Banks and finance: Rawbank obtains a loan from the Arab Bank for Economic Development in Africa
The Congolese bank Rawbank announced in a statement the obtaining of a loan of 15 million dollars from the Arab Bank for the Economic Development in Africa (BADEA). Under the BADEA private sector window, the line of credit has a maturity of seven years, two of which are deferred. This loan marks a first collaboration between BADEA and Rawbank, with the aim of helping to support the private sector in the Democratic Republic of Congo.
“The line of credit granted by BADEA follows that obtained in December 2018 from the African Development Bank,” said Thierry Taeymans, the Managing Director of Rawbank. These two financings, totaling $ 30 million, allow Rawbank to further strengthen its capacity to finance the Congolese economy at all levels. They sign a new milestone for our bank, which coincides with a stabilization of the Congolese economy and strong growth prospects for 2019. AfDB and BADEA loans open up new horizons for Rawbank, strengthening its means at the service of its clientele. “
The largest commercial bank in the country with 25% market share, more than 400,000 customers and a balance sheet total of $ 1.37 billion in 2017, Rawbank experienced sustained growth in 2018.