Target SARL has carried out a study on the retail supply of credits of commercial banks operating in the Democratic Republic of Congo to highlight the different types of credits offered in this sector.
From what follows, we observe that since June 03, 2019, the BCC instruction number 38 on the setting of the overall effective rate "TEG" is in force in the DRC and requires credit institutions and microfinance institutions of the Congolese banking system to mention it in all communications binding them to the customers.
Since the same date, BCC Instruction No. 40 requires public posting and updating quarterly and immediately after any change in agencies, counters, and websites (Article 3 of the Instruction).
In this context, this document presents all the information that can be officially collected on the Congolese banking market regarding consumer credit from commercial banks with a significant credit offer (Top 8). Target gathered information from different sources, in branches, at counters, on websites, and from any other available source about rates and conditions applicable to loans.
Target's study details the types of credit by the bank and the rates. There are products common to all banks but with different names/titles. Education Credit (19%), Payday Advance (19%), and Express Loans are the most offered retail loans compared to 10% for equipment loans, 8% for school kit loans, and 8% for real estate loans.
The comprehensive study is available upon request (info@target-sarl.cd)
Friday, October 14, 2022 - 15:12