Democratic Republic of Congo: Bank' lending rate increased by 8 per cent in 2010

Jan 17, 2011

Democratic Republic of Congo (DRC) central bank governor Jean-Claude Masangu Mulongo has revealed that banks' lending rate in the country increased by eight percent in 2010.

Banks' total balance sheet has also increased by 21 percent, going from $1.8 million (€1.3 million) in 2009 to $2.3 million currently. Furthermore, deposits from customers have increased by 16 percent, Reussir Business newspaper reports.

The governor welcomed these results, describing them as "a development and a strengthening" of the banking sector in comparison with risk indicators.

In DRC, Rawbank is the most important bank in terms of deposits. It has been awarded best bank of the year 2010 by the Banker, a Financial Times publication.

It runs 21 branches across the country and made a net profit of $3.14 million in 2009, a 44 percent increase compared to the previous year, news website Digital Congo reports.