Type Private Website Homepage Founded 2005 | Industry Financial Services Headquarters Kinshasa | |
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Key people David Ansell
Chairman of the Board of Directors; Celestin Mukeba Muntuabu
Managing Director Products Loans, checking, savings, investments Revenue Afertax:US$1.93 million (31 Dec 2015) Total assets 265 million USD (31 Dec 2015) Parent organization Equity Group Holdings Limited | ||
ProCredit Bank DRCongo (PBD) is a commercial bank in the Democratic Republic of the Congo. As of May 2015, it was the seventh largest commercial bank in the country, with assets exceeding US$200 million and shareholders' equity of US$25 million. At that time, its customer base exceeded 170,000.
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Overview
According to 2015 tax filings by Equity Group Holdings Limited, Procredit Bank had an asset base of about US$228.4 million, a loan book of about US$132.67 million, customer deposits of about US$185.5 million, and shareholder's equity valued at US$29 million at the time it was acquired by EGHL. Procredit made an after-tax profit valued at US$5.525 million in Calendar Year 2015. *Note: US$1.00 = KSh100.3, on 30 March 2016
Ownership
Before May 2015, three corporate entities jointly owned 79 percent of PBD's stock: Procredit Bank, the German Investment Corporation, and Stichting DOEN. The remaining 21 percent was held by KfW (12 percent) and the International Finance Corporation (9 percent).
On 26 May 2015, Equity Group Holdings Limited (EGHL) of Kenya, a large financial services conglomerate with an estimated asset base exceeding US$3.83 billion (KES:339.44 billion) and shareholders' equity exceeding US$644.6 million (KES:57.1 billion) as of 30 September 2014, announced that it had agreed to pay US$60 million for 79 percent shareholding in PBD. EGHL has a customer base exceeding 9.2 million in the five East Arican countries it serves, making it the largest commercial bank on the African continent by customer numbers. Following regulatory approval by Kenyan and Congolese authorities, which was obtained in September 2015, the shareholding in the bank looks as illustrated in the table below:
Branches
As of May 2015, PBD maintained 15 networked service branches. EGHL plans to increase the branch list to 30.
Equity Group Holdings Limited
The ProCredit Bank DRCongo's parent company, the Equity Group Holdings Limited is a large financial services conglomerate in East and Central Africa. The companies that comprise the Equity Group Holdings Limited include the following:
Shares of the Stock of Equity Group Holdings Limited, the parent company of Equity Bank, are listed on the Nairobi Stock Exchange (NSE), under the symbol EQTY. The Group's stock is also cross-listed on the Uganda Securities Exchange (USE), under the symbol EBL.