Equity Bank Congo (EBC) and Banque Commerciale du Congo (BCDC) have now merged to become the second-largest commercial bank in the Democratic Republic of Congo.
According to reports from the development, the merged entity, Equity BCDC, has a balance sheet in excess of USD 2.5 billion and a nationwide footprint of 74 branches, 214 ATMs, 13 local dedicated desks, 3055 agents, and a customer base of nearly one million.
The merger has also seen Equity Group combine BCDC’s heritage of 112 years in the DRC market, with its established track record in corporate banking, as well as EBC’s solidly strong focus on retail and SME banking.
In recognition of the unique legacy and heritage of the two respective entities, the new bank now carries the name Equity Commercial Bank of Congo (Equity BCDC).
With its size, footprint, and resources, Equity BCDC has distinctive capacity and unique capability to significantly contribute to the development of positive transformation in the lives of the people of the Democratic Republic of Congo.
Equity BCDC is a subsidiary of Equity Group Holdings Plc. It gives DRC’s 800,000 clients access to a deep and wide franchise of banking expertise, channels, and products, thus making it the largest financial services network in the country.
The merger will also see the development of the country’s first fully digital bank. Clients will benefit from features such as card payment (both credit and debit), mobile banking applications, real-time internet banking and the full integration of bank accounts with the leading mobile wallets available in DRC and abroad.
“The new identity reflects the prosperous future we envision for the DRC and its people. One which communicates our global capability, strong heritage, innovative culture, and agile business model in order to serve as a vehicle for social and economic transformation for the people of DRC,” says Equity Group Holdings Plc CEO, Dr. James Mwangi.