Merger between Equity Bank and BCDC: the Head of State informed

Received in audience Tuesday, December 1, 2020 at the Palais de la Nation, by the President of the Republic Félix Antoine Tshisekedi, Mr. James Mwange, Managing Director of Equity Bank, went to inform of the merger of his Bank with the Commercial Bank of Congo (BCDC), which will become effective by the end of the current year.

It was after being received by the Head of State that the Managing Director of Equity Bank, Mr. James Mwange, declared to the press that “the general meetings of the two banks have already approved this merger which will become effective from ‘by the end of the year’.

BCDC will migrate to the Equity Bank platform to form a new bank. This, Equity-BCDC, will have a total capital of two hundred million USD and total assets of two billion five hundred million USD, with a lending capacity of up to fifty million USD.

Reaching one million bank accounts, according to the CEO of Equity Bank, is projected over the next three to five years, with the need to grow from one thousand, currently, to two thousand jobs.

He then bid, saying: “In the period of its progression, the bank will be able to finance agricultural projects and support small and medium enterprises, which will then facilitate cross-border trade in East and Central Africa.”

Gisèle Mbuyi / Digitalcongo

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