DRC: three reasons for Rawbank's profit decline in 2019

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After a good year 2018, the Congolese leader saw its profit divided by three in 2019, despite sharply rising revenues. Explanations.

The net income of the first banking group of DRC amounted to 7,4 million dollars in 2019, far from 23,7 million dollars in 2018.

Admittedly, 2018 had been an exceptional year, with a stable exchange rate and a very strong increase in customer loans (+ 61%) as in the investment portfolio. Rawbank had then garnered a net banking income (GNP) of about 155 million dollars (+ 56%), for a profit which had quadrupled.

The performance for 2019 was more mixed.

The impact of the exchange rate

"We have performed rather well given the events, on variables such as deposits, outstanding credit or total assets," said Young Africa Rawbank's teams, whose balance sheet grew 27% to $ 2,13 billion current at the end of 2019.

Savers' deposits and income increased in much the same way, to $ 1,5 billion and $ 203 million, respectively (ie increases of 29% and 30%). But net income fell to its lowest level since 2017.

source: https: //www.jeuneafrique.com/1022642/economie/rdc-trois-raisons-au-recul-du-benefice-de-rawbank-en-2019/

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