KCB Group blames the shutdown of its 15 branches in the conflict-ridden eastern Democratic Republic of Congo (DRC) for a drop in income from the lucrative Congolese market.

 

The listed regional lender explained it shuttered the banks to safeguard the safety and well-being of its staff and customers in a move that ended up impacting its revenues for the year ended December 31, 2025.

In its latest annual report (2025), KCB says that as a result of the disruptions borne out of the conflict in the mineral-rich Central African nation, its operations in DRC returned an eight percent drop in total income to Ksh28.7 billion ($222.48 million) in 2025, and a 16 percent drop in net profit for the year to Ksh8.8 billion ($68.21 million).“Over the past 15 to 18 months, escalating security tensions, particularly in the eastern regions, led to a temporary closure of around 15 of our branches in the conflict-affected areas,” the lender says.“However, our subsidiary in DRC, Trust Merchant Bank, remains resilient and continues to support customers in the region by leveraging its strong digital capabilities. As a result of the disruptions borne out of the conflict, the Bank’s total income reduced by 8 percent to Ksh28.7 billion ($222.48 million) in 2025. This led to a 16 percent drop in net profit for the year to Ksh8.8 billion ($68.21 million.”Audited financial results shows that KCB’s operations in DRC reported a 16 percent decline in net profit to Ksh8.75 billion ($67.82 million) in 2025 from Ksh10.43 billion ($80.85 million) in 2024, while total income declined by 8.04 percent to Ksh28.66 billion ($222.17 million) from Ksh31.16 billion ($241.55 million) in the same period.

The subsidiary’s total assets increased by 10.84 percent to Ksh298.92 billion ($2.31 billion) from Ksh269.68 billion ($2.09 billion) and contributed 14.1 percent of KCB Group’s total revenues.

KCB Group CEO Paul Russo told The EastAfrican that all bank branches are closed in eastern DRC but the operationalisation of Goma airport is critical to resumption of banking services.“We have 15 branches in eastern DRC. All bank branches are closed in eastern DRC. The situation in eastern DRC saw banks shut branches, to safeguard the safety and well-being of staff and customers. Staff continue to support other bank activities and remain valuable to the network across the country,” Mr Russo said in an e-mailed response.“We continue to monitor the developments there and are optimistic that lasting peace and stability will be found. The operationalisation of Goma airport is critical to resumption of banking services. The regulator and other relevant agencies shall guide in due course as we remain hopeful to a return to normalcy.”

Early last year, fighting between Congolese security forces and militant groups led by M23 escalated, culminating in M23’s capture of Goma, the regional hub of the North Kivu province, which borders Rwanda.

KCB has 106 branches in DRC, of which 15 are in the east, with 1,789 staff in 2025.

KCB Group has operations in Kenya, Uganda, Tanzania, Rwanda, Burundi, South Sudan, DRC and a representative office in Ethiopia.

Kenyan banks first entered the Congolese market in 2016, when Equity Group acquired 86.6 percent stake in a German bank, Procredit, and renamed the subsidiary Equity Bank Congo (EBC) SA. Equity then acquired a 66.53 percent in another Congolese lender, Banque Commerciale Du Congo (BCDC), Kinshasa’s second largest lender by assets in August 2022, and merged the two subsidiaries to form Equity BCDC.

KCB Group entered the market through the acquisition of 85 percent stake in the Trust Merchant Bank (TMB) in December 2022.

The scramble for the DRC market by the region’s big banks deepened after Kinshasa joined the East African Community in 2022.

Tanzania’s largest retail bank by assets, CRDB, also set up a subsidiary in the large commercial city of Lubumbashi in southeast DRC in 2023.

DRC’s economic growth is estimated to have declined to 5.7 percent in 2025 from 6.7 percent in 2024, largely due to the conflict in the eastern part of the country as well as a four-month cobalt export suspension in February 2025 that caused temporary logistical challenges, but strong mining output and investment continued to drive the economy.

The International Monetary Fund (IMF) and the DRC authorities are implementing a 38-month arrangement approved on January 15, 2025, comprising a $ 1.73 billion Extended Credit Facility (ECF) and a $ 1.04 billion Resilience and Sustainability Facility (RSF).

The programme aims to ensure macroeconomic stability, strengthen governance, and support climate resilience, with recent reviews in December 2025 releasing over $442 million.

The IMF completed the second review of the ECF and first review of the RSF in December 2025, acknowledging resilient economic growth, which is projected to exceed five percent in 2025-2026.

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