Trust Merchant Bank

Trust Merchant Bank or TMB, is a commercial bank based in the Democratic Republic of Congo (DRC), with its headquarters located in Lubumbashi. The bank began operations in 2004. TMB operates in all sectors of the local banking market, including in retail banking, SME banking, corporate banking, and mobile banking.

Trust Merchant Bank (TMB)
TypePrivate
IndustryBanