a billion plus… - rawbank.cd · mance, we can see our efforts turning ... 61 ng bi nak l reai t...

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A N N U A L R E P O R T 2 0 1 5

A B I L L I O N P L U S …

D E M O C R A T I C R E P U B L I C O F C O N G O

USD

MIL

LIO

NS

1,086

total assets

733

deposits

92,3

net banking income

800

1,000

600

400

200

0

RAWBANK’s first balance sheet for the year ending 31 December 2003 showed total assets of USD 33 million. Twelve years later, the bank now has total as-sets of over USD one billion… At the same time, deposits have risen from

PE R FO R MANCE OVER 13 YEARS

2003 2005 2007 20112009 20132004 2006 2008 20122010 2014 2015

This is a first in the banking sector in the DRC, confirming RAWBANK’s leadership, acquired from the day after its 10th anniversary.

USD 20 million to 733 million and net banking income from USD 2.3 million to 91.5 million. These three performance indicators have grown at a similar rate, multiplied respectively by 33, 37 and 40 times in twelve years.

USD 1 BILLION

R AW BANK’S

In thousands of Congolese francs

(CDF)

In thousands

USD

Situation as at 31 december 2015 2014 2013 2012 2011 2015/2014 2015

Total assets 999,213,599 871,993,047 667,327,172 605,516,240 480,626,904 + 15% 1,086,102

Fixed capital 127,519,336 103,675,783 87,234,253 77,912,795 53,567,381 + 23% 138,608

Deposits 674,621,112 634,634,523 511,554,734 448,571,827 367,242,839 + 6% 733,284

Disbursement loans 408,791,813 310,233,944 266,141,935 207,909,408 141,143,791 + 32% 444,339

Net banking income 84,907,637 73,459,441 58,281,213 53,590,363 38,838,533 + 16% 92,291

General operating costs 58,542,075 54,042,136 37,857,798 31,605,585 26,050,741 + 8% 63,633

Depreciation allowances and provisions 9,681,100 10,004,781 10,199,894 8,948,780 3,295,036 - 3% 10,523

Net income 8,325,964 5,381,916 5,614,384 7,391,700 6,253,394 + 55% 9,050

• Operating ratio (CIR) 68.95% 73.57% 64.96% 58.98% 67.07%

• Return on equity (ROE) 6.53% 5.19% 6.44% 9.49% 11.67%

• Return on assets (ROA) 0.83% 0.62% 0.84% 1.22% 1.30%

• Solvency ratio (ROS) 26.40% 25.60% 27.09% 24.26% 29.20%

Indicative CDF/USD exchange rates as at 31/12

920.00 920.00 905.00 900.50 905.04

Indicative CDF/EUR exchange rates as at 31/12

985.70 1,093.64 1,238.86 1,175.43 1,141.15

N U MBE R O F AC C O U N T S

K E Y FIGURE S OV ER 5 Y E A R S

FO R E I G N T R A N SF E R S in USD million, excluding interbank transfers in DRC

3,001

Outflows Inflows

2015

2014

2013

2012

2011

2,006

2,9401,889

1,931

1,506

2,563

2,676

2,954

1,495

Private and public enterprises Individuals and traders

12/2015

12/2014

12/2013

12/2012

12/2011

10,195 261,730

8,152 94,371

8,207 150,192

7,346 192,803

8,873 227,452

Individuals and traders

GR A PHS IN EQUI VA LENT USD

B A L A N C E SHE E T T O TA L F I X E D C A P I TA Lincluding subordinated loans

2013

2012

2011

2010

2013

2012

2011

2010

2014

2015

2014

2015

725,356

669,079

533,734

385,924

947,819

1,086,102

94,820

86,091

59,485

43,201

112,961

138,608

DEP O SI T S D I SBU R SE ME N T L OA N S

2013

2012

2011

2010

2013

2012

2011

2010

2014

2015

2014

2015

300,688

407,822

495,659

556,038

689,820

733,284

289,285

229,734

156,740

97,731

337,210

444,339

NE T B A NK IN G IN C O ME

2013

2012

2011

2010

2014

2015

63,349

59,216

43,131

31,920

79,709

92,291

NE T IN C O ME

2013

2012

2011

2010

2014

2015

8,169

6,944

5,727

5,613

5,850

9,050

Figures in thousands, calculated on the basis of the CFD/USD exchange rates as at 31 December

Dear customers, dear readers,

Last year, I invited you to join us “moving to the next level.” If you remember, this was the title of the 2014 Annual Report.

We have got there through the enthusiasm of all our stakeholders, associated with this momentum for growth serving all those involved in economic development. There is still a lot of work to do and effort to be made, because the task never ends. But step by step, while paying attention to quality and controlling risks, and in accordance with our strategy of monitoring perfor-mance, we can see our efforts turning into reality in the figures.

The bank has just exceeded the milestone of one billion dollars in total assets. I am even happier that this growth in the balance sheet is fully in line with our commercial development and our profitability.

These indicators demonstrate the confidence of the Congolese market in the bank. In 13 years, deposits have risen from USD 20 million to USD 733 million. The next step is to achieve deposits of one billion dollars. This will soon occur, due to the confidence of our customers, whom I would like to thank, on behalf of the Board of Directors, the Executive Committee and all our staff.

We have every confidence in the future, even though macro-economic analyses do not indicate encouraging prospects

for 2016. The mining boom – and the growth that it enabled from 2010 to 2014 – has ended. This threat to our economy must spur our leaders to take the most favourable strategic measures possible to achieve accelerated industrialisation of the country by encouraging foreign investment and by promoting the creation of a large number of SMEs in the major growth sectors of the economy. SMEs are the main source of jobs; entrepreneurs should be encouraged by promoting the competitiveness of our companies in the face of global competition.

A sign of the times is that the country is on the right track towards certain economic liberalisation and state-owned companies, which are now commercial companies, are increasingly managed according to measured and monitored performance criteria. There still remain the legal and judicial components of public governance to be brought under control, and efforts must be focused on allowing investors and economic

operators to benefit as much as possible from the DRC’s recent membership of the Organisation for the Harmonisation of Business Law in Africa (OHADA).

In this general context that leaves a few unknowns weighing on the short-term future, I confirm our willingness to contribute more than ever to the development of the Congo. The bank has become the main financial artery of this country to which our destiny is entirely and intimately linked, for the benefit of all market segments.

With this in mind, I am pleased to confirm our “bancassurance” projects. Two insurance companies will be launched in the DRC – our project is ready – one covering the life sector, the other property and casualty, under the same “RAWSUR” brand. The complementary nature of banking and insurance will enable us to quickly roll out a high-qual-ity bancassurance package.

We will achieve our aims by fully con-trolling costs and risks, paying particular attention to our returns and productivity so that, in the end, we are continuously improving our commercial, human, organisational, operational and financial performance.

In this drive towards excellence, our ongoing concern remains “Client Advantage”, in accordance with the strategy that we initiated in 2014.

Yours sincerely,

Mazhar Rawji Chairman of the Board

of Directors

RAWBANK PASSES A NEW MILESTONE

Let us encourage entrepreneurs by promoting the competitiveness of our companies in the face of global competition.

01

ANNUAL REPORT 2015 RAWBANK

05 Chapter 01 RAWBANK 2015 IN PERSPECTIVE07 Strengths and assets in the view of the Chairman of the Executive Committee

09 Business development: continuing growth

11 Corporate & Institutional Banking (CIB)13 Commercial Banking 15 Private Banking16 Retail Banking18 Across all functions: “Customer Experience”

19 The Branch Network: a strategy for strengthening a local presence

22 The Treasury Department: an outstanding nerve centre

25 Chapter 02 A NEW EFFICIENCY STRATEGY26 POINT OF VIEW - Overview by the new Deputy CEO

29 Performance in line with organisational and operating efficiency

30 The IT Department32 In perspective: Mobile Banking34 The Operations Department36 The Organisation Department

39 Chapter 03 CORPORATE GOVERNANCE40 Governance, a long-lasting, effective process40 The Board of Directors42 The Executive Committee44 The specific committees reporting to the Executive Committee45 The bank organisation chart

47 Chapter 04 RISK MANAGEMENT48 RAWBANK’s requirements in terms of risk management

49 Credit risk51 Market risk54 IT risk55 Operational risk 55 Other risk measurement indicators56 At the forefront: fighting money laundering

C O N T E N T S

RAWBANK ANNUAL REPORT 2015

02

59 Chapter 05 HUMAN RESOURCE DEVELOPMENT60 Human resources and career management report

63 The development of the Rawbank Academy

65 RAWBANK, a bank committed to Congolese society

71 Chapter 06 FINANCIAL REPORT72 Balance sheets as at 31 December 2015 and 2014

74 Income statement for the year ended 31 December 2015 and 2014

75 Statement of changes in equity for the year ended 31 December 2015 and 2014

76 Cash flows statement for the year ended 31 December 2015 and 2014

77 Independent accountants’ report

79 Chapter 07 RAWBANK NETWORKS80 Correspondent bank network

80 The Brussels representative office

80 The Shanghai representative office

81 Branch Network in the DRC

83 Postscript: the Rawji Group establishes RAWSUR

Published by General Management of RAWBANK PO Box 2499 – Kinshasa 1 Democratic Republic of Congo

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Graphics and layout A collaboration between M&C.M and De Visu - www.devisu.com

Editor Marc-F. Everaert (M&C.M sprl) [email protected] With thanks to the management and staff

Photos M.F. Everaert / RAWBANK / Istock

Printing Imprimerie Artoos | Hayez - Belgium © June 2016

ANNUAL REPORT 2015 RAWBANK

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mailto:[email protected]

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← TABLE OF CONTENTS

R A W B A N K 2 0 1 5 I N P E R S P E C T I V E

01

07 Strengths and assets in the view of the Chairman of the Executive Committee

09 Business development: continuing growth

11 Corporate & Institutional Banking (CIB)13 Commercial Banking 15 Private Banking16 Retail Banking18 Across all functions: “Customer Experience”

19 The Branch Network: a strategy for strengthening a local presence

22 The Treasury Department: an outstanding nerve centre

C H A P T E R

05


Perspective 2017: the Atrium, the Bank’s future Head Office.

In the foreground: Thierry Taeymans, Chairman of the Executive Committee.

06


S TRENG TH S A ND A S SE T S IN THE V IE W OF THE CH A IRM A N OF THE E X ECU TI V E C OMMIT TEE

A few highlights deserve particular attention:

What can we learn from 2015?

Our economy has turned the page of several years of growth in which commodity prices were reaching new heights, the mining companies were pulling a significant number of job-creating SMEs along in their wake, the commercial activities of the banks were growing strongly … At the same time, the banking sector stabilised after having experienced the arrival of a large number of new Pan-African players. Some of them have only achieved a break-

through at the price of risks which they had poorly assessed the consequences of, and which they are now suffering from.

Given this, we have continued to maintain a very active – but never aggressive – commercial approach, out of concern for our customers and the market as a whole, while maintaining full control of our operating and credit risks.

RAWBANK confirms its leading position in a market consisting of 18 banks, with an average market share of 21% of total deposits and loans, up 1% compared to 2014. According to the criteria selected, RAWBANK now has a market share of 6 to 8 points more than that of its closest competitors.

The bank now has over one billion dollars in total assets (USD 1.087 billion), or 20% of the total assets of all the banks.

Profitability is in line with GNP of USD 91.5 million and NBI exceeds USD 9 million.

These successful results are spread over the four lines of business of the sales organisation, which are all experiencing excellent market penetration with satisfactory growth rates:

• Corporate & Institutional Banking• Commercial Banking• Private Banking• Retail Banking

The credit rating was confirmed at the beginning of 2015 as ‘stable outlook’. This performance is highly appreciated in the market; it reassures correspondent banks as to RAWBANK’s standing, opens new doors with major groups active in the DRC and enables the bank to have access to new international sources of financing.

For reference, as announced in the 2014 annual report, RAWBANK became the first bank in the Democratic Republic of Congo – and also in the central African region – to obtain a credit rating from Moody’s Investor Services. The grade awarded, B3, is the highest grade a bank can receive in the DRC and is on the same level as the sovereign grade awarded to the DRC for the first time in its history in September 2013.

L E A D E R S H I P CONFIRMED

M O O D Y ’ S IN V E S T O R S E R V I C E S

1 .

07

RAWBANK 2015 IN PERSPECTIVE RAWBANK


Regardless of the concerns related to changes in the international economic outlook and its consequences for the DRC, and despite the wait-and-see policy due to the forthcoming elections in the country, the Board of Directors and the Executive Committee continue to pursue their vision of long-term development.

To illustrate RAWBANK’s aims, the following are the four main challenges that the bank intends to address successfully during the next two years:

• To extend its branch network in order to strengthen its local-ly-based services and to be able to offer services as quickly as possible in the main towns of the 26 provinces of the DRC

• To extend the penetration of the SME segment in pursuit of the momentum of 2014 and 2015

• To improve operating efficiency through a thoroughly redesigned organisational management strategy and through optimum use of its computing facilities

• To promote the new financial technologies to provide new, cheaper and high quality financial services to all customer segments

These four projects are described in the current annual report.

Two financial partnerships were concluded in 2015. One is with Proparco, amounting to USD10 million to strengthen the bank’s ability to provide loans to SMEs, and the other with Shelter Afrique, amounting to USD10.6 million to enable the bank to offer property loans. These two lines of credit were fully taken up in 2015.

RAWBANK has been certified to ISO/IEC 20000 and ISO/IEC 27001 since 21 August 2015 at the end of a process which began in April 2014.

• ISO/IEC 20000-1:2011 certification covers the system for managing IT services. Compliance with ISO 20000 standards enables IT audit and management to be improved and strengthened to meet the highest requirements in terms of governance of information technology. This optimises IT services management systems in order to reduce the risks and costs they entail.

• ISO/IEC 27001:2013 certification covers the requirements relating to establishing, implementing, updating and the continuous improvement of the information security management system, and for the assessment and treatment of security risks.

These two certifications have been awarded by BSI, an international body accredited by ISO (the International Organisation for Stand-ardisation) for the certification of enterprises using the various ISO standards.

P R O PA R C O SHELTER A F R I Q U E

I S O 2 0 0 0 0 A N D 2 7 0 0 1

R AW B A NK ’S

A IM S

In June 2015, RAWBANK was the only bank in the DRC to have sent two delegates to the week-long certified training programme organised by the International Finance Corporation (IFC) in Abidjan dealing with social and environmental responsibility.

The bank now includes the environmental performance standards adopted by the IFC in its operating procedures with regard to the “Equator Principles” used by the major international banks. These principles take social, societal and environmental criteria into account in the financing of projects.

Another first for RAWBANK in the DRC.

EN V IRONMEN TA L R E S P O N S IB IL I T Y


08


• On the Corporate & Institutional Banking market, the first half of 2015 was exceptional in terms of growth in deposits, enabling the bank to take two additional market-share points. The collapse in the prices of raw materials, including copper and oil, resulted in a follow-on downturn in deposits of companies active in these sectors during the second half of the year.

• On the SME Commercial Banking market, performance is twofold. Firstly, we have successfully met the challenge of an approach that was spe-cifically focused on small businesses in Kinshasa. We intend to extend this to cover the whole country, beginning in 2016. At the same time, we also intend to strengthen the bank’s market share of the SME segment in all regions. The bank also continues to develop business relationships between its SME customers and large corporations.

BUSINE S S DE V ELOPMENT: C ONTINUING G ROW TH

At 31 December 2015, RAWBANK had a 22% market share of total bank deposits and 19% of total loans in the DRC, confirming its leading position and the confidence of its customers.

Didier Tilman, Commercial Manager and Member of the Executive Committee:

The new sales organisation set up in 2014 is bearing fruit. It has helped to set in motion a new phase of growth, and as a result in 2015 the bank achieved success in all its lines of business.

View Didier Tilman’s message (in French)

(1’50’’)

2 .

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• In the Private Banking VIP customer segment, the bank is attracting a growing number of carefully selected customers, to whom it offers a high quality, tailor-made service in comfort-able private areas, guaranteeing confi-dentiality, both in Kinshasa – with four points of contact – and in Lubumbashi – with two points of contact.

• In the Retail Banking segment, the number of customers, total deposits and total credits continue the growth that began in previous years. The employees of major corporations who are customers of the bank have their own bank accounts and are eligible for credit facilities, in some cases of up to 15 times their monthly salary, with a repayment period of up to 5 years. In addition, 80,000 civil servants and state employees have accounts with

the bank and 34,000 INSS [National Social Security Institute] pensioners are currently having bank accounts set up.

• The RAWBANK networks are developing in line with this growth.

- The national network is now organised into five regions, each under the supervision of a Sales Manager. They are Kinshasa / West / Centre / East / South, covering all 26 provinces.

- In addition to the Brussels Repre-sentative Office, the international network will soon be extended by the opening of a representation office in Shanghai.

There are four objectives in opening this office in Shanghai:

• To strengthen contact with the parent companies of Chinese companies operating in the DRC

• To develop relationships with Chinese banks and with cor-respondent banks in particular

• To penetrate the market of Congolese merchants estab-lished in China, in particular in Guangzhou, to promote the use of the RAWBANK CHINA UNION PAY payment card

• And, in general, to keep up to date with market trends and business development prospects.

RAWBANK is working on two major projects to strengthen its sales portfolio and the quality of its services. It is optimising the efficiency of its support services and also launching an electronic banking facility.

The success of these two projects will strengthen RAWBANK’s position across the market.


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After a significant 14% increase during the first six months of 2015, deposits by major corporations and institutional customers have returned to levels slightly lower than those at the end of 2014. This rarely observed change was caused by two factors: the release, during the second half of the year, of major deposits for investment by certain enterprises which are customers of the bank and, above all, the fall in the price of copper, which has obviously had a significant impact on the reduction of the amounts repatriated by the mining companies.

Despite these external factors, RAWBANK CIB has continued to gain new customers and to strengthen its position with several existing customers, due mainly to the strength of its central-ised sales organisation.

This improved commercial approach has enabled the credit portfolio granted to major corporations to grow signifi-cantly, up by 24% in one year.

This has enabled the bank to maintain its market share of this segment, which is highly sought after by the competition.

T HE NE W BE NE F I T S O F C IB

The new benefits of the CIB line are clearly recognised and appreciated today. They include:

• Centralised management of major accounts, which enables customers whose organisation has rapidly expanded throughout the country to optimise their financial consolidation by providing a cash management service in line with their needs, with the effective support of the bank’s Treasury Department for investments and foreign exchange transactions.

CORP OR ATE & INS T IT U T ION A L BA NK ING (CIB)

Etienne Mabunda, CIB National Manager:

The CIB package offers three key benefits:

The size of the bank’s balance sheet and its financial soundness

Its extensive network, offering a range of services locally

Centralised management of customer accounts

+24%

11



• This centralisation also makes it possible to obtain an in-depth knowledge of customers, due in part to the development of a customised CRM tool, and as a result to be able to recommend the most comprehensive package in line with their needs and business, whether within the country or for import/export.

• The bank’s extended network also provides a locally based service not only for the companies themselves (for raising cash, for example) but also, and in particular, for their staff who appreciate the bank’s range of facilities (payment of salaries into a

bank account, bank cards, savings, personal loans, electronic banking, etc.).

• Assistance by the bank to SME customers and suppliers of major cor-porations to enable them to optimise their business relationships by, for example, tailored ‘distributor loan’ and ‘supplier loan’ packages.

• The enhanced ability of the bank to secure the availability of sizeable loans for major corporations. Given the level of its capital resources (USD130 million), the bank can now offer loans of up to USD25 million per customer.

Although the 2016 financial year is a difficult one, RAWBANK CIB is doing everything possible to support its customers through a high-quality portfolio that has rarely been equalled.

The bank is concentrating its efforts on new business opportunities that have not yet been taken into account by the competition and, at the same time, is strengthening its commercial approach with a comprehensive package which meets all the requirements of its major corporate and institutional customers effectively.


12


year, it has been very successful in Kinshasa, to such a degree that the project will gradually be extended to the whole of the network in 2016.

The previous annual report presented this new approach to the small business market in detail. That report mentioned that agreements were signed in 2014 with Proparco for the financing component and with the Frankfurt School of Finance & Management for the organisation and training components. Our intention was to develop a new locally based approach to SMEs so that we could meet the specific needs of access to basic banking services that this growing group of customers required.

A few significant facts illustrate the success encountered by the 25-strong team, including 14 salespeople who spend 70% of their time in the field, analysts and assessors located in the “SME” area within the Victoire Branch in the centre of Kinshasa.

• Loans amounting to USD11 million have been disbursed, with a 2% level of non-performing loans at 30 days; the risk is therefore completely under control, thanks to the analysis and management techniques that have been implemented.

• 450 new customers had loans approved in 2015.

• The Minister for SMEs, Mr Boongo Nkoy, expressed his appreciation of the bank’s new approach during his visit to the SME area on 26 May 2015, saying, “RAWBANK has taken the key decision to strengthen its management team dedicated exclusively to SMEs in order to encourage the development of this category of enterprise, which has long been marginalised by the banking system. The approach of granting loans to SMEs has changed the perception of the credit market in the DRC.”

COMMERCI A L BA NK ING

Raymond Loambo, Commercial Banking National Manager:

SMEs didn’t think that RAWBANK could offer what they needed. But with this approach, we have a comprehensive and attractive range of high-quality banking products and services.

T HE S U C C E S S O F T HE NE W ‘SM A L L E N T E R P R I SE ’ A P P R OAC H

How should we deal with small entre-preneurs, the market traders? What should we offer them to overcome needs for which the answers are not always obvious?

RAWBANK COMMERCIAL BANKING provided the appropriate answers to these questions by launching a new approach in mid-2014. At the end of 2015, the end of the first full financial

13



T HE BR E A K T HR O U G H O F C O MME RC I A L B A NK IN G IN T HE B A NK ’S BU SINE S S

The Commercial Banking line of business for the SME market is broken down into three parts:

1. Medium-sized enterprises over the bank’s entire network;

2. Small enterprises for which the specific approach described above has proved successful;

3. Lady’s First, a programme established in 2010 with the support of the Inter-national Finance Corporation (IFC) which is effective in promoting the place of women at the very heart of the bank’s customers.

2015 has been an excellent year across all these segments in terms of commercial development, with tight control over costs and risks. The Commercial Banking portfolio has grown by 69% in terms of deposits and by 35% in terms of outstanding credit.

It is RAWBANK’s intention to support the owners of SMEs more than ever in developing their business.

E N C O U R AG IN G P R O SP EC T S

A wait-and-see attitude seems to be prevalent as regards economic devel-opment in 2016. This is not preventing RAWBANK focusing more and more on the key SME segment.

• The sales organisation will be restruc-tured to create a new SME business development team within each branch.

Internal trainers have been trained to organise the Frankfurt School approach in each branch.

• The bank is preparing to implement a new approach to training courses designed by the International Finance Corporation (IFC), called Business Edge. These training programmes are intended for owners of SMEs who want to improve the management of their business and make it more competitive. Several internal trainers have received awareness training and been trained by experts from the IFC to provide these training courses, which are open to all SMEs, whether customers of the bank or not.

• Other innovative products are being prepared and should be launched during 2016 to extend the range of products for SMEs.

.

+69%


14


PRI VATE BA NK ING

RAWBANK broke new ground in the DRC by creating a Private Banking project in 2010. Since then, the concept has expanded significantly. Dedicated comfortable and discrete customer care areas have been available for the last three years for “private” customers in both Kinshasa and Lubumbashi. Relationship Managers have been specifically selected and trained to deal with customer requests and applications with professionalism and in complete confidentiality; the range of products has gradually been expanded to meet the needs of both the “Elite” and “High Ranking” VIP customer segments as precisely as possible.

The first segment includes executives of major corporations and institutions, company directors and any private individual with significant income and assets.

The second consists of influential people in various state, provincial and city authorities.

Commercial development of the Private Banking line of business continued in 2015. Deposits grew by 15% and the loan portfolio increased by 6%, reflecting the increase in the number of customers received in the six areas dedicated to them:

• Four in Kinshasa (La Couronne branch, Saint-Luc branch, the 30 Juin head office and an external counter at the hotel du Fleuve Congo);

• Two in Lubumbashi (Consulat branch opposite the head office of the bank and the Golf branch, where new offices will be fitted out).

Philippe Brylka, Private Banking National Manager:

Today, more than ever, it is essential to offer customers attention that is professional, confidential and a pleasant experience. Excellence is paramount in our relationship with our customers when providing them with opinions, advice and assistance in financial and asset management. This is our No 1 priority.

In terms of products, the “Privilege” and “Elite” packs offer a range tailored to the needs of the customer.

In addition to these packs, the Private Pass card has been added. This is unique in the DRC in terms of the services and benefits it offers Private Banking

customers, not only at RAWBANK – a preferential level of customer service by the Branch Manager or a Private Officer in every branch throughout the country – but also at selected networks of restaurants, hotels and shops in the DRC and in several other countries in Africa and Europe.

+15%

15



• Key fact: the sub-segment of so-called “potential” customers has expanded significantly. These customers belong to the middle class, which is gradually expanding in the DRC. Their income, according to the bank’s segmentation criteria, amounts to more than $1000 per month. These customers represent 10% of total retail customers, but their deposits represent 45% of total retail deposits. They use value-added products such as loans and/or savings, bank cards, RawbankOnline, etc. These customers are looked after by customer managers throughout the branch network. The number of managers is expected to increase significantly from 2016.

• The bank has gained some 80,000 civil servants and state employees in a short period of time. Most of them have bank cards, enabling them to use the network of over 300* cash machines throughout country. Some of them have Leopard loans (four times the amount of their monthly salary, repayable in 15 months) which is proving highly popular and indicates the growing interest in the bank’s services by this retail customer sub-segment.

• Several products were highly successful in 2015.

Car and motorcycle loans were popular, particularly at open day events organised by dealers. An “occase-auto” (used car) loan will be launched shortly.

The Habitat loan, launched at the beginning of 2015, did not require media coverage, as demand for it was quickly taken up. The subordi-nated loan of $10.6 million granted by Shelter Afrique for this purpose has been used in full.

Among the savings products, Fidélité continues to be attractive, with 56% of all retail deposits.

LIBERTY PACKS: two new packages intended for the so-called “potential” customer sub-segment seem to be much in demand since their recent launch:

- The Liberty + pack, consisting of a current account, Rapidos Visa Gold card, Travelia, Fidélité account, SMS Banking and RawbankOnline, all for 15,000 Congolese francs per month

- The Liberty pack, consisting of a Fidélité account, SMS Banking and RawbankOnline, all for only 6,000 Congolese francs per month

RE TA IL BA NK ING

For several years, RAWBANK has focused much of its sales efforts on the individual customer segment, which has involved significant development of the branch network and the number of ATMs, providing the best electronic banking products, payment of salaries into a bank account for employees of enterprises that are customers of the bank, and for civil servants and state employees with tailor-made loan packages…

In 2015, the success of this approach was also in line with the amount of effort made, with a significant growth in business.

T HE FO L L O W IN G HI G HL I G H T S A R E IND I C AT I V E O F T HI S G R O W T H

• The number of accounts has increased by 55,000.

• Deposits have increased by 16%; deposits by civil servants and state employees alone have grown spec-tacularly by 43%.

• The credit portfolio has had sound growth of 39%, with the growth of credit to civil servants and state employees peaking at 131%.

• It has been necessary to curb the growth of the retail credit portfolio for the first time, due to the fact that the limit set by the Board of Directors in terms of observing the prudential management ratios was reached before the end of the year. Since then, efforts to increase deposits have been made as a matter of priority.

+39%

* RAWBANK customers have access not only to more than 130 RAWBANK ATMs but also to the ATMs of three other banks: BCDC, ProCredit Bank and FBNBank under the Multipay system.


16


P R O SP EC T S

In 2016, efforts will be focused above all on improving the level of service that customers receive at the bank counters, on introducing reception desks at the counters to improve traffic flow and so reduce queuing as much as possible, together with ongoing training of staff in how to treat customers, product knowledge, and in the quality of our approach to the way we do business.

The launch of an electronic banking facility (Mobile banking – Mobile Money) will be the finishing touch to the already extensive range of banking products available to individual customers.

Jean-Paul Odent, Retail Banking National Manager*:

Business owners care about how their staff are treated at our branch counters. We are fully aware of this, and we are doing our utmost to provide our customers with the best possible experience by offering a high-quality service and providing first-class banking products, including SMS Banking, which is very much appreciated.

* Effective January 2016, Jean-Paul Odent replaces Michel Brabant, who takes up a new management position at RAWSUR.

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SE V E R A L SI G NIF I C A N T P O IN T S A R E W O R T H Y O F N O T E .

• Based on customer satisfaction surveys, there appears to be a satisfaction rate of 90%. Good? Yes, but despite everything not enough! Significant efforts are being made on the basis of the information gathered. For corporate customers, surveys are conducted in the form of individual interviews at management level.

• A network of “Quality” correspond-ents has been established within the bank’s branches and departments, with specific instructions in relation to Quality Control and monitoring. The objective: how small actions can solve small problems which, if allowed to build up, could seize up the works.

• As regards the “alternative channels”, the high level of customer satisfaction to now having access to more than 300 ATMs should be noted. The launch of Multipay (see note at the bottom of the previous page) has proved to be an immediate success; from the very first month, the initial statistics registered 5,000 transactions made by customers of the four banks concerned at cash dispensers of banks they are not customers of. This facility has therefore gone a long way towards meeting customer requirements, and the Multipay project continues to evolve.

• Still regarding the use of ATMs, customers now have the Exchange module, which permits withdrawals in Congolese francs or in dollars regardless of the currency of the account to which the card is linked. More than 10,000 transactions of this type are recorded on average each month.

Across al l f unct ions: “C US TOMER E X PERIENCE”

The Customer Experience Department has existed as part of the Sales Department since 2014 under its original name of Customer Relationship Department. This department acted as a focal point for customer complaints, such as problems in using electronic banking, the service provided at the counters, follow-up on accounting records, waiting times for dealing with applications, or calls for help about problems that cannot be solved, etc.

These complaints enabled the necessary measures to be taken to close certain gaps that users of the bank’s products and services noticed. The aim was 100% customer satisfaction!

This department quickly changed as part of the “Client Advantage” strategic plan; it widened its field of activity and took the name “Customer Experience”.

T HR E E IMP R OV E D BU SINE S S S T R E A M S:

1. Three people are in charge of the quality of the database, satisfaction surveys and complaints, respectively.

2. Five people manage the alternative channels, namely the effective use of ATMs, electronic payment terminals (with regular visits to merchants to ensure they are properly trained and manage potential technical problems) and RawbankOnline.

3. One person is responsible for monitoring the services and the devel-opment of the MoneyGramnetwork.

C O N C LU SIO N

“Client Advantage” is more than ever the theme of the actions of the Customer Experience Department.

A Support Committee has also been set up at senior management level, to ensure that appropriate solutions to any major operational problems or problems due to lack of efficiency that could affect the quality and excellence that the customer is entitled to demand can be provided.

BenefitsCustomer

90%


18


THE BR A NCH NE T WORK: A S TR ATEGY FOR S TRENG TH-ENING A LOC A L PRE SENCE

3 .

At the end of 2015, RAWBANK had 40 branches and 27 external counters as well as a number of cash desks on the premises of major corporate customers.

New branch at Lodja, in the province of

Sankuru

One of the external counters at Inga, an extension of the Matadi branch

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O P E NIN G O F 11 BR A N C HE S A ND E X T E R N A L C O U N T E R S IN 2015

Several projects were brought to a successful conclusion in 2015, in accordance with the published devel-opment plan.

• Two branches opened at Lodja and Lusambo in the new province of Sankuru in the centre of the country.

• Nine external counters have been established:

� Three in Kinshasa:

- Ndolo-Aéro, an extension of the 30 Juin branch

- “Kimbanguiste”, an extension of the UPC branch

- ISTM (Higher Institute of Medical Technology), an extension of the Ngaba branch

� One in Kolwezi, in the UAC commercial centre, covering two major districts of the city

� Five in the province of Kongo Central (ex Bas-Congo):

- Kwilu Ngongo, an extension of the Kimpese branch, on the premises of Compagnie Sucrière, plus a unit at Kwilu Ngongo station

- Yema, on the border with Angola, an extension of the Moanda branch, plus a unit in the road toll pay station area

The new external counter of the Kimpese branch at the Kwilu Ngongo factory

- Three external counters as an extension of the Matadi branch: Aidel Ticom (new dry port), Inga and Kinkanda.

The external counters generally consist of at least three people and deal with withdrawals, payments and foreign exchange up to a maximum equivalent to $10,000, as well as MoneyGram transfers.

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O N G O IN G P R O J EC T S A ND P R O SP EC T S

Four branches and external counters will be opened in Kinshasa by the end of the first half of 2016:

• The branches at Bandale, Bayaka and Bon Marché (the “3 Bs”)

• The Matete branches

• Four external counters in Engen filling stations, each consisting of two cash desks and an ATM

At the end of June 2016, RAWBANK will have 35 points of contact in Kinshasa: 17 branches and 18 external counters.

Then, by the end of 2016, and depending on the cyclical trends in the country, it is planned to extend the bank’s presence in some 15 localities throughout the country. The business plans are ready and the installation schedules have been organised.

The objective is to cover the core of the 26 provinces resulting from the recent boundary changes to the country’s provinces as quickly as possible.

R A P ID A ND L I G H T C O N S T RU C T IO N T EC HNIQ U E S

The bank opted for modular construc-tion for some of its new branches and external counters opened in 2015, offering a number of advantages such as lower investment and installation costs, speed of construction and the ability to relocate quickly if new require-ments arise. A set of modules is kept at the bank’s headquarters to be able to respond quickly to any new request.

These modular branches offer com-fortable, high-quality facilities, are constructed of materials that are made to last, and meet the security standards set by the bank’s senior management.

They are the intermediate stage between a large branch built in the traditional way and the small “container” branches such as those used at road toll pay stations.

Counter at Kwilu Ngongo station

At the end

of 2015 there were

40branchesand 27 counters

Modular construction offers several benefits: lower costs, speed of construction and the ability to relocate quickly if new requirements arise.

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THE TRE A SURY DEPA R TMENT: A N OU T S TA NDING NER V E CENTRE

4.

Antoine Kiala is the Treasury Manager:

One of RAWBANK’s strengths is its ability to respond in real time to any need for cash or liquidity by customers. We continually monitor the bank’s liquidity in conjunction with our representatives in the branches.


22


As regards managing foreign exchange risk, because the bank opted for the foreign exchange position to be decentralised, each branch manages its position in accordance with its operating limits under the supervision of the General Treasurer. Exchange rates may vary from one city to the next, taking into account local factors that cannot always be effectively managed centrally.

For your information, the USD/CDF exchange rates by city where the bank has a presence are updated daily at www.rawbank.cd.

The outlook for the second half of 2015 was not favourable for the devel-opment of investment and foreign exchange transactions of many large corporations. Oil and mining companies reduced their operations following the sharp decline in the price of their products, and some mining companies even stopped production. Despite this, RAWBANK retains an almost 30% share of the foreign exchange market in the DRC, which reflects its ability to respond effectively and with professionalism to its customers’ needs. The currencies traded are mainly the dollar and the euro, but also the Chinese renminbi, the South African rand, the Swiss franc, the Canadian dollar and the pound sterling.

A highlight of the second half of the year was the need to acquire new deposits to cope with a growing demand for credit, particularly by the Retail Banking sector. By adopting a customer-focused strategy and with the support of the

sales departments, the Treasury has been able to inject new deposits into the bank, while respecting the prudential ratios as regards managing liquidity.

At the same time, faced with interna-tional markets offering low or even negative rates, part of the bank’s cash has been invested in prime quality international bonds that are easily available and offer a yield of 2 to 5%, representing an investment portfolio three times larger than that at the end of 2014.

Vigilance is the watchword for 2016. At the start of this year, the forecasts as to the ability of the Congolese franc to maintain a certain parity with the dollar are uncertain in light of the decline in state revenues related to the reduction in oil and mining activities. In one year, the international reserves fell from USD1.8 to 1.4 billion, the equivalent of approximately five weeks’ imports.

In addition, the ever-growing use of cash machines means that there is a need for a significant supply of new banknotes, in particular in dollars. The bank must export the used banknotes that it receives in the form of payments and import new notes; monthly imports amount to approximately $180 million. This results in costs which must be taken into account in day-to-day management to cushion the impact as much as possible.

With the rapid development of sales activities, the Treasury is increasingly one of the bank’s core nerve centres and a significant profit centre. It is constantly in touch with the treasurers of large corporations, and keeps a watchful eye on the proper conduct of foreign exchange and investment transactions, as well as on the liquidity of the bank as a whole.

23



http://www.rawbank.cd/

24


A N E W E F F I C I E N C Y S T R A T E G Y

02

26 POINT OF VIEW - Overview by the new Deputy CEO

29 Performance in line with organisational and operating efficiency

30 The IT Department32 In perspective: Mobile Banking34 The Operations Department36 The Organisation Department

C H A P T E R

25


P OINT OF V IE W - OV ER V IE W BY THE NE W DEP U T Y CEO

1 .

L O O K IN G FO R WA R D T O L O N G -T E R M G R O W T H

Mustafa Rawji has been Vice-Chairman of the bank’s Executive Committee since the beginning of 2015. In June 2015, he was appointed Deputy CEO, responsible for assisting the General Manager and supervising the Logistical Support, IT, Operations and Organisation Departments. His remit, in coordination with the four managers who lead their departmental teams, is to put in place the operating efficiency tools that will enable RAWBANK to optimise its momentum for growth while reducing the size of its administrative organisation so as to create a lightweight, flexible, efficient and highly reactive tool, driving performance.

This new approach is intended to improve both the cost-to-income ratio and customer satisfaction in the use of RAWBANK products and services. It forms part of the “Client Advantage” Strategic Plan launched in 2014 and presented in the 2013 Annual Report published in May 2014.

Mustafa Rawji, Deputy CEO and Vice-Chairman of the Executive Committee:

We want a lightweight, flexible, efficient and highly reactive tool, driving performance.

From listening to staff, customers and the market as a whole, Mustafa Rawji had proposed and then implemented the “CLIENT ADVANTAGE” strategic project with the assistance of his colleagues. This gave RAWBANK a new lease of life and a new sales impetus in a market that had become hyper-competitive, and in so doing strengthened the bank’s leading position in the DRC, providing customers with better service and added value.

• One of the shareholders in the bank, he understands, assesses and shares the entrepreneurial risk.

• A member of senior management, he is a man of action, keen to drive the company forward as regards performance, and shares his desire for excellence with his colleagues on the Executive Committee, and with the managers and staff of the bank.

On both these counts, in these pages, he gives his point of view on how he sees RAWBANK developing and on its 2014-2016 “Client Advantage” business plan, addressing at the end his vision and his strategy of efficiency for driving long-term development.


26


1. The sales aspect of “Client Advantage”

“Our strategic plan looks three years ahead, covers all the bank’s activities and involves every department. Imple-menting it has had some immediate effects as a result of the motivation and involvement of members of staff who were informed through and stimulated by an intensive internal communication plan and programme.

One measure has very quickly borne fruit with regard to sales – the new segmentation of customers into four sales departments, each consisting of specifically trained bank professionals who are experienced in their respective fields (see page 8 and following of this report).

This has enabled us to organise and streamline the services we offer to maximum effect by setting up distri-bution channels specifically tailored to the needs and expectations of each of these customer segments. We have done this to the satisfaction of each of our customers, as we can measure and as evidenced by our commercial and financial results.

Among these results, one in particular deserves to be highlighted. It is the result of the new commercial approach that we initiated in September 2014, which focuses on a particularly important market segment in terms of the economic development of the DRC – that of the SMEs.

Our Commercial Banking department set out to conquer a structurally difficult market – the small and medium enterprise market, in which the majority still work in the informal sector and for which credit risk is even greater because it is difficult to assess. Although surrounded by experts, we took a risk as a banker-entrepreneur… and we were

right to do so (see page 12 of the report). It was a real challenge, and a year later we can measure the positive impact not only in terms of the bank’s profits, but, and which is even more important, on the lives of our SME customers, who are growing thanks to our support.”

2. Managing talent – the cor-nerstone of the business plan

“To support this large-scale commercial roll-out, we needed talented people who are capable of meeting our aims and, above all, an HR organisation in tune with this enormous project, whose long-term future we want to ensure.

Today, our Human Resources Department, renamed “Human Capital” and reporting directly to the General Manager, is split into three sections:

• “HR Business Partner” focuses on managing job and skill requirements so that the organisation can respond at any time and anywhere to the need for skilled staff, whether in terms of reacting quickly to a specific need or organising a planned development.

• “HR Recruitment” takes a continuously proactive approach towards recruiting the best talented people the organ-isation needs to ensure that it can support our development efficiently across all departments.

• “HR Administration” deals with the day-to-day operations which are required so that everyone working for the organisation can function smoothly and efficiently.

What is our objective?

To offer our staff a work environment within which we intend to give them the means to be trained, as a result primarily of the smooth running of the Rawbank Academy, and to be motivated, to flourish and to find enjoyment in their work so that, in the end, they satisfy the CUSTOMER, who occupies a key position in the organisation.”

3. Focus on operations management

“The developments we have just spoken about only make sense if they are backed up by first-class financial, organisational and operations management. There are two main reasons for this. Both financial performance measurement tools and decision-making instruments in terms of growth must be available.

Financial performance is dependent on strict control over and monitoring of operating costs. Optimising costs also enables the company to be better positioned in an extremely aggressive competitive market. How can we react effectively to this aggressive-ness if control over costs cannot be guaranteed? If cost rationalisation cannot be reconciled with productivity measurement? If the measurement tools do not enable the most appropriate decisions to be taken? It is all a question of financial management analysis which we are working on in order to refine our tools as quickly as possible.

At the same time, we have redeployed our Organisation Department as a strategic tool in the ongoing search to optimise our processes. More than ever before, these processes must be flexible, while retaining complete control over operational risks, but always with

27

A NEW EFFICIENCY STRATEGY RAWBANK


the aim of achieving efficiency and profitability. Within this department, an “Operational Efficiency” section has been created, whose remit is to analyse the processes, to simplify them as far as possible, and to reduce the unproduc-tive use of time and resources as much as possible. In short, to put intelligence and creativity to use to help with the organisational process. And to do this with the CUSTOMER in mind at all times.”

4. In Perspective

“In the next two years, we intend to focus our attention and efforts in the Executive Committee on the efficiency of the organisation. We have decided to focus on consolidating our gains after several years of rapid growth which, since the bank’s tenth anniversary almost three years ago, have made us market leader.

However, we do not intend to curb either our initiatives and spirit of innovation, or our growth. On the contrary, we want to keep on being involved with our customers and to respond to requests by continually releasing innovative products such as, for example, “electronic banking”

which we are ready for and which will fundamentally turn banking product usage habits upside down.

But we must take care that we do not get too carried away and ensure that we are capable of expanding in line with short, medium and long-term needs by strengthening every aspect – financial, human, technical, organisational, commercial and administrative – as much as possible.

The Board and the Executive Committee are overseeing this because we want to be a modern, efficient and competitive bank, able to serve a million customers tomorrow in a market we believe in, especially as our family has been involved in it for almost a hundred years.”

These initiatives form part of an ongoing medium and long-term thought process: would we be capable of managing a bank with a network of 200 branches? Would we be able to absorb rapid growth without causing an imbalance in our organisational and financial structure? Because the market could change very quickly…


28


T O WA R D S A NE W D IME N SIO N IN S U P P O R T SE R V I C E S

How can we facilitate growth and avoid bottlenecks in support services? Or how can we optimise the management of all the flows within the bank to improve returns, and therefore efficiency and productivity? Or yet again, how can we raise “internal customer” satisfaction, knowing that, at the end of the day, end-customer satisfaction depends on the sum of internal added value?

To put the tools in place that will enable these questions to be answered with a vision and long-term perspective of the bank’s development and its performance, the organisation chart of the main support services has been reviewed to enable each individual to focus on their core activities, coor-dinated by the Deputy CEO, who is responsible for this to the Board.

• The Resources Department takes the new name of Logistical Support Department and will focus on the development and maintenance of the network, logistics services and document management.

• The IT Department retains its operating structure but works in ever closer collaboration with the Organi-sation Department in particular.

• The Operations Department is in the process of optimising how operations entrusted to us by the customer are processed to simplify the procedures as much as possible and to free up many administrative tasks which can then be redirected to front-facing customer services.

These three departments are on the same line in the new organisation chart (see page 45).

• The Organisation Department, which was formerly the Resources Department, comes under staff insofar as it does not form part of operating activities but is located in the management, analysis and strategic planning centre with three depart-ments – banking documentation and specifications, information system development and projects, studies and organisational efficiency.

PERFORM A NCE IN L INE W ITH ORGA NIS ATION A L A ND OPER ATING EFFICIENCY

2 .

A glance at three key departments at the centre of the new process of efficiency: IT, Operations and Organisation.

The organisation chart of the main support services has been revised to enable each individual to focus on their core activities.

29



A few significant highlights should be mentioned with regard to IT develop-ment in 2015.

I S O C E R T IF I C AT IO N

RAWBANK has been certified to ISO/IEC 20000 and ISO/IEC 27001 since 21 August 2015 at the end of a process which began in April 2014.

ISO/IEC 20000-1:2011 certification covers the system for managing IT services. Compliance with ISO 20000 standards enables IT audit and management to be improved and strengthened to meet the highest requirements in terms of governance of information technology. This optimises IT services management systems in order to reduce the risks and costs they entail.

ISO/IEC 27001:2013 certification covers the requirements relating to establish-ing, implementing, updating and the continuous improvement of the data security management system, and for assessing and dealing with security risks.

These two certifications are both new guarantees of rigorousness and quality in the way internal processes are dealt with and in the provision of the bank’s services to its customers.

They were awarded by BSI, an inter-national body accredited by ISO (the International Organisation for Standardi-sation) for the certification of enterprises using the various ISO standards.

THE IT DEPA RTMEN T

RAWBANK is the first bank in Central Africa to be ISO 20000 and ISO 27001 certified simultaneously.

What could be more reassuring for all RAWBANK’s partners and stakeholders than to work with an organisation which has robust data security policies validated by a body with a world-wide reputation?

T HE MI G R AT IO N T O A MP L I T U D E V10

RAWBANK has updated its integrated core banking system in migrating to version 10 of the Sopra Banking Amplitude solution. This migration, which ended successfully in October 2015, enables the performance of the bank’s activities and the optimisation of the customer relationship to be enhanced, thus accelerating growth. Carried out in close collaboration with the Organisation Department and the Operations Department, this project required some 4,000 man-days.


30


T HE R E N OVAT IO N O F T HE C O MP U T E R C E N T R E

The V10 migration was done at the same time as the renovation of the computer centre, which risked creating an overload, given the development being undertaken by the bank. The ren-ovations took eight months, without any interruption of the bank’s operations, ending in September 2015 in line with the initial time estimate. The bank can now cope with five years of major devel-opment without the risk of its systems being overloaded.

Arvind Kumar, IT Manager and member of the Executive Committee:

The Bank has many strengths in terms of IT, one of which is to be 99% independent of any external subcontractor. We have very focused in-house experts in different areas, which gives us complete control over our tools and our risks.

IN T EG R AT IO N O F T HE M A N AG E ME N T O F V I S A , M A S T E RC A R D A ND U NIO N PAY C A R D S

The bank’s Visa, MasterCard and Union Pay services are now all managed on the same server administered by EMP (Emerging Market Payments) in Egypt, a company which provides card processing services for banks throughout Africa and the Middle East, and manages more than 130 customers in over 45 countries. The connection

between RAWBANK and EMP is by satellite with the support of VSAT integrator Sonema. The benefits are: reduced costs, better control of risks and a very high quality centralised service, from which the customer benefits.

T HE C O MP L E T IO N O F T HE M U LT IPAY P R O J EC T

Since the launch of the Multipay project on 11 December 2015, RAWBANK customers who have bank cards have access not only to more than 130 RAWBANK ATMs but also to the ATMs of three other banks: BCDC, ProCredit Bank and FBNBank, who are taking part in this project.

After two years work, there are now more than 300 ATMs as well as the EFTPOS terminals of the four banks which are accessible to customers of these banks.

Under the umbrella of the economic interest group Interswitch, which currently manages the “routing” part of the project, the system is expected to be developed further with the addition of banks interested in expanding the network.

T HE T EC HNI C A L R EC OV E RY P L A N

A back up computer centre is fully operational, installed outside the bank. It operates in real time and can therefore automatically take over from the head office computer centre if necessary.

31




32

The Board and the Executive Committee are of the opinion that electronic banking is the way forward for the bank. It is particularly important because the retail banking market is far from being saturated, as the major corporation banking market may be. But easy, flexible solutions must be available to continue the penetration of this market effectively in a country as big as the DRC.

IN PERSPECTIVE:

MOBILE BA NK ING

Mikhail Rawji, Project Manager:

The approach initiated by RAWBANK is part of an ongoing strategy of developing electronic banking tools. We want to retain control of the professions which are ours but, in order to do this, we need to move forward quickly in terms of electronic technology and think about banking being completely electronic in order to meet the challenge of mobile operators who are today challenging the banks.

RAWBANK intends to maintain its state-of-the-art position and remain at the forefront of technology so that it meets the needs of the market.



33

During the first half of 2016 RAWBANK will launch its electronic banking solution, which will be open to all, whether customers of the bank or not, independently of any mobile network.

From the end of April, beginning of May, customers who have a smartphone – regardless of the operating system – will be able to perform a certain number of transactions such as transfers from one account to another or in favour of another customer of the bank, make withdrawals from ATMs, send money by SMS, top up mobile phones, open a virtual account, check exchange rates, etc.

Through this constantly innovative approach, RAWBANK intends to maintain its state-of-the-art position and remain at the forefront of technology so that it meets the needs of the market in which the majority of people will have smartphones 5 years from now.

Easy, flexible solutions must

be available


Overall, Operations account for some 60% of the bank’s staff, including those working in branches. This makes a total of almost 800 people who look after customer requests and instructions.

In this respect, RAWBANK is highly regarded for the speed with which it processes transactions; any instruction given to the bank between 8am and 3.30pm must be processed the same day provided, of course, that it fulfils the required conditions.

Reliability is also one of the bank’s assets, as confirmed, for example, by the Euro STP Excellence Award presented in 2013 by the corresponding bank KBC.

In 2015, the Operations Department worked in close collaboration with the IT Department responsible for migrating the banking software package Amplitude to version 10. This migration makes the tool more efficient, more flexible and streamlined, and makes it possible to process many operations more quickly.

T O WA R D S G R E AT E R O P ER AT IO N A L E F F I C IE N CY

This new tool is the first stage in the “Operational efficiency” approach which will take place during 2016 and 2017 under the direction of the Deputy CEO and will result in optimising the management of financial flows within the bank and to improved performance and therefore improved efficiency and productivity.

This is increasingly important since the number of transactions processed is increasing significantly, as the figures show.

THE OPER ATIONS DEPA RTMEN T

Christian Kamanzi, Operations Manager and member of the Executive Committee:

We attach great importance to the ongoing training given to operations staff. This is what it takes to ensure the quality of their work, and we are developing training programmes in close collaboration with the Rawbank Academy, which organises not only theoretical training courses but practical ones as well to respond very quickly to needs.


34


C O N T R O L A ND C O MP L I A N C E

Control of operations and observance of the rules of compliance form part of the strict management rules implemented by the bank for a long time, reviewed on a regular basis and modified in line with changes to regulations and to internal criteria and management standards.

Prudence is also vital and is to the customer’s advantage.

The following two examples illustrate this prudential approach:

• No cheque can be paid in at bank counters if it equals or exceeds 15,000 dollars in value without the agreement of the issuer, confirmed by telephone.

• An SMS is sent to confirm that a debit or credit transaction has occurred and to log every Visa or MasterCard transaction. This enables customers to react in the event of receiving information about a transaction that they themselves did not initiate.

With regard to compliance, new tools and new databases provide improved automated analyses of data before transactions are finally logged. (See also page 56)

Reliability is also one of the bank’s strengths, as confirmed, for example, by the Euro STP Excellence Award presented in 2013 by the correspondent bank KBC.

The number of transactions processed has increased significantly.

2013 2014 2015

6,077,894

5,339,8824,810,526

+26%in 2 years

35



The Organisation Department is an offshoot of the Resources Department, which it was part of until Q4 2015. Its staff report directly to the Deputy CEO in order to focus efforts on the new “Operational efficiency” strategy already described in the previous pages, which endeavours to provide the bank with the efficiency tools that will enable it to improve its performance in the coming years.

In its new configuration, the Organ-isation Department consists of three departments.

T HE “B A NK D O C U -ME N TAT IO N A ND I S PA R A ME T E R I S AT IO N ” D EPA R T MEN T

This department provides first level support to the other departments of the bank in terms of formalising and

optimising the processes underlying RAWBANK’s activities and their impli-cations for the information system.

The IS parameterisation Department is responsible for the production of new banking software or modules (or features of the latter). Its mission extends, also and perhaps above all, to corrective maintenance (resolution of everyday problems encountered by users) and preventive maintenance (anticipation of potential concerns).

It keeps the data needed for the information system to function up to date on a daily basis. This involves the authorisation of users, definition in the system of new operations or their pricing, creation of new products, etc.

The remit of the Bank Documenta-tion Department is to analyse, produce and develop the processes governing the activities of the bank. In addition, it is also responsible for “setting in stone” all of the bank’s documentation – its procedures, instructions, its security notices and various circulars. It plays an active part in ensuring that every Rawbanker is fully committed to this documentation and supports the opening of new branches.

1

THE ORGA NIS AT ION DEPA RTMEN T

The management of the organisation is putting a lot of effort into the new “operational efficiency” strategy, which endeavours to provide the bank with the efficiency tools that will enable it to improve its performance.

T HE “ I S & P R O J EC T S DE V EL O P MEN T ” DEPA R T MEN T

The IS Development Department works in close collaboration with the IT Department and focuses on the installa-tion of new modules in the system and on updating and increasing the functionality of existing modules. For example, the new version V10 of the banking software package enables several management modules to be implemented, offering the benefit of new features improving the speed and productivity of processing operations by the various departments of the bank. Many modules are currently in the testing phase and will be implemented in line with changes to users’ needs.

The Projects Department works on the development and management of projects regardless of their nature provided they can be classified as management optimisation, whether in terms of organisational efficiency or for the benefit of the customer.

2


36


Pierre Gaube, Organisation Manager and member of the Executive Committee:

We are very clear that we want 2016 to be a year focused on organisational and operational efficiency Today, the bank has really moved up to the next level. You can no longer manage 1,300 people like you managed 300… and what is exceptional, more than ever, is the strong sense of belonging to the bank and the involvement of each member of staff in the current process of change, as well as the excellent collaboration between all departments. The success of the migration to Amplitude V10 is just one illustrative example of this positive state of mind that runs throughout the bank, its departments and its branches.

T HE “S T U D IE S A ND O RG A NI S AT IO N A L E F F I C IE N CY ” DEPA R T MEN T

Its mission is new to the bank and its role is essential in the efficiency strategy that has been established, which is to fully understand jobs and processes in order to find all the possible sources and opportunities for improvement and rationalisation. Activity mapping is a tool that enables people to work proactively.

This department has a quantified target of savings and therefore of gains also.

For example, among the actions studied and currently being implemented, a new workflow management system will gradually be deployed in 2016 to streamline, rationalise and accelerate certain processes that require a number of stages of intervention before they are successful. The aim is also to gradually replace paperwork by an intelligently used computer tool.

The benefits are: from the moment when the right tasks are routed to the right people at the right time,

• The system is streamlined

• Processing delays are avoided

• Cost management is optimised and

• “Client Advantage” is assured.

3

37



DECLARATION OF GOOD REPUTE I the undersigned, Déogratias MUTOMBO MWANA NYEMBO, Governor of the Central Bank of Congo, hereby attest that RAWBANK SA is included in the list of authorised banks and has been operating in the Democratic Republic of Congo since 11 November 2001.

Led by an entrepreneurial, modern and dynamic management team, RAWBANK SA continues to differentiate itself through the development of its national network, through its excellent services and through the launch of new banking products on the Congolese market, such as credit cards, online banking, etc.

RAWBANK SA is one of the biggest banks on the market in terms of its balance sheet, credit portfolio, return on equity, and number of counters and staff. In this respect, it is playing a leading role in restoring the country’s banking sector.

It has experienced financial growth ever since it was established, and displays healthy management indicators in terms of the standards set by the regulations in force in the country.

The various inspections carried out by the Central Bank of Congo at RAWBANK SA report that the measures to combat money laundering and the financing of terrorism, the rules in terms of KYC and protection of the environment implemented by the bank are in line with international standards.

This attestation is valid for all legal intents and purposes.

Kinshasa, 11 April 2016 Déogratias MUTOMBO MWANA NYEMBO

563, Boulevard Colonel Tshatshi - Kinshasa - Gombe [email protected] / [email protected] / [email protected]

www.bcc.cd

↘ Translation of an official document in French of the Central Bank of Congo, signed by the Governor and sent to the senior management of RAWBANK

38





www.bcc.cd

C O R P O R A T E G O V E R N A N C E

03C H A P T E R

40 Governance, a long-lasting, effective process

40 The Board of Directors42 The Executive Committee44 The specific committees reporting to the Executive Committee45 The bank organisation chart

39


GOV ERN A NCE , A LONG -L A S TING, EFFEC TI V E PROCE S S

THE BOA RD OF DIRECTOR S

Corporate governance defines the system formed by all the processes, reg-ulations, laws, rules and management and behavioural options for regulating the way in which an enterprise is admin-istered, managed and supervised, while at the same time ensuring that there is a harmonious relationship between all the stakeholders.

Governance is described in several charters that determine how the Board of Directors and the Executive Committee work. These standards of governance comply with the instructions of the Central Bank of Congo (instructions 15, 17 and 22) and satisfy internationally recognised banking management criteria.

In terms of the Board of Directors:

• The memorandum of good governance

• The charter of the Board of Directors• The charter of the Audit and Perfor-

mance Committee

In terms of the Executive Committee:

• The executive management charter• The charter of professional conduct• The compliance charter• The internal control charter• The internal audit charter• The social and environmental risk

management policy

RAWBANK meets all the requirements of the Central Bank of Congo and of all other regulatory and supervisory authorities in this respect, and is developing in accordance with the strategic standards specified by its Board of Directors. The Board also attaches particular importance to the principles of ethics, compliance,

transparency, independence and responsibility through the adoption of responsible behaviour throughout the bank, in order to ensure a long-lasting and effective process of added value consistent with the expectations of all stakeholders.

The Board of Directors is the corporate body with the widest powers for managing the bank and for producing its financial, organisational and commercial strategy to achieve its corporate purpose. It sets the guidelines for the bank’s business and ensures that they are implemented. It examines all issues concerning the running of the bank and, through its deliberations, sets the policy for those matters which relate to the bank.

The Board has various remits, which are described in the memorandum of good governance. These are restated below.

• To determine the values of the organ-isation (codes of conduct, ethical and other values) and to ensure that the executive management ensures that they are adhered to, and that all bank staff comply with all legal requirements.

• To determine the strategic direction of the bank, ideally in conjunction with the executive management, and to ensure that it is implemented.

• To reinforce the power of the executive management and provide it with legitimacy and support.

• To determine the level of risk that the bank can agree to take and to provide entrepreneurial leadership.

• To take all necessary measures to ensure the integrity of the financial statements of the bank.

• To propose the appointment of competent independent directors to the General Meeting.

• To appoint the senior management and the members of the Executive Committee and to ensure that they assume their responsibilities with competence and loyalty in accordance with the policy defined by the Board.


40


http://fr.wikipedia.org/wiki/Processus

• To carry out the inspections and checks it deems appropriate and to ensure the reliability of the financial data provided to the shareholders.

• To define and enforce clear lines of reporting responsibility at all levels of the bank.

• To ensure that the functions of risk management, compliance, code of ethics and internal audit are independ-ent, and to oversee the evaluation of the mechanisms put in place by these functions.

• To ensure that the external auditors observe the standards and professional practices applicable to their function.

• To act through specialist committees such as the Audit Committee, the Compliance Committee and the Risk Management Committee.

• To approve the remuneration of the senior management and key personnel, in compliance with the corporate culture, objectives and long-term strategy of the bank, as well as its supervisory structure.

• To ensure the effectiveness of the policies adopted and of the decisions taken by the executive management of the bank, including the implementation of its strategies.

The Board has been granted the broadest powers in order to undertake these assignments, with the exception of those that the Law and the statutes explicitly reserve for the General Meeting of Shareholders.

T HE C O MP O SI T IO N O F T HE B OA R D O F D IR EC T O R S AT 31/0 3/2016

Chairman

• Mazhar RAWJI

Executive Directors

• Thierry TAEYMANS, CEO and Chairman of the Executive Committee

• Mustafa RAWJI, Deputy CEO and Vice-Chairman of the Executive Committee

• Jean-Pierre MUTUALE, Secretary-General and member of the Executive Committee

• Antoine KIALA NDOMBELE, Treasurer

Non-Executive Directors

• Michel DECUYPERE, Chairman of the Audit Committee

• Michel NOTEBAERT, member of the Audit Committee

Independent Directors

• Alain BOUCHER, member of the Audit Committee

• Guy SAUVANET, member of the Audit Committee

T HE AU D I T C O MMI T T E E

The Audit Committee assists the Board of Directors. On its behalf, it oversees the integrity and effectiveness of the internal control and risk management measures applied by the bank, while paying special attention to correct financial reporting. It also checks the procedures drawn up by the bank to meet legal and regulatory provisions and sound governance practices.

It is made up of at least three non-ex-ecutive directors, two of whom at least are independent directors. They are appointed on the basis of their financial knowledge and/or professional quali-fications. The Chairman of the Audit Committee is appointed by the Board.

41

CORPORATE GOVERNANCE RAWBANK


C H A IR M A N

Thierry TAEYMANSCEO

Thierry Taeymans has a degree in sales engineering from the Institut Supérieur de Commerce St Louis in Brussels. His banking experience began in 1982 at Banque Belgolaise in Brussels, where he held several posts in the loans department. He undertook several assignments in Africa and in 1994 joined Banque Commerciale Zaïroise (BCZ, now BCDC). He returned to Brussels in 1999. In 2001, Mazhar Rawji called upon him to assist in the establishment of RAWBANK and he became its Managing Director. He was appointed Vice-Chairman of the Congolese Banking Association in 2008 and is secretary of the Belgian- Congolese Chamber of Commerce and Director of the Federation of Congolese Enterprises (FEC).

V I C E- C H A IR M A N

Mustafa RAWJIDEPUTY CEO

Mustafa Rawji was born in Kinshasa. He studied in London and obtained a Masters in Finance in Boston (Babson College). He began his career at Calyon Bank, firstly in Geneva and then in Paris. He assisted with the establishment of RAWBANK in 2002. Two years later, he seized the opportunity of acquiring additional international banking experience and joined HSBC in Dubai, where he worked for 5 years as a commercial executive in the Corporate Investment & Merchant Banking Department. He joined RAWBANK in September 2009 as Deputy Secretary-General. He chairs the Loans Committee, manages the Marketing & Communication Department and is Chairman of the Quality Committee. At the end of 2013 he was appointed Strategic Development Manager, and in 2014 Vice-Chairman of the Executive Committee. He was appointed Deputy CEO in 2015.

ME MBE R S

Nadeem AKHTARRISK MANAGER

Nadeem Akhtar holds a Masters degree in Finance & Audit, which he obtained in New Delhi. He has 15 years experience in the banking sector, initially as Credit Officer at an Indian bank in New Delhi. He joined RAWBANK in 2004 as Loans Manager and joined the Executive Committee in 2007 to take on the wider role of Risk Manager.

Pierre GAUBEORGANISATION MANAGER

Pierre Gaube gained a degree in sales engineering from the Université de Mons-Hainaut (Belgium) in 1995. He worked for Dexia until November 2011. He was attached to the Strategic Planning Department and then to the public sector Marketing Department of Dexia Banque (now Belfius Banque). Then he moved to the Strategic Planning and Management Information Department of Dexia Holding and then to the Strategy and Development Department, eventually becoming adviser to the Public Affairs Department of Dexia Banque. He joined RAWBANK in Kinshasa in December 2011 as national Retail Manager, becoming responsible for the Organ-isation Department in October 2012, and was appointed as Resources Manager and member of the Executive Committee in August 2013. At the end of 2015, he accepted the new strategic role of Organisation Manager.

THE E X ECU TI V E COMMIT TEE

Initiative in 2015: in June 2015 the Board appointed a Deputy CEO responsible for assisting the CEO. More specifically, he is also in charge of supervising the Logistical Support, IT, Operations and Organisation Departments. The unique nature of these departments under the supervision of the Deputy CEO reflects the desire of the Board to significantly improve the level of the services that they offer the network.

The CEO and the Executive Committee constitute the executive management of the bank.

The Managing Director is responsible for the day-to-day management of the bank and for representing it in relation to this management.

The Executive Committee assists the CEO in preparing the strategic proposals to be submitted to the Board of Directors, in supervising the bank’s operations and in analysing its performance.


42


Christian KAMANZIOPERATIONS MANAGER

Christian Kamanzi Muhindo holds a BA in Applied Economics and is an independent auditor; he has a Diploma from FUCAM in Mons (Belgium). His first professional experience was as a junior auditor at DRT-Cabinet Michel Vaes in Brussels (now Deloitte & Touche.) In 1993 he moved to Kinshasa where he was a Treasury assistant at Citibank. In 1996, he became Vice- Chairman at the Banque de Commerce et de Développement in Kinshasa with responsibility for Operations and Sales. He returned to Citibank in 2002 and was appointed Treasury Manager until 2004 when he became General Manager of the Union des Banques Congolaises. He joined RAWBANK in 2007 as a manager and a member of the Executive Committee. He is responsible for the Operations Department. He is also Chairman of the Board of Directors of Interswitch, the Economic Interest Group [GIE] responsible for coordinating the Multipay interbank project.

Balaji PRABAKARCHIEF FINANCIAL OFFICER

Balaji PRABAKAR was awarded a degree by the Institute of Chartered Accountants of India, New Delhi, in 1993 and is a Chartered Accountant. He also has the degree of Bachelor of Commerce from the University of Chennai, India. After 8 years experience in various sectors (construction, audit, consulting, the hotel industry), he came to the DRC in December 2001 as an accountant for Beltexco. He joined RAWBANK in 2004 as Deputy Accounting Manager. He was appointed Management Auditor in 2008 and Chief Financial Officer and member of the Executive Committee in January 2013.

Didier TILMANCOMMERCIAL MANAGER

Didier Tilman joined RAWBANK in September 2009 after an international career with the Fortis Group, including posts at the Banque Belgolaise. He began his career in 1990 at Générale de Banque (which later became Fortis Bank) as a university trainee where he was involved in commercial activities and then had responsibilities in the loans department. His professional career led him to spend 3 years in Nigeria, 3 years in Spain and 3 years in Hong Kong. In the interim, he satisfied his passion as a globetrotter by travelling the world on foot between 1994 and 1997. He is an international banker, and took charge of RAWBANK in Katanga at the end of 2009, joining the head office of the bank in Kinshasa at the beginning of 2014 as Commercial Manager and member of the Executive Committee.

Arvind KUMARCHIEF TECHNOLOGY OFFICER

With a Post Graduate Diploma in Computer Applications, Arvind Kumar also studied computer science and engineering in Mumbai. He began his career in 1994 as a computer programmer and then became a systems analyst, specialising in banking solutions. A little later on, he was appointed team manager at Infrasoft Technology Ltd., and consultant for the Central Bank of India on the automation of the banking system. He was recruited by RAWBANK in 2004 as a result of this experience. He is IT Manager and has been a member of the Executive Committee since March 2012.

Jean-Pierre MUTUALESECRETARY-GENERAL, EXECUTIVE DIRECTOR

Jean-Pierre Mutuale has a BA in Commerce and Finance from the University of Kinshasa. He joined the Banque Commerciale Zaïroise (BCZ, now BCDC) in 1973, where he held the posts of Branch Manager, Central Administration Departments Manager and Head of Management (Organisation & IT). He has played an active part in the various stages of the establishment of RAWBANK since 2001, becoming a member of the Executive Committee initially responsible for Organisation, IT and Human Resources. He has been Secretary-General since the end of 2009, while also overseeing governance, compliance and the administration of the branch network. He has also been a director since 2014.

43



Several specific committees report to the Executive Committee which, by agreement with the Board of Directors, defines their organisation and objectives and how they function.

Their purpose is to ensure that all services and departments of the bank operate with maximum efficiency, quality and security. These committees meet on a regular basis, each having its own predetermined schedule.

The bank has 20 specific committees. They are:

• The Commercial Committee, chaired by the Commercial Manager, meets twice a month.

• The Loans Committee, chaired by the Deputy CEO, meets weekly.

• The Budget Committee, chaired by the CEO, meets twice a month.

• The Compliance Committee, chaired by the Secretary-General, meets once a month.

• The Treasury and Investments Committee, chaired by the Chief Financial Officer, meets three times a week.

• The Human Resources Committee, chaired by the Human Capital Manager, meets once a month.

• The Marketing and Communication Committee, chaired by the CEO, meets twice a month.

• The Committee Responsible for Controlling Operational Risks, chaired by the Risks Manager, meets once a month.

• The IS Security Committee, chaired by the Risks Manager, meets once a month.

• The Collections Committee, chaired by the Risks Manager, meets twice a month.

• The Asset Liability Management Committee (ALCO), chaired by the CEO, meets twice a month.

• The Small Loans Committee, chaired by the Risks Manager, meets weekly.

• The Overdraft Monitoring Committee, chaired by the Commercial Manager, meets weekly.

• The Credit full business/business one Committee, chaired by the SME Loans Manager, meets twice a week.

• The Internal Services and Support Committee, chaired by the Deputy CEO, meets twice a month.

• The Operations Committee, chaired by the Deputy CEO, meets weekly.

• The Resources Committee, chaired by the Deputy CEO, meets twice a month.

• The IT Committee, chaired by the Deputy CEO, meets weekly.

• The Committee for Optimising the ATM and EPOS network, chaired by the Electronic Banking Back-Office Manager, meets once a month.

• The Network Development Committee, chaired by the Network Development Manager, meets twice a month.

Committees are also organised in each branch in accordance with clearly defined processes and taking the category of the branch into account. The objective is to ensure that each entity functions to the best of its ability, to control risks, to strengthen the quality of the department and to promote commercial development for the benefit of the various clearly defined customer targets. Minutes of every meeting are sent to the head office management.

Departmental meetings are also held in each head office department in accordance with clearly defined procedures and schedules in order to ensure that every function within the bank performs to the best of its ability.

THE SPECIF IC COMMIT TEE S REP ORTING TO THE E X ECU TI V E COMMIT TEE


44


THE BA NK ORGA NIS AT ION CH A RT

AUDIT COMMITTEEMichel DECUYPERE

DEPUTY CEOMustafa RAWJI,

Vice-Chairman of the Executive Committee

RISK MANAGEMENT

Nadeem AKHTAR, Member of the

Executive Committee

FINANCIAL RISK MANAGEMENT

Nadeem AKHTAR

LOANS MANAGEMENT

Nelito MBIYA a.i.

IT RISK MANAGEMENTJean-Jacques

MATONGA

OPERATIONAL RISK MANAGEMENT

Thomas TSHIMANGA a.i.

CREDIT RISK MANAGEMENT

Dave LECHUANGE

COLLECTIONSCésar MPOYI

OPERATIONS MANAGEMENT

Christian KAMANZI MUHINDO, Member of the Exec. Committee

CENTRALISED OPERATIONS

Jean-Jacques KABWE

ELECTRONIC BANKING

OPERATIONS

Ian RODRIGUES

DECENTRALISED OPERATIONS &

PROJECTSGisèle MAZENGO

CALL CENTERCédric MBIYA

SECURITY & FUNDS TRANSFERS

Vedapuriswara SARATHI

BACK OFFICE RETAIL CREDITS

Sreejith CHERAPATTA

IT MANAGEMENTArvind KUMAR, Member of the

Executive Committee

APPLICATIONSArvind KUMAR

INFRASTRUCTURES

Krishnakant NIRALA

DEVELOPMENT AND REPORTING

Ankit SHAH

ADMINISTRATION AND PROJECT

COORDINATIONPamela KAMULETA

PRODUCTION AND SUPPORT

Donascien LUKOMBO

LOGISTICS AND REAL ESTATE MANAGEMENT

Tatiana MARESCA

DEV. AND NETWORK MAINTENANCE

Tatiana MARESCA a.i.

DOCUMENT MANAGEMENT

Carine NSAVU-NZAU

LOGISTIC SERVICESHubert GOLENVAUX

CARTAGE AND GENERATORS

Wied VEREYCKEN

FINANCE MANAGEMENT

Balaji PRABAKAR, Member of the

Executive Committee

TREASURYAntoine KIALA

ACCOUNTING

Trésor MUKENGESHAYI

CORRESPONDENT BANKING

Patrick LUFULABO

BUDGET CONTROLElan KUMARAN

ACCOUNTING CONTROL

Manohar ARAVA

COMMERCIAL MANAGEMENT Didier TILMAN, Member of the

Executive Committee

CORP. & INSTITU-TIONAL BANKINGEtienne MABUNDA

COMMERCIAL BANKING

Raymond LOAMBO KATSHINGU

RETAIL BANKINGJean-Paul ODENT

PRIVATE BANKINGPhilippe BRYLKA

REGIONAL MANAGERS

> Olivier TIXIER (South)

> Hugues BOSALA MVEMBA (East)

> Vishwanath RAMACHANDRA (Kinshasa)

> Nicolas GROBELNY (Center)

> Gancho KIPULU (West)

CUSTOMER EXPERIENCE

Lucky TSHIMANGA

ORGANISATION MANAGEMENT

Pierre GAUBE, Member of the Executive Committee

BANK DOC. AND PARAMETERISATION

Pascal BARIBUTSA

IS AND PROJECT DEVELOPMENT

Joseph THIERNO LY

ORGANISATIONAL EFFICIENCY

Jean-Luc MUGOGWA

AUDITInnocent NGANDU

LEGAL

Albert OKITOSOMBA

STRAT. DEV. AND MANAGT CONTROL

Thomas DE DREUX BREZE

MARKETING & COMMUNICATION

Lydia MBAKA

HUMAN CAPITALElly KABANGU

GENERAL SECRETARIAT

Jean-Pierre MUTUALE, Secretary General, Member of the Executive Committee

GOVERNANCEOlivier KATUALA

COMPLIANCE

Isaac MUKENDI KALALA

BRANCH NETWORK ADMINISTRATIONFabrice HAINAUT

BOARD OF DIRECTORSMazhar RAWJI,

Chairman

MANAGING DIRECTORThierry TAEYMANS,

Chairman of the Executive Committee

45



46


R I S K M A N A G E M E N T

04C H A P T E R

48 RAWBANK’s requirements in terms of risk management

49 Credit risk51 Market risk54 IT risk55 Operational risk 55 Other risk measurement indicators56 At the forefront: fighting money laundering

47


R AW BA NK ’S REQUIREMENT S IN TERM S OF RISK M A N AGEMENT

1 .

The definition of the scope of risk management at RAWBANK also satisfies the regulatory requirements of the Central Bank of Congo.

The bank subscribes to the laws and regulations governing credit in force in the DRC and in particular those issued by the Central Bank of Congo such as Directives17 and 22. The bank has introduced systems for analysing, measuring and monitoring all the risks of various kinds to which its activities expose it. It ensures that credit, market, operational, interest rate, and liquidity, and also the risks associated with its outsourced activities, are properly evaluated and controlled.

The main types of risk to which the bank is exposed are:

• Credit risk

• Market risk - Interest rate risk - Exchange rate risk - Liquidity risk

• Operational risk

• IT risk

Nadeem Akhtar, Risk Manager and member of the Executive Committee:

Customers of a bank must focus on four key points: the solvency ratio, the liquidity ratio, the quality of the credit portfolio and profitability.

• Our solvency ratio is 26.4%. This is more than twice the ratio required by the Central Bank of Congo and significantly higher than the requirements of Basle 2 and Basle 3.

• RAWBANK’s liquidity is broadly sufficient to satisfy our depositors at any time.

• The quality of our credit portfolio means that there is not the slightest risk of the bank failing. Our risks in this respect are fully under control; the gross rate of outstanding debts is less than 3% and the net rate less than 2% of our equity capital.

In conclusion, RAWBANK’s solvency, liquidity and cost of risk not only give customers confidence but also reassure them that they are dealing with a bank that is fundamentally sound.

Risks are inherent to banking; any lack or insufficient control of these risks inevitably causes losses that affect prof-itability and equity capital. Persistent and large losses can lead to default, i.e. the inability to meet one’s commitments.

The scope of risk management covers policies, rules, procedures and processes that enable the risks to which the bank is exposed to be identified, measured, monitored and reduced.


48


CREDIT RI SK2 .

T HE P R O C E S SE S FO R P R OV ID IN G C R E D I T

The bank’s credit policy is the basis for checking credit risk. This policy defines the specific criteria for providing credit to each customer segment, and in particular covers the target markets, the parameters for qualitative and quantita-tive evaluation of applications for credit, the composition of the portfolio, the credit exposure ceiling, the risk consol-idation limits, the powers of approval, the classifications of credit and the pro-visioning of credit. It takes into account the nature and complexity of the bank’s activities and of the dynamics of the market while at the same time taking prudential standards and regulatory requirements into account.

The bank has adopted a process for managing structured loans that is different from that of transactional loans.

• For structured loan products, the bank sets the upper ceiling for exposure to credit risk for a group of customers with similar characteristics, profiles and/or products, with clearly defined analysis criteria. This is an economic approach to credit risk management in those cases where the potential losses

Credit risk is defined as the potential loss arising from the inability of a borrower or counterparty to honour their commitments.

Credit exposure is managed by identifying targeted markets, by selecting the appropriate credit process and by implement-ing the appropriate disbursement loan monitoring system.

and expected returns lend themselves to a predictable approach model. The bank has developed an automated reporting system to monitor the trend of the loan portfolio so that it can take the measures needed to maintain the quality of the bank’s portfolio.

• For transactional loan products, the emphasis is on the quality of the borrower and his previous credit history. Loan applications are analysed in detail to enable the Loans Committee to take decisions.

The loan analysis processes are made by separating the sales function from the “loan management” function.

Offers of credit (or loan assessments) are made by the bank’s account managers and are forwarded to the Loans Management Department for analysis.

The following steps are involved in this process:

1. Submission of the application for credit to the Loans Management Department

2. Analysis of the application by the Credit Analyst

3. Decision of the Loans Committee

4. Notification of the loan and the conditions thereof

5. Release of the loan

The Board of Directors approves the strategies and the policy regarding credit risk management. It approves the loans granted by the bank and delegates powers to the various loan committees.

The bank’s credit risk is managed by the Credit Risk Management Department, which reports directly to the bank’s Risk Manager. The Credit Risk Management Department is primarily responsible for implementing the credit risk management strategy approved by the Board of Directors, the development of the management procedures and systems for this risk, and for monitoring the quality and concentration of the bank’s credit portfolio.

The Board of Directors meets at least three times a year. The reports relating to credit risk are presented at each meeting.

C R E D I T R I SK M A N AG E ME N T

The bank examines, measures and manages the concentrations of credit risk in various categories by

• Activity sector• Customer segment • Product• Province• Borrowers and groups of borrowers• Other

The bank has set ceilings for concen-trations of credit risk in order to have a more diversified credit portfolio.

49

RISK MANAGEMENT RAWBANK


It has also established an internal credit rating system based on the quality of the customer. It identifies non-performing debts and makes suitable provision for expected losses in accordance with the directives established by the Central Bank of Congo.

The credit portfolio increased in 2015 by 31.77%, reaching $444 million with an increased share of credit to the major corporate and private individual segments.

BR E A K D O W N O F C R E D I T BY BU SINE S S SEC T O R

The bank monitors its commitments by sector. The Credit Risk Management Department monitors exposure by business sector, taking changes to the portfolio and external or cyclical elements into account. The Credit Committee provides guidelines for the anticipated sectoral exposure according to the recommendations of the Credit Risk Management Department.

+31.8%

G R O S S E X P O S U R E BY BU SINE S S SEC T O R I S A S FO L L O W S (in USD 000)20142015

Brasseries and Restaurants

Information and Communication

Mining

Petrol station services

Public Administration

Commerce

Transport and Storage

Other services for enterprises

Households

Other

4,116

37,379

45,221

24,849

25,842

71,613

16,249

38,967

61,559

19,766

12,333

26,589

40,789

91,215

20,473

107,559

22,802

27,618

87,152

17,591


50


E XC H A N G E R AT E R I SK

Exchange rate risk is the probability of a deterioration in the value of the bank (assets/profits) following an adverse change in exchange rates.

In order to minimise the losses that may arise from its exposure to exchange rate risk, the bank has established the Asset-Liability Management Committee (ALCO), whose responsibilities include overseeing, managing and monitoring exchange rate risk.

Managing exchange rate risk

The bank manages its foreign exchange risk in terms of net position between its resources and its application of funds by currency.

In accordance with Directive 14 of the Central Bank of Congo, the bank is required to observe:

• A maximum relationship of 5% between the amount of its long or short positions in each foreign currency and the amount of its regulatory capital. For the currencies that are used the most in the DRC, particularly the US dollar, the maximum allowed for this relationship is 15%.

• A maximum relationship of 15% between the amount of its long or short positions in all currencies and the amount of its regulatory capital.

The ALCO has fixed the maximum ceiling of the foreign exchange positions for each currency while complying with the limits set by the directives of the Central Bank of Congo.

IN T E R E S T R AT E R I SK

Interest rate risk is the risk of losses following a change in interest rates. It is a factor of vulnerability in the financial situation of the bank to an adverse movement in interest rates.

The rates of interest applied by the bank on transactions with customers (deposits and credits) are marginally influenced by the interest rates on the international financial markets, such as the Libor rate. On the other hand, they are influenced to a much greater extent by the rates of interest applied by competitor banks in addition to risk-related costs and financing costs.

The bank has surplus liquidity with cor-respondent banks; if there is an increase in the Libor rate on the international financial markets, the return on this surplus liquidity is improved.

Managing the interest rate risk

The bank manages its interest rate risk by gapping.

Using this method, the bank calculates this risk by taking the difference between Rate Sensitive Assets (RSA) and Rate Sensitive Liabilities (RSL). A rate-sensitive asset/liability is one whose return / cost varies according to fluctuations in base rates.

This analysis enables the bank to determine the impact of a change in the rate of interest on profits: a positive gap exists when there are more RSA than RSL, and a negative gap the other way round. In other words, in the event of an increase in market interest rates, the bank will benefit from this positive gap.

Following an increase in interest rates, the rate risk on the bank’s income will be very slight because 19.4% of total assets are considered as liquid assets placed with correspondent banks. This surplus cash does not generate any interest.

Interest rate risk is managed by the ALCO.

M A RK E T RI SK3 .

Market risk refers to the losses that may arise from the exposure of the bank to foreign exchange risk resulting from an adverse variation in the exchange rate or to rate risk resulting from an adverse variation in the rate of interest.

