Equity Banque Commerciale du Congo is expanding its reach in the region.
The bank has opened new branches in major cities, increasing its presence to 10 locations.
This strategic move aims to bring financial services closer to the community, making it more accessible to the people.
Equity Banque Commerciale du Congo is committed to providing a wide range of products and services to meet the diverse needs of its customers.
Banque Commerciale du Congo
Banque Commerciale du Congo, or BCDC, has a rich history dating back to 1909 when it was established as the Banque du Congo Belge. BCDC was the second-largest bank in the DRC, measured by balance sheet and shareholders' equity.
In 2019, Equity Bank Group acquired a controlling stake in BCDC, with plans to merge it with Equity Bank Congo. The acquisition was a significant deal, with Equity Bank Group paying $106 million to the George Arthur Forrest Group for a 66.5% stake in BCDC.
The merger between BCDC and Equity Bank Congo is an important milestone for the bank, allowing it to offer a wider range of services to its customers. With the merger, BCDC customers can now access services such as account opening, cash deposit and withdrawal, cheque deposit and withdrawal, SWIFT, RTGS, and EFT services, request for bank statements, do internal funds transfers, and ATM withdrawals at any Equity Bank branch.
As of November 2020, Equity Bank Group had completed the acquisition of 66.53% shareholding in BCDC, after paying $95 million in August 2020. This marked a significant step towards the merger between the two banks.
Here's a brief overview of the key players involved in the merger:
- Equity Bank Group: Acquired a controlling stake in BCDC and merged it with Equity Bank Congo to form Equity Banque Commercial du Congo (EquityBCDC).
- George Arthur Forrest Group: Sold a 66.5% stake in BCDC to Equity Bank Group for $106 million.
- KfW: Sold a 7.7% stake in Equity Bank Congo to Equity Group Holdings for $9 million.
- IFC, the Government of DRC, and minority shareholders: Hold the remaining shares in EquityBCDC.
Expansion and Presence
Equity Banque Commerciale du Congo has been rapidly expanding its presence in the Democratic Republic of Congo. The bank's branch list has increased to 74 brick and mortar branches and over 7,400 banking agents throughout the country.
The bank's growth is impressive, with a significant increase in the number of branches over the years. As of May 2015, the bank had 15 networked service branches, which was planned to increase to 30, but eventually reached 41 by August 2018.
This expansion has been a result of the bank's efforts to increase its services and reach more customers.
La RDC, Nouvelle Priorité
Equity Bank, a Kenyan banking group, is making Congo its new priority, with its Congolese branch showing promising performance.
James Mwangi, the bank's CEO, explains that the relationship between the two countries will be organized in this context, highlighting the bank's commitment to the region.
The Congolese economy is showing one of the highest growth rates on the continent, driven by the extractive sector, despite persistent inflationary tensions and a weak Congolese franc.
Branches
As of May 2015, PBD maintained 15 networked service branches.
The bank's branch list increased to 41 by August 2018, a significant expansion in just a few years.
By December 2020, the number of branches had further increased to 74, showing a steady growth trend.
EquityBCDC maintained 74 brick and mortar branches as of May 2022, with a vast network of over 7,400 banking agents throughout the country.
Frequently Asked Questions
Qui est le propriétaire de la banque equity ?
Equity BCDC est une filiale de Equity Group Holdings Plc, le plus grand groupe de services financiers d'Afrique de l'Est et d'Afrique centrale. Equity Group Holdings Plc est une société cotée en bourse avec une capitalisation boursière de 1,4 milliard USD.
Quels sont les produits de EquityBCDC ?
EquityBCDC offre des garanties bancaires, des escomptes factures, des lettres de crédit, des encaissements documentaires, des préfinancements de marché et des prêts pour dédouanement
Comment fonctionne l'EquityBCDC ?
EquityBCDC fonctionne comme un service de banque en ligne qui permet aux clients d'effectuer des opérations bancaires sans se rendre en agence ou utiliser des distributeurs à billets
Sources
- https://en.wikipedia.org/wiki/Equity_Banque_Commerciale_du_Congo
- https://www.ifc.org/en/pressroom/2023/ifc-and-equitybcdc-deepen-partnership-to-support-small-and-medium-sized-business-growth-in-the-drc
- https://financialallianceforwomen.org/members/equity-bcdc/
- https://africabusinesscommunities.com/finance/equity-bank-congo-banque-commerciale-du-congo-receive-regulatory-approval-for-merger/
- https://www.jeuneafrique.com/1627207/economie-entreprises/devancee-par-rawbank-en-rdc-equity-bcdc-continue-dafficher-une-sante-de-fer/
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