Rawbank, a financial services group owned by the Congolese Rawji family, has announced strong financial results for its 2022 fiscal year, showcasing the bank’s resilience and profitability despite challenges in its operating environment.
According to the recently published financial results, Rawbank witnessed a remarkable 95-percent surge in profit during the period under review, with figures rising from $41.9 million in 2021 to an impressive $81.6 million in 2022.
This financial performance can be attributed to Rawbank’s expanding client base in terms of customer numbers and loans provided to individuals, small and medium-sized enterprises (SMEs), large corporates, mining companies, and other institutions.
The bank’s commendable performance builds upon its track record of over two decades, during which it has consistently demonstrated resilience and maintained a strong balance sheet while delivering exceptional customer service.
Mazhar Rawji, the chairman of Rawbank, expressed his satisfaction with the group’s impressive financial results, stating, “Rawbank is a robust institution capable of navigating economic uncertainties and meeting the current needs of our country.
“Our roadmap is clearer than ever: we will continue to invest in innovation, offer financial solutions tailored to our clients’ needs, particularly in the digital realm, ensure diligent risk management and compliance, and consolidate our position in the Democratic Republic of the Congo (DRC),” he added.
Launched in 2002 by the Rawji family, which possesses diverse business interests in the DRC under the Rawji Group, Rawbank is a comprehensive financial institution catering to corporates, SMEs, retail customers, and institutions.
Under the leadership of Mazhar Rawji as chairman and Mustafa Rawji as managing director, Rawbank currently operates 105 branches spread across the country and boasts a network of 300 Automated Teller Machines (ATMs).
In 2022, Rawbank’s commercial activities remained robust, with a balance sheet totaling $4.14 billion. The bank maintains a consistently high level of deposits, amounting to $3.2 billion, which reflects the market’s confidence in the institution. Notably, its loans to deposits ratio stands at an excellent 40.48 percent.
Rawbank’s impressive results highlight its ability to thrive in a challenging business environment while continuing to provide top-notch financial services to its customers. With its focus on innovation and client-centric digital solutions, Rawbank remains committed to solidifying its position as a leading financial institution in the DRC.