51



L IQ U ID I T Y R I SK

Liquidity risk, or more precisely lack of liquidity, means that the bank cannot meet its commitments because it cannot obtain the funds it needs.

Default due to a lack of liquidity is the consequence of the assessment by depositors about the ability of the bank to repay the deposits entrusted to it.

The aim of liquidity management is to ensure that payment obligations in all the currencies concerned can be met, to finance the growth of the business and to ensure the continuity of operations in the event of a crisis.

Managing liquidity risk

The ALCO established by the bank manages its structural liquidity. It has delegated the operational management of the bank’s cash position and of its daily investment activities to the Treasury Department.

The ALCO uses two tools to manage the bank’s liquidity risk:

• The liquidity gap

• The key liquidity ratios

The liquidity gap (or flow approach)

This gap is calculated by taking into account the residual maturities of all the balance sheet items for each currency and for all currencies combined.

The due dates for current and savings deposits are calculated in accordance with the directives of the Central Bank of Congo. The assumptions made are as follows:

• Current accounts 75% at maturity < 1 month and 25% at 1-2 years maturity

• Savings accounts 30% at maturity < 1 month and 70% at 1-2 years maturity

L IQ U ID I T Y G A P AT 31 D EC E MBE R 2015

In USD millions < 1 month 1-3 months 3-12 months 1-3 years >5 years Total

Total assets 592.66 50.12 173.26 210.90 59.16 1086.10

Total liabilities + equity capital 494.13 16.50 121.56 264.03 189.88 1086.10

Maturity gap 98.53 33.62 51.70 -53.13 -130.72 -

Cumulative maturity gap 98.53 132.15 183.85 130.72 0.00 -


52


The key liquidity ratios

The policy of the bank is to be highly liquid, so that it can meet any request for liquidity from customers. To achieve this objective, the Board has set a ceiling on the amount of credit commitments (including the unused credits) that the bank may grant, taking into account average deposits over twelve months. The ratio between the credit commitments and the total sum of deposits, provisions and medium-term loans granted by financial institutions amounted to 63% at 31 December 2015.

The ALCO follows the change of the various ratios to measure liquidity and financing risk.

Below, some important ratios used by the bank to measure its liquidity risk with their meaning:

• Ratio liquid assets < 3 months / Total assets (≥ 35%):

For this ratio, only the following assets are regarded as liquid:

- Cash

- The surplus cash holdings at the Central Bank of Congo

- Investments in bonds, Treasury bonds realisable within 3 months

- Deposits with correspondent banks having less than 3 months left to run

• Ratio loans / deposits (≤ 50%):

This ratio is calculated by expressing the loans and advances to customers as a percentage of total deposits (sight deposits, term deposits and savings deposits).

Thus, at 31 December 2015, the ratio credits / total sum of deposits, provisions and medium-term loans granted by financial institutions amounted to 55%. This rapid increase in customer credit during 2015 fully reflects the role played by the bank in financing the economy in terms of providing its customers with credit. However, it should be pointed out that the credit ceiling is fixed by the bank by taking into account all the other sources of financing, namely medium and long terms borrowing (financial institutions), which improves and clearly strengthens this financing ratio.

• Liquidity ratio or short-term liquidity (≥ 100%):

This ratio is the relationship between the application of funds and the resources at one month at most and is calculated according to Directive No. 14 of the Central Bank of Congo. It is calculated in three ways: in the local currency, in foreign currencies and based on all currencies combined.

At 31 December 2015, these liquidity ratios were 149.4% for all currencies combined, 182.6% for the local currency and 144.0% for foreign currency. These ratios are consistent with the regulatory limit greater than 100%.

• Transformation over the medium and long term (≥ 80%):

In accordance with Directive 14 of the CBC, banks are required to observe a minimum relationship of 80% between fixed capital and the book value of the fixed assets. However, prudential equity must cover tangible fixed assets in full. The relationship established in this way consists of the elements of the resources and the application of funds whose initial duration is greater than one year or for the fraction of the period remaining to run for over one year.

At 31 December 2015, the transforma-tion ratio over the medium and long term was 93.3%, above the regulatory limit of 80%.

Process

The liquidity indicators are monitored and analysed daily by Risk Management; the ALM report also covering the changes to the key liquidity ratios is presented at the monthly meetings of the ALCO.

In USD millions < 1 month 1-3 months 3-12 months 1-3 years >5 years Total

Total assets 592.66 50.12 173.26 210.90 59.16 1086.10

Total liabilities + equity capital 494.13 16.50 121.56 264.03 189.88 1086.10

Maturity gap 98.53 33.62 51.70 -53.13 -130.72 -

Cumulative maturity gap 98.53 132.15 183.85 130.72 0.00 -

53



IT RI SK4.

IT risk is a risk inherent to computing and can logically and almost naturally be the basis of operational risks occurring, especially in the context of financial institutions or credit providers.

A badly configured accounting appli-cation may be the cause of excessive or lower charges being levied and thus distort the financial results during a given period.

IT risk management is undertaken at the bank through a process of identifying the main IT risks in relation to areas such as:

• Application access

• System configuration (anti-virus, firewall, etc.)

• Back-up and management of critical data

• Communication and telecommu-nication through the computer network…

The mechanism for managing IT risks currently led by Information Systems Security covers several areas of security, including:

• Management of user access to the information system by reviewing the system access logs

• Management of updates to anti-virus, firewall and other protection facilities installed in the system

• Management of backups and other critical data through secure logs made by the IT Department. It should be noted that the bank has an external computer centre that acts as a real-time backup, enabling the risk of business stopping in the event of a serious disaster, resulting in the destruction of data in production or a total lack of access to these data, to be circumvented.

• Management of communications by installing completely redundant lines between the branches and the various data processing units across the computing network.

The IT Risk Management Manager is responsible for ensuring that all the recommendations and measures taken to correct the anomalies found are implemented. The reports on the status of the implementation of the recommendations are presented to the IT Risks Committee, which meets once a month.

Under control overall, although subject to continuous improvement, IT risks within the bank remain at their lowest level of impact and occurrence. All this currently puts RAWBANK among the financial institutions of the country whose computing activities and IT risks are well managed.

RAWBANK is the only bank in the DRC certified to ISO/IEC 20000 and ISO/IEC 27001 since 21 August 2015 (see page 30).

RAWBANK is the only bank in the DRC certified to ISO/IEC 20000 and ISO/IEC 27001


54


5.

Operational risk is defined as a risk of direct or indirect losses resulting from inadequate or defective internal processes, systems or external events, or inadequacies or failures by individuals. This definition includes legal risk and reputational risk.

The bank has established the Opera-tional Risk Management Department, which reports directly to the bank’s Risk Manager.

This department is split into three sections:

1. The section that continuously monitors accounts at risk and gathers data on losses and incidents;

2. The section that assesses the internal control system;

3. The section that audits and monitors in real time.

OPER ATION A L RI SK

The department’s reports are presented to the Operational Risk Committee to enable the organisation to initiate any necessary corrective action.

S O LV E N CY R AT IO

Directive 14 of the Central Bank of Congo stipulates that, in managing their resources, the banks are required to observe a minimum 10% relationship between prudential equity and total banking risk, and a minimum 7% rela-tionship between Tier I equity capital and total banking risk.

This ratio reflects the importance of equity capital (capital + profits) in relation to liabilities; in other words the

amounts that the bank has committed (loans granted, other assets). This ratio reflects the importance of regulatory capital compared to the total amounts of assets at risk.

The bank has always maintained this ratio to the standards laid down by this directive.

L E V ER AG E R AT IO

This ratio is calculated by the relationship of equity capital over total assets. This indicator is used by the bank to assess the adequacy of its equity capital in relation to the size of its balance sheet.

At 31 December 2015, this ratio was 12.8%, higher than the bank’s minimum internal limit, set at 5%.

OTHER RI SK ME A SUREMENT INDICATOR S

6.

55



Transaction security by preventing the use of the bank’s services for illegal and criminal purposes is top of the Board of Directors’ and the Executive Commit-tee’s list of priorities, of which the fight against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction constitute one of the main levers.

The bank has three priorities:

• To respond to the legal and regulatory requirement requiring financial institu-tions in particular to adopt a method and effective tools for fighting money laundering.

• To ensure the reliability of transactions in response to the ever-growing requirement for transparency in relation to carrying out international transactions in order to increase the competitiveness of the bank in this area.

• To enhance the reputation of RAWBANK and its image as an institution that is also a citizen by participating effec-tively in this fight in accordance with its economic commitment.

RAWBANK uses variables in assessing the level of risk that the presence of a risk factor at a customer or in a transac-tion may entail. These variables, taken into account individually or together, enable the potential risk to be increased or reduced, and therefore to have an impact on the nature of the monitoring measures to be implemented.

These variables include the following:

• The subject of an account or relationship

• The volume of transactions carried out or planned as well as the profile of the parties involved

At the foref ront: FIG HTING MONE Y L AUNDERING

• The consistency or length of the business relationship

The structure of the anti-money laundering (AML) programme is as follows:

• Formalisation of applicable procedures and internal rules in relation to AML

• Appointment of an AML manager

• Establishment of a continuous training programme of staff and management in AML

• Regular and independent reviews of the function/entity in charge of AML

RAWBANK has designated an AML manager whose remit includes ensuring that the rules contained in the AML Policy Document are applied and updated without fail.

The Compliance Department Manager acts as the bank’s AML Manager (see box).

Isaac Kalala, Compliance Department Manager:

We have automated our checks in relation to the fight against money laundering, from when we first enter into a relationship with the customer to logging his banking operations, using 78 scenarios activated in the AML software (obtained from Sopra Banking Software).

This gives us a 360° reading of the operations going through the bank based on skilfully developed scenarios and based on the models of both national and international requirements applicable to our business, while basing our entire approach on filtering, scoring and efficient list management.

This migration has many benefits, and can be broken down in terms of effectiveness, reliability, speed, productivity, less checking and more analyses.

• For our staff, this is nothing more than one more step in optimising our operating processes, while at the same time gaining in terms of analysis and enlarging our audit trails.


56


• The bank responds to all requests by correspondent banks and competent authorities regarding AML.

In the name and on behalf of the bank he produces reports in the event of anything suspicious with regard to transactions and/or customer activities covered by Articles 21 and following of Act 04/016 of 19 July 2004 relating to the fight against money laundering and the financing of terrorism.

He is also the preferred point of contact with the authorities and other partners in relation to AML. He is fully cognisant of the relevant regulatory texts and monitors any changes to them.

Senior management is responsible for ensuring that the line manager of the ALM manager is at a sufficiently high level in the management structure for him to guarantee that he can perform his duties completely independently.

In order to ensure that the ALM policy and subsequent procedures are applied appropriately at all times, senior management makes sure that the following three levels of checks (lines of defence) are implemented:

• The first level check by operational staff and their respective line managers

• The second level check by the entity in charge of AML

• The third level check by Internal Audit

• For our customers, it is the assurance that their accounts are maintained and managed effectively, putting their actual risk profile first when assessing their transactions.

• For our correspondent banks, who appreciate working with reputable banks, it is a guarantee of the financial transparency that is so necessary in relationships with banking counterparties.

• For the regulatory authorities, it is an opportunity for them to reassure themselves that the legal and regulatory requirements are integrated into our business operations.

At the same time, we are expanding our FATCA [American Foreign Account Tax Compliance Act] controls which became effective in July 2014 to better satisfy the requirements of the US tax authorities by strict observance of the rules intended to combat tax evasion by American subjects and entities.

He is responsible for ensuring at all times that:

• The policy and subsequent procedures take account of any changes in the relevant legislation.

• All personnel concerned have been trained and made aware of AML issues and of this policy.

• Any suspicious transactions are clearly identified and monitored.

• The necessary checks in relation to AML are regularly and properly performed.

57



58


H U M A N R E S O U R C E D E V E L O P M E N T

05

60 Human resources and career management report

63 The development of the Rawbank Academy

65 RAWBANK, a bank committed to Congolese society

C H A P T E R

59


The change of name of the Human Resources Department to the “Human Capital” Department, which took place in mid-2015, reflects the desire of senior management to associate all Rawbankers more than ever before with the process of development and the ever-growing involvement of the bank in Congolese society. To optimise this approach, the Human Capital Department now reports directly to the CEO.

By gradually establishing a for-ward-looking approach to managing staff and skills, the Human Capital Department is making every effort to enhance qualifications, experience and individual knowledge for the benefit of the bank and its environment as a whole in the context of an ongoing, proactive and preventive analysis of organisational needs.

This new approach is all the more justified as the bank employs 1,373 people, a number that has multiplied by a factor of 2.7 in five years.

Some statistics as at 31/12/2015 illustrate the make-up of RAWBANK’s human capital.

T O TA L N U MBE R O F E MP L OY E E S (O P E N E ND E D A ND F I X E D T E R M)

HUM A N RE SOURCE S A ND CA REER M A N AGEMEN T REP ORT

1 .

T HE AG E P Y R A MID

2010 20132011 20142012 2015

x2.7

474 899

20-29 30-39 40-49 50-59 60 and over

1%2%

17%

54%

26%

1,373

515


60


IN T E R- C U LT U R A L R I C HNE S S

RAWBANK has staff of nine different nationalities in its teams: Congolese, Indians, Pakistanis, Belgians, British, French, Lebanese, Senegalese and Chinese.

This mix of nationalities and cultures is an asset for the bank, both internally and externally.

Only 5% of RAWBANK staff are expatri-ates, however, which demonstrates the commitment of the bank to enriching its workforce by recruiting and training local, high quality “human capital”.

T HE O RG A NI S AT IO N O F T HE H U M A N C A P I TA L DEPA R T MEN T

Now reporting directly to the CEO, the Human Capital Department has been reorganised to some extent so that it can support the implementation of projects to optimise the organisational efficiency of the bank.

The department consists of four sections, as described in “Points of view – Overview by the new Deputy CEO” on pages 23 and following:

• “HR Business Partner” focuses on managing forecast staffing and skills requirements so that the bank can respond at any time and anywhere to the need for skilled staff, whether in terms of reacting quickly to a specific need or organising a planned development.

3%

D I S T R IBU T IO N BY P R O F E S SIO N

Field workers Support staff Senior executives

The shape of the age pyramid illustrates the youthful nature of the bank and its dynamism.

More than half of the employees are in the 30-39 age group, which brings together youth, vitality, experience and know-how. They can rely on the expertise of the 40-60 years-old and on the motivation to learn of those less than 30.

20%

77%

61

HUMAN RESOURCE DEVELOPMENT RAWBANK


• “HR Recruitment” takes a continuously proactive approach towards recruiting the best talented people the organ-isation needs to ensure that it can support development efficiently across all departments.

• “HR Administration” deals with the day-to-day operations which are required so that everyone working for the organisation can function smoothly and efficiently.

• The Rawbank Academy.

A DD R E S SIN G T HE C H A L L E N G E O F E F F I C IE N CY

A precise mapping of jobs is essential to address the challenge of organisational efficiency effectively. It was finalised in October 2015 and all the function sheets will be finalised by April 2016.

It requires being able to answer the following questions at any time:

• Which functions for which jobs?

• Which skills for which jobs and for which functions?

• Which skills are lacking or insufficiently developed?

• Which training programmes should be established to improve skills?

• How should we respond to the needs formulated by management, depart-ments, sections and branches?

• How can we satisfy and motivate talented people in their career devel-opment objectives in the medium and long term?

• How can we retain talented people better, without holding them back and with plans for supporting and developing their careers?

Everything is now in place to answer these questions, taking the imperatives of efficiency, and therefore of perfor-mance and productivity, into account.

In this approach towards greater efficiency, the human capital of the bank will develop towards less administration and more customer service as a result of the bank’s new management tools, which are gradually being implemented. Training plans will support these changes and enable talented individuals to adapt to new functions and roles.

Cross-functional mobility is now a reality, backed up since 2015 by the pub-lication of a mobility charter specifying the mobility criteria and procedures in the bank and also in the Rawji Group.

The recruitment of external talented people is focused on positions for which the skills do not exist within the bank itself.

The rate at which new branches are opening, however, requires new staff to be hired: 60 in 2015, mostly recruited locally.

It is obvious that ongoing training is key to supporting the gradual transfor-mation of the organisation. The role of the Rawbank Academy is fundamental, therefore.

“Towards less administration and more customer service”


62


Le savoir n’est pas un pouvoir, c’est un trésor qu’il faut savoir partager

Too often regarded by enterprises as a source of expenditure, training is considered by RAWBANK as a major strategic investment for the develop-ment and performance of the bank, with regard to the customer and in applying the regulatory constraints that are typical of the financial environment.

Created more than five years ago, the Rawbank Academy responds to the needs and expectations of departments and individuals in respect of ongoing training in all roles in the bank and in raising awareness of its corporate culture, whose main values are: a com-petitive spirit, determination, respect, competence and team spirit.

At the end of 2015, the Academy employed ten people, including four trainers, supported by a number of internal trainers and a range of high-quality external trainers.

A number of key facts deserve mention during the past year:

• The certification of 13 members of staff from different departments in “PRINCE2” project management methodology, (PRojects IN Controlled Environments), a project management approach based on processes which

provides an easily adaptable and scalable method for managing all types of projects.

• The training of managers and senior executives of the bank in the civil and criminal liabilities of corporate officers in the context of OHADA [Organisation for the Harmonisation of Business Law in Africa].

• The creation of two branches of the Rawbank Academy in Lubumbashi and Goma.

• The setting up of a group of 17 internal trainers.

The training statistics were: 3,736 man-hours and 1,624 people of all categories and all departments received training.

2 . THE DE V ELOPMEN T OF THE R AW BA NK AC A DEM Y

Ongoing training in all roles in the bank

1,624people trained

in 2015

Knowledge is not power, it is a treasure that you must know how to share

63



ALONGSIDE TRAINING: SERMike Mutombo Luamba, Rawbank Academy Manager:

The Rawbank Academy intends to support the bank in developing its policy in the area of social and environmental responsibility (SER) through a programme of awareness and training which is gradually being extended to all staff.

The Academy is based on the ISO 26000 standard which “provides guidance on how businesses and organisations should operate in a socially responsible way. This means acting in an ethical and transparent way that contributes to the health and well-being of society”.

Seven areas of key questions are listed below as topics to be taken into consideration in the organisa-tion in terms of the prospects for sustainable development and for promoting it:

• Human rights

• Working relationships and conditions

• The environment

• The fairness of practices through ethical conduct

• Consumption

• The community and local development

• The governance of the organisation

The benefits of SER to the bank are many, including and mainly:

• Anticipating constraints

• Preventing risks

• Reducing costs

• Improving the bank’s image and thus awareness of it

• Enhancing its reputation

• With, as a consequence, a competitive edge over the market

An improvement in performance in environmental, social and economic issues automatically follows from this.


64


K INFO R16

RAWBANK was official sponsor of the Kinshasa 2016 International Forum (KinFor16) organised by Africa Rise, a Belgian organisation whose purpose is to facilitate contacts between European entrepreneurs and their African counterparts and to participate in the economic and social emergence of the African continent.

3 . R AW BA NK , A BA NK C OMMIT TED TO C ONGOLE SE S OCIE T Y

The participants, mostly entrepreneurs, came from several countries in Africa, Europe and America. The theme of the day was “The emergence of the DRC through entrepreneurship and corporate social responsibility.” As official sponsor of KinFor16, RAWBANK, through its LADY’S FIRST programme, sponsored two workshops: “Female entrepre-neurship in the DRC” and “Investment in the DRC.”

L A DY ’S F IR S T E N C O U R AG E S SE L F- EN T R EP R ENEU R SHIP BY F E M A L E ME MBE R S O F T HE M C B

As part of the activities marking Inter-national Women’s Day, the Savings and Loans for Well-being Cooperative (MCB), most of whose members come from Kinkole in the commune of N’Sele, organised an Awareness Day on Sunday 8 March on the occasion of which it received Patience Barandenge, manager of the Rawbank “Lady’s First” programme, at the headquarters of Cosces, Boulevard Lumumba.

Patience Barandenge encouraged the women to take action in relation to the theme of the day: “The empowerment and participation of women in decision-making bodies.”

Human development is a major challenge for society. RAWBANK is concerned to see talent emerge in its teams, but also pays attention to changes in the society that surrounds it. For this reason, the bank plays an active part in supporting economic, social, cultural, sporting and environmental development activities.

The following are some of the achievements of 2015.

RAWBANK, official sponsor of KinFor16

The bank plays an active part in supporting development.

65



Speaking about the LADY’S FIRST programme, the representative from RAWBANK reiterated her main objective of improving access by women to financial services and to strengthening their managerial capabilities through training.

The MCB Cooperative has been active for the last two years in terms of achieving the Millennium Goals. Its objective is the empowerment of the women of Kinkole through training and by granting micro credits, enabling them to take matters into their own hands and increase their resources.

A training course for female entrepre-neurs who are customers of RAWBANK was held between 27 January and 12 February 2015 in the province of Katanga, and then in Lubumbashi, Likasi and Kolwezi, as part of the LADY’S FIRST programme.

The aim was to contribute towards strengthening the capability of female entrepreneurs selected by the programme, which consisted of the following three training modules:

• Developing a business plan for my store

• Developing a competitive marketing strategy for my SME to be better at selling

• Monitoring and controlling the costs of my SME

These three modules are products of the International Finance Corporation (IFC - World Bank Group), that AFAD (Antenne de Formation à Distance) [a branch of distance learning] has put into context according to the needs identified, expressed and demonstrated by female entrepreneurs from the province of Katanga. Before they were delivered, AFAD took care to adapt their content to the socio-economic realities of the province of Katanga in general and of the three targeted cities in particular.

A financial education meeting was led for nearly two hours by Patience Barandenge, National Manager of the LADY’S FIRST programme. A certificate was presented to each participant at the end of the training.

L A DY ’S F IR S T S T R E N G T HE N S T HE M A N AG E R I A L C A PA BIL I T Y O F F E M A L E E N T R E P R E NEU R S IN K ATA N G A

LADY’S FIRST, the empowerment of women

The giant Christmas tree brightened up the place du 30 Juin


66


A G I A N T F IR T R E E IN T HE P L AC E D U 3 0 J U IN

A gift from RAWBANK: a beautiful giant Christmas tree in the place du 30 Juin, installed by Plexi Light and financed by the bank.

During the Christmas and New Year’s Eve festivities the place du 30 Juin, located not far from the central station, the historic quarter of the capital, was in festive mood. This year, this giant show-piece was 16 metres high and 9 metres in diameter.

T HIR T E E N T H IN T E R N A-T IO N A L SH O W J U MP IN G C O MP E T I T IO N AT T HE C E RC L E HIP P IQ U E D E K IN SH A S A

The 13th international show jumping competition took place on 20 – 22 November 2015 at the CHK (Kinshasa Equestrian Centre). This major event attracts many international riders each year. RAWBANK is the official partner. At the end of the 3-day competition comprising 15 events, the Belgian Eric Van Santfoort, riding the mare RAWBANK ALZUR OPAL, won the Congo Rawbank grand prize. This sporting event provided lovers of equestrianism with a delightful spectacle.

T HE R AWJ I FO U NDAT IO N

The RAWJI Foundation is an apolitical, non-governmental and non-confessional charitable institution. It contributes towards the training of young Congolese and encourages the develop-ment of the DRC by:

• Establishing schools

• Establishing hospitals

• Establishing leisure centres

• Establishing radio and television stations

• Establishing old people’s homes

• Developing sources of drinking water

• Taking care of students by providing study grants

• Educational assistance for the children of the members of staff of RAWJI Group companies including RAWBANK

The resources of the foundation are provided by the co-founders, State grants, benefactor organi-sations, donations and legacies, and voluntary contributions.

RAWBANK is an official partner of the International Show Jumping Competition

67



R AW B A NK S U P P O R T S NE W G E NE R AT IO N A S T HE Y L IF T T HE L IP R O B A K IN C U P

These talented youngsters sponsored by RAWBANK put on a flawless per-formance in the Kinshasa province basketball league. They were crowned champions of Kinshasa on Wednesday, 29 July. The team were undefeated, winning 21 matches.

For their coach, AdéKoko, the secret of his team is hard work. “This is a great achievement and the first time anyone has won the league without conceding a match. This is all down to hard work. We never gave up and continued to put in the extra effort needed. We stayed focused, never underestimated any of our adversaries and took every match seriously.”

Upcoming challenges for New Generation: The Coupe du Congo and the Africa zone competition. This impressive team can count on the support of RAWBANK, which assists in discovering Congolese talent and in the development of the sporting and cultural sector.

R AW B A NK P R OV IDE S EQ U IP ME N T FO R A S. V C LU B

Under the terms of the partnership between RAWBANK and AS. Vita-club, the bank has provided the players and staff with equipment in the club’s colours and logos. As well as being beneficial to both partners, it also strengthens the partnership between Rawbank and V-club which has been very fruitful so far.

R AW B A NK M A K E S A D O N AT IO N T O WA R D S T HE C O N S T RU C T IO N O F A NE W BL O C K AT T HE F I S T U L A C L INI C

RAWBANK senior management attended the inauguration ceremony of a new hospital block of the Fistula Clinic in the Hôpital Saint Joseph BDOM Kinshasa on 21 October last. This clinic provides high-quality care for women suffering from an obstetric fistula and trains doctors and nurses to improve their skills in looking after pregnant women before, during and after childbirth. RAWBANK has helped to make this project possible through the Kin Accueil Association.

RAWBANK supports New Generation.

RAWBANK assists in discovering Congolese talent and in the development of the sporting and cultural sector.


68


On Friday 23 May, RAWBANK organised an exceptional evening devoted to an exhibition of works of art in plexiglass by the artist painter Roger Botembe at the private residence of the Chief Executive Officer. Several members of the government attended the ceremony.

During the course of the evening, the artist unveiled a preview of his latest book entitled “Sakofa”, an exceptional work of art devoted the works he created between 2003 and 2013 and to the thirty years of his artistic career. An auction was held at the event.

In 2003, RAWBANK had already supported the publishing of another book by Roger Botembe entitled “Trans-symbolism of the African mask”, in which he aimed to transcend tradition by adding the Congo of today to it to show what the Africa of tomorrow will be like.

Even today, this quest for African renais-sance can be seen in “Sakofa” whose title refers to this bird, a symbol of the wisdom, knowledge and memory of peoples.

G A L A E V E NIN G D E VO T E D T O A N E X HIBI T IO N O F W O R K S O F A R T BY T HE A R T I S T PA IN T E R R O G E R B O T E MBE

A new hospital block in the Fistula Clinic (Hôpital

Saint Joseph BDOM Kinshasa)

A work of art dedicated to the artist

Roger Botembe

RAWBANK supports Congolese creators in artistic disciplines such as literature, music and the visual arts. It is in this way that it contributes towards the discovery of rare or unpublished artistic works and promotes the emergence of worthy Congolese creators and interpreters on the international scene.

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70


F I N A N C I A L R E P O R T

06

72 Balance sheets as at 31 December 2015 and 2014

74 Income statement for the year ended 31 December 2015 and 2014

75 Statement of changes in equity for the year ended 31 December 2015 and 2014

76 Cash flows statement for the year ended 31 December 2015 and 2014

77 Independent accountants’ report

C H A P T E R

71


BA L A NCE SHEE T S A S AT 31 DECEMBER 2015 A ND 2014 Expressed in thousands of Congolese Francs - CDF

1 .

A S SE T S31/12/2015 31/12/2014

Treasury and interbank operations

Cash and balances with Central Bank of Congo 190,507,240 198,431,724

Other banks 279,049,002 277,458,406

Treasury bills 39,873,000 15,465,000

509,429,242 491,355,130

Operations with customers

Bills receivable 14,716,139 20,458,816

Loans and advances 394,075,674 289,774,128

408,791,813 310,232,944

Other assets

Prepaid expenses and others 27,734,416 21,782,786

Sundry debtors 4,498,647 3,345,934

32,233,063 25,128,720

Fixed assets

Net fixed assets 47,872,427 44,489,656

Deposit and Cautions 887,054 786,597

48,759,481 45,276,253

Total assets 999,213,599 871,993,047

O F F B A L A N C E SHE E T

Commitments engaged 95,752,360 64,878,986

Commitments received 315,040,747 337,330,982

Forward exchange operations 36,325,000 36,325,000

Internal commitments 3,646,909 3,407,830

Total off balance sheet 450,765,016 441,942,798


72


L I A BIL I T IE S31/12/2015 31/12/2014

Treasury and interbank operations

Due to Central Bank 59,255,889 12,966,039

Banks and other financial institutions 8,885,514 688,277

68,141,403 13,654,316

Operations with customers

Current and savings accounts 592,289,545 556,524,563

Term deposits 82,331,567 78,109,960

674,621,112 634,634,523

Sundry creditors and other liabilities

Accruals and other liabilities 79,285,651 77,157,006

Sundry creditors 23,545,066 22,539,420

102,830,717 99,696,426

NON CURRENT LIABILITES

Equity

Share capital 74,987,207 70,143,495

Legal reserves 3,755,252 3,217,060

Profit for the year 8,325,964 5,381,916

Revaluation reserve 8,251,501 8,251,501

95,319,924 86,993,972

General provision 9,199,412 7,481,810

Other non-current liabilities

Subordinated loan 23,000,000 9,200,000

Long term loan - Proparco 7,527,254 9,200,000

Long term loan - IFC 8,821,777 11,132,000

Loan Shelter Africa 9,752,000 -

49,101,031 29,532,000

Total liabilities 999,213,599 871,993,047

73

FINANCIAL REPORT RAWBANK


31/12/2015 31/12/2014

Income from treasury and interbank operations 1,178,558 1,048,480

Income from operations with customers 56,770,679 49,572,171

Expenses on treasury and interbank operations (610,215) (981,330)

Expenses on operations with customers (6,617,824) (5,660,420)

Intermediation margin 50,721,198 43,978,901

Income from sundry bank operations 38,661,271 33,444,747

Expenses on sundry bank operations (1,731,773) (1,465,652)

Other Operating expenses (2,743,059) (2,498,555)

Gross financial margin 84,907,637 73,459,441

Other income 4,309,149 4,216,005

General and administrative expenses (44,277,866) (41,865,354)

Staff expenses (12,420,007) (10,190,119)

Taxes (1,844,202) (1,986,663)

Depreciation on Fixed Assets (6,643,812) (6,205,757)

Operating profit 24,030,899 17,427,553

Provisions for loans and write-back of provisions (3,037,288) (3,799,024)

Exceptional items (8,149,595) (4,213,849)

Profit before tax 12,844,016 9,414,680

Income tax (4,518,052) (4,032,764)

Profit for the year 8,325,964 5,381,916

INCOME STATEMENT FOR T HE Y E A R ENDED 31 DECEMBER 2015 A ND 2014 Expressed in thousands of Congolese Francs - CDF

2 .


74


Change during the year

Balance at 01/01/2015 Increase Decrease Balance

at 31/12/2015

Share capital 70,143,495 4,843,712 - 74,987,207

Legal reserves 3,217,060 538,192 - 3,755,252

Profit for the period 5,381,916 8,325,964 (5,381,916) 8,325,964

Revaluation reserve 8,251,501 - - 8,251,501

86,993,972 13,707,868 (5,381,916) 95,319,924

STATEMENT OF CH A NGE S IN EQUIT Y FOR T HE Y E A R ENDED 31 DECEMBER 2015 A ND 2014 Expressed in thousands of Congolese Francs - CDF

3 .

75



31/12/2015 31/12/2014

Operating activities

Operating income (excluding income from investment portfolio) 95,830,522 88,281,403

Operating expenses (67,184,454) (58,671,823)

Deposits/ withdrawals by banks and Financial institutions 54,487,085 9,669,955

Loans and advances/ Repayment of loans and Advances extended to customers (99,876,971) (48,176,597)

Deposits/ withdrawals by customers 39,986,564 123,079,789

Amounts paid to personnel and sundry creditors (12,420,007) (10,190,119)

Other net cash flow from operating activities 2,319,449 49,775,079

Income tax (4,518,052) (4,032,764)

Net cash flow from operating activities 8,624,136 149,734,923

Investing activities

Acquisitions/ Disposals (10,119,055) (6,301,707)

Net cash flow from investing activities (10,119,055) (6,301,707)

Financing activities

Increase of share capital - 12,327,951

Long term loans 23,552,000 12,427,912

Loan repayment (3,982,969) (4,515,912)

Net cash flow from financing activities 19,569,031 20,239,951

Increase/Decrease in cash and cash equivalents 18,074,112 163,673,167

Opening balance of cash and cash equivalents 491,355,130 327,681,963

Closing balance of cash and cash equivalents 509,429,242 491,355,130

CA SH FLOWS STATEMENT FOR T HE Y E A R ENDED 31 DECEMBER 2015 A ND 2014 Expressed in thousands of Congolese Francs - CDF

4.


76


In compliance with the assignment entrusted to us by your General Meeting, we hereby present our report for the year ended December 31, 2015 on:

• The audit of the annual accounts of RAWBANK S.A., as attached to this report;

• The specific verifications and information required by the law.

The financial statements were approved by the Board of Directors. It is our respon-sibility, based on our audit, to express an opinion on these financial statements.

I . O P INIO N O FT HE F IN A N C I A L S TAT EMEN T S

We have audited the accompanying financial statements, expressed in Congolese Francs, of RAWBANK S.A. at 31 December 2015, which comprise the balance sheet, profit and loss account, statement of changes in equity, cash flow statement for the year then ended; and a summary of significant accounting policies and other explan-atory information.

1. Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Generally Accepted Accounting Principles in the Democratic Republic of Congo and with the requirements of the Central Bank of Congo, implementing

INDEPENDENT ACCOUNTA NT S’ REPORT ON FIN A NCI A L S TAT EMEN T S A S AT 31 DECEMBER 2015

This is a free translation into English language of the statutory auditors’ report issued in the French language and is provided solely for the convenience of English speaking readers. This report should be read in conjunction with, and construed in accordance with, Congolese law and professional auditing standards applicable in the Democratic Republic of Congo.

5.

and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error selecting and appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

2. Auditor’s ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appro-priate to provide a basis for our audit opinion.

3. OpinionIn our opinion, the financial statements present fairly, in all material respects, the financial position of the RAWBANK S.A. as at 31 December 2015 and of its financial performance and its cash flows for the year then ended in accordance with Generally Accepted Accounting Principles in the Democratic Republic of Congo and with the requirements of the Central Bank of Congo.

I I . SP EC IF I C V E R IF I C AT IO N S A ND INFO R M AT IO N

We have also performed the specific verifications required in accordance with Article 713 of the Uniform Act relating to Commercial Companies and Economic Interest grouping.

We have no matters to report regarding the fair presentation and consistency with the financial statements of the infor-mation provided in the management report of the Board of Directors and the documents provided to shareholders on the financial position and financial statements of RAWBANK S.A.

March 24, 2016 PricewaterhouseCoopers DRC

77



The RAWBANK branch network was reorganised into five regions so as to meet the needs of the market as efficiently and responsively as possible, and to optimise the bank’s presence in the 26 provinces that resulted from the recent administrative reorganisation of the country.

• The KINSHASA region, under Sales Manager Vishwanath (Vishy), comprises the city and province of Kinshasa.

• The WEST Region, under Sales Manager Gancho Kipulu-Baya, comprises the following 4 provinces: Kongo-Central, Kwango, Kwilu and Mai-Ndombe.

• The CENTRE Region, under Sales Manager Nicolas Grobelny, comprises the following 10 provinces: Lomani, Kasai Oriental, Lulua, Kasai, Sankuru, Tshuapa, Équateur, Mongala River, Sud-Ubangi, Nord-Ubangi.

• The EAST Region, under Sales Manager Hugues Bosala, comprises the following 7 provinces: Maniema, Sud-Kivu, Nord-Kivu, Tshopo, Ituri, Haut-Uele, Bas-Uele.

• The SOUTH Region, under Sales Manager Olivier Tixier, comprises the following 4 provinces: Haut-Katanga, Lualaba, Haut-Lomani, Tanganyika.

T HE BR A N C H NE T W O R K IN T HE D RC

NORD-UBANGI

SUD-UBANGI

MONGALA

ÉQUATEUR

TSHUAPA

TSHOPO

BAS-UELEHAUT-UELE

ITURI

NORD-KIVU

SUD-KIVU

MANIEMA

SANKURUMAI-NDOMBE

KWILU KASAÏ

LULUA

HAUT-LOMAMI

KASAÏ -ORIENTAL

LOMAMI

TANGANYIKA

LUALABA

HAUT-KATANGA

KWANGO

KONGO-CENTRAL

KINSHASA

Matadi + 3 counters

Moanda + 1 counter

Boma

14 branches + 10 counters

Kimpese+ 2 counters

Kolwezi

Lodja

Kindu

Kisangani

Watsa+ 1 counter

Bunia

Beni

Butembo

Goma

Bukavu

Lusambo

Mbuji Mayi

KakandaFungurume

Lubumbashi 6 branches + 2 counters

Likasi

Kasumbalesa

Sakania

KINSHASA

RAWBANKRegistered O�ce

78


R A W B A N K N E T W O R K S

07

80 Correspondent bank network

80 The Brussels representative office

80 The Shanghai representative office

81 Branch Network in the DRC

C H A P T E R

79


T HE SH A NGH A I REPRE SEN TAT I V E OFFICE

Steps are being taken to open the RAWBANK (SHANGHAI) REPRESENTATIVE OFFICE.

The manager is Yanhong LU 鲁彦宏.

She is a graduate of the Beijing University of Foreign Languages with a B.A. in French and also a graduate of the Institute of Political Studies from Aix in Marseille. Yanhong LU began her career with BYD (a well-known Chinese car manufacturer). She then joined RAWBANK as Corporate Officer for two years, in charge of its Chinese customers. After this, she went to work for Standard Bank DRC as Client Coverage Manager for one year. In October 2015 she returned to China and rejoined RAWBANK as the manager of the RAWBANK (SHANGHAI) REPRESENTATIVE OFFICE.

C ORRE SP ONDEN T B A NK NE T WORK

U S A• Citibank NA, New York• Habib American Bank, New York• Industrial and Commercial Bank of China (ICBC) New York• Société Générale, New York

EU R O P E• Attijariwaffa Bank (Paris)• BNP Paribas Fortis, Brussels• Byblos Bank Europe SA, Brussels• Crédit Suisse, Zurich• Citibank NA, London• Commerzbank AG, Frankfurt am Main• FBN Bank UK Ltd (Paris)• ING Belgium, Brussels• KBC Bank NV, Brussels• Mauritius Commercial Bank• Société Générale, Paris

A F R I C A• Absa Bank Ltd, Johannesburg• Bank of China (Johannesburg)• Diamond Trust Bank (Uganda)• First National Bank (Johannesburg)• The Standard Bank of South Africa Ltd• CHINA• Bank of China, Beijing• ICBC

T HE BRUS SEL S REPRE SEN TAT I V E OFFICE

B A S T IO N T O W ERPlace du Champs de Mars (21st floor) B.1050 Brussels - Belgium

Manager: Christian Rousseau [email protected] Tel: +32 2 550 35 32 Mobile: +32 478 82 29

The office is open Monday to Friday between 9 am and 5 pm and on Saturday between 9 am and 12 pm.


80



R EG I S T ER ED O F F I C E

3487, Bld du 30 Juin (Gombe) KINSHASA +243 81 98 32 000 +243 98 01 00 01

BR A NCH NE T WORK IN T HE DRC

K IN SH A S A R EG IO NRegional Sales Manager: VISHWANATH (VISHY)

30 Juin: 3487, Bld du 30 Juin C/GOMBE Loïc DESCAMPS +243 82 137 98 19 [email protected]

• CEEC counter: 3989, Av. de Cliniques C/GOMBE +243 81 20 32 109

• Hasson et Frères counter: 2, Av. Citronniers C/GOMBE (derrière Sozacom)

• ISC (Institut Supérieur de Commerce) counter: ISC campus

• GUCE (Guichet Unique Création d’Entreprises) counter: 482, Av. de la science

• Food Market counter: 160, Av. Tshuapa

• KIN-NDOLO counter: Ndolo National Airport +243 89 92 89 599

Couronne: 21, Av. Bandundu C/GOMBE Fuata MAKUNTIMA +243 81 71 51 036 [email protected]

• Minaffet counter: 1, Place de l’Indépendance C/GOMBE +243 99 87 87 861

• Fleuve Hotel counter: 119, Colonel Tshatshi (Ex. Imm. CCIC) C/GOMBE +243 81 710 17 49

Town Hall: 9, Av. du Marché C/GOMBE Serge DJAMANY LOBANDO +243 97 00 34 453 [email protected]

Kinsuka: 1, Av. de l’école, C/NGALIEMA Manguy MAYAKA +243 99 20 01 686 [email protected]

Kintambo: 121, Av. Jean Bolemba Q/Babylone C/KINTAMBO Mamie-Florence LEMBA +243 825652487 [email protected]

Limete: 7e Rue, Bld Lumumba Andy TSHIBWABWA +243 81 88 70 017 [email protected]

Matete: 10749, Q/Tomba, Localité Sumbuka, District Mont-Amba, C/MATETE Belinda KANKU +243 829 779 255 [email protected]

N’Djili: 28, Av. Mazi / Bld Lumumba Kinshasa C/NJILI Tanya BILE +243 817109734 [email protected]

• KIN-AERO counter: Aéroport International de N’Djili C/MASINA +243 81 33 99 116

Ngaba: 2, Av. de la Foire C/LEMBA Sabrina KIBETI +243 81 98 32 001 [email protected]

• Unikin counter (University of Kinshasa): Unikin campus

• ISTM counter (Institut Supérieur des Techniques Médicales): ISTM campus

St Luc: 14, Av. Nguma, Réf Eglise St Luc C/Ngaliema Samuel KABANGALA +243 81 88 70 015 [email protected]

• Monishop counter: 14, Av. Kasa Vubu C/KINTAMBO +243 97 10 111 72

UPC: Intersection of Avenues de la Libération and Victoire C/LINGWALA Luzolo JACKSON +243 99 80 15 924 [email protected]

• Kimbanguiste counter: Intersection of Avenues Saio-Forces publiques

UPN: 999, Av. L.D. Kabila (ex route de Matadi) C/NGALIMA Jean Luc MOERENHOUT +243 81 71 59 008 [email protected]

Utex: 374, Av. Colonel Mundjiba C/NGALIEMA Bernie MANGWELE +243 99 99 49 430 [email protected]

• Shoprite counter: 11628, Av. Oua C/KINTAMBO +243 81 51 51 397

Victoire: 1, Av. Eyala Kinshasa C/KASAVUBU Gisele NOMATUNGULULA +243 81 71 09 461 [email protected]

W E S T R EG IO N

Regional Sales Manager: Gancho KIPULU-BAYA

Matadi 13, Av. Major Vangu Florent MATUSU ZAU +243 81 29 47 387 [email protected]

• Port SCPT counter (ex Onatra)• Port Aidel Ticom counter• Inga counter• Kinkanda counter

Boma 34, Av. Mankuntima Q/Coditra, C/NZADI (Centre-ville) Henri KILANDI +243 99 20 01 616 [email protected]

• Port SCPT counter (ex Onatra)

Moanda 4, Av. du 30 Juin Patricia BENGI MASENGA +243 99 80 15 920 [email protected]

• Yema counter (border): Border DRC / Angola















Kimpese 2, Av. Songololo, Q/Masamuna 2Bis Baby LOANGO KAMPUNZU +243 97 33 77 778 [email protected]

• Lufu counter (border): Border DRC / Angola (locaux DGM) + 243 82 85 01 972

• Kwilu Ngongo counter: Sucrière Kwilu-Ngongo

C E N T R E R EG IO N

Regional Sales Manager: Nicolas GROBELNY

Mbuji-Mayi: 42, Bld LDK MBUJIMAYI/DIULU Ajeesh CYRIAC +243 81 70 84 602 [email protected]

Lodja: 4, Bld de la Révolution, Centre Commercial Papy YUMA IDI +243 82 55 65 765 [email protected]

Lusambo: 1227, Intersection of Avenue du Sankuru and Av. de la Révolution Etienne KIMBULU +243 82 85 01 992 [email protected]

E A S T R EG IO N

Regional Sales Manager: Hugues BOSALA

Goma: 23/09, Av.-Boulevard Kanyamuhanga Joseph HERI +243 99 861 13 24 [email protected]

Beni: 8506, Q/Resid. C/BUNGULU Faustin LUZOLO +243 82 48 53 925 [email protected]

Bukavu: 105, Av. Patrice Emery Lumumba Rodrigues BIGIRINAMA +243 99 92 29 856 [email protected]

Bunia: 5, Av. Ituri, Q/Lumumba Vicky KAMBALE +243 99 29 00 571 [email protected]

Butembo: 9472, Av. Président de la République,Q/Kambali C/VULUMBA Anselme NGOHE +243 97 10 11 169 [email protected]

Kindu: Av. du 4 Janvier C/KASUKU Aimé Ilunga Kafutwa +243 97 00 34 457 [email protected]

Kisangani: 11, Av. Victime de la Rébellion Constant TSHIBASU +243 81 31 88 837 [email protected]

• UNIKIS counter: Université de Kisangani

Watsa: Quartier résidentiel Cité de Watsa, District de Haut-Uélé Bruce KATINDI +243 97 10 11 150 [email protected]

• DOKO counter: Quartier Lebere, Cité de Durba

S O U T H R EG IO N

Regional Sales Manager: Olivier TIXIER

Lubumbashi Branches

Lubumbashi: 91, Av. Sendwe Gabriel MALOBA +243 99 52 39 101 [email protected]

• Consulat counter: 84, Av. Sendwe C/LUMBUMBASHI +243 99 10 01 945

• Luano counter: LUANO Airport C/LUMBUMBASHI +243 97 00 11 838

Bel-Air: 1669, ch. de Kasenga, C/KAPEMBA Blanchard MATUVANGA MAYALA +243 99 10 04 187 [email protected]

DGI: 12, Av. Sendwe Marie-Hélène ILUNGA +243 99 10 04 186 [email protected]

Golf: 1, Av. des Roches Joelle KABAYO +243 99 52 58 330 [email protected]

Kisanga: 598, route de Kasumbalesa Q/Kisanga C/Annexe intersection Kasumbalesa and Kipushi Mireille MONGA NGOIE +243 99 10 04 188 [email protected]

UNILU: Ground floor, Home 10, Cité universitaire, Route Kassapa Jean-Hubert TSHIBAMBE ILUNGA +243 99 10 04 185 [email protected]

Other towns

Fungurume: Concession Tenke Fungurume Rica MUHIMA SADIKI +243 99 10 04 184 [email protected]

Kakanda: Av. des Usines, Q/Nsele, Cité Kakanda Henry MANGITUKA +243 99 80 15 903 [email protected]

Kasumbalesa: Site Guichet Unique DGDA Jacques NGUDIA MUYYA +243 99 100 41 81 [email protected]

Kolwezi: 58, Av. Kamba Irène KANIKI +243 99 52 39 100 [email protected]

• UAC counter: 862, Av. Laurent Désiré Kabila, Kolwezi

Likasi: 27, Av. Lumumba Marcel MWANJI KANDE +243 81 71 59002 [email protected]

Sakania: 45 route Kishiba SAKANIA-RDC Eric CILUMBA NGELEKA +243 97 60 00 206 [email protected]

RAWBANK NETWORKS RAWBANK






















The Rawji Group is awaiting authorisation from ARCA (the Insurance Companies Regulatory Authority) to launch its new range of insurance policies in the DRC. Without prejudice, this authorisation could be given before the end of 2016.

OV E R V IE W

Two different types of product will be marketed under the single “RAWSUR” brand, which will be developed in accordance with the current Insurance Code of the DRC:

• Life insurance

• Non-life insurance

Two companies will be incorporated, each with a capital of CDF 10 billion (equivalent to +/- USD 11 million), as required by the Insurance Code.

S A L E S O RG A NI S AT IO N

RAWSUR will have a team of specialist product and sector advisors, able to offer insurance solutions tailored to the needs of individuals, the self-employed and professionals, SMEs and major corporations.

There will be a number of distribution channels, including the RAWBANK branch network, providing a wide range of BANCASSURANCE products.

T HE T EC HNI C A L D E PA R T ME N T

The role of the technical department, consisting of experts in statistics and actuarial calculations, is to assess, price and manage customer risks. It controls the risks incurred by RAWSUR through a selective approach on an industrial scale. It is the guarantor of the technical result.

C L A IM S M A N AG E ME N T

To ensure that insurance claims are managed efficiently and fairly at all times, the claims department will be organised so that it can support customers experiencing difficulties by providing them with the information they require and assistance in line with their needs while their claim is being processed.

R E IN S U R A N C E

First-class contracts have been negotiated with rein-surance companies of international renown to ensure RAWSUR customers receive the best possible service in the management of their claims.

T HR E E K E Y VA LU E S A ND O NE C O MMI T ME N T

RAWSUR is committed to three key values that it wishes to convey throughout the organisation and to its customers: trust, integrity and solidarity.

P O S T S C R I P T:

T HE R AWJI GROUPE S TA BL ISHE S

“We are firmly committed to making a contribution to the economic development of the DRC by supporting you at every stage of your life and the life of your business.”

83


RAWBANK SA 3487, Boulevard du 30 juin – PO Box 2499 – Kinshasa 1 – DR CongoCD/KIN/RCCM/14-B-2385 – NAT. ID No: 01-610-N39036T – Tax number: A 0700225D – CBC No: 5100

Tel: +243 99 83 20 000 – Fax: +33 4 89 24 02 24 – SWIFT: RAWBCDKI – [email protected]

W W W.R AW B A NK .C D

Matadi + 3 counters

Moanda + 1 counter

Boma

14 branches + 10 counters

Kimpese+ 2 counters

Kolwezi

Lodja

Kindu

Kisangani

Watsa+ 1 counter

Bunia

Beni

Butembo

Goma

Bukavu

Lusambo

Mbuji Mayi

KakandaFungurume

Lubumbashi 6 branches + 2 counters

Likasi

Kasumbalesa

Sakania

KINSHASA

RAWBANKRegistered O�ce


www.rawbank.cd

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