According to the IFC, the project will assist Equity BCDC DRC in scaling up of its MSME lending activities through de-risking and increasing its appetite for MSME finance. It will provide training to enable the Bank to meet the RSF quarterly and annual reporting requirements and provide operational support to assist Equity BCDC DRC to integrate the risk mitigation product into its systems and procedures for immediate execution.
According to the company's website, EquityBCDC is a subsidiary of Equity Group Holdings Plc (EGH) following the acquisition of majority shareholding of BCDC by EGH from the family of George Forrest in July 2020.
Equity BCDC is the second largest bank in Democratic Bank of Congo with a balance sheet of USD 2.5 billion and a nationwide footprint of 74 branches, 214 ATMs, 13 local dedicated desks, 3055 agents, and a customer base of nearly one million.
Equity Group has an asset base of over USD 10 billion. With over 14.2 million customers, the Group is one of the biggest banks by customer base in the Africa. The Group has a footprint of 335 branches, 52,742 Agents and 35,386 Merchants and 720 ATMs. The Group is the largest bank in market capitalization in East and Central Africa. The Banker Top 1000 World Banks 2020 ranked Equity Bank 754 overall in its global ranking, 62nd in soundness (Capital Assets to Assets ratio), 55th in terms of Profits on Capital and 20th on Return on Assets.
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No project contacts available at the time of disclosure.
Financial Intermediary - Equity BCDC DRC:
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