Last year concluded with phenomenal growth for Stanbic Bank Congo. The bank registered a profit increase of more than 140%, assets rising to 12% and a Tier 1 capital stronger by 152%. Its shareholders might be even more pleased than the management about Stanbic’s performance after it secured a 47% RoE.
Stanbic has also accomplished another significant achievement: registering no NPLs for the past four years in a particularly risky environment.
“The entire team of Stanbic Bank Congo is honoured and proud to receive this award,” says managing director Louis Nallet. “This is the result of intense efforts to introduce and keep financial international standards and ethics in a market that still requires improvements in that matter. 2007 has been a good year for our bank with a 40% increase in our revenues, in a year of economic transition after successful first-time free elections since independence.
“Stanbic Bank Congo has ambitious organic development plans in the Democratic Republic of the Congo with the opening of our first in-country branch in Lubumbashi, scheduled in January 2008, which should be followed by several other branches in the main economic centres. Our team will continuously endeavour to deserve that award, now and in years to come.”
