highlighting effective risk control.

In 2024, Rawbank achieved a strategic milestone by completing a $400 million syndicated loan to finance the third development phase of the Kamoa-Kakula copper mine in Lualaba province. Organized with Africa Finance Corporation, Absa, and FBN Bank, the deal underscores Rawbank’s ability to structure large-scale international financing. It strengthens the mining sector, a key pillar of the Congolese economy, and positions Rawbank as a major player in high-impact infrastructure financing.

The report also highlighted the success of the “20,000 SMEs” program, launched with the Financial Inclusion Fund (FPM). In 2024, loans to small and medium-sized enterprises (SMEs) increased by 46.3%, reaching $225 million. The program targets sectors such as mining subcontracting, telecommunications, and agribusiness, promoting financial inclusion and access to credit for Congolese entrepreneurs.

Digital Transformation Gains Momentum

Rawbank’s Illicocash app, central to its digital strategy, recorded 1.5 million monthly visits in 2024, with transactions up 75% compared to 2023. The bank’s network of banking agents expanded to over 1,000 active service points nationwide. New features were added to meet the needs of connected customers, including receiving international transfers via Remitly, Xoom, and PayPal.

The bank also advanced its sustainable finance initiatives, mobilizing $22 million between 2023 and 2024 to support the green transition. Notable projects include a $2 million investment in improved cookstoves to reduce six million tons of CO₂ over ten years and a reforestation program in Idiofa, Kwilu province. Rawbank also integrated a carbon footprint calculator into the Illicocash app, enabling clients to track their environmental impact in real time.

Financial inclusion and equal opportunity remain central to Rawbank’s mission. The Lady’s First program now supports over 2,000 women entrepreneurs, while the She Leads initiative enabled nine female employees to reach management positions in 2024. Additionally, the Rawtalents program welcomed more than 25 young graduates to develop the next generation of leaders in the DRC’s banking sector.

“The dedication of our teams since 2002 continues to deliver results, with a renewed ambition to make Rawbank more than just a bank, but a driver of sustainable transformation for the DRC,” said Isabelle Lessedjina, Chair of the Board. CEO Mustafa Rawji added, “The 2024 results confirm the strength of our model built on efficiency, diversification, and innovation. They reflect renewed client trust and our commitment to actively supporting Congo’s economic transformation.”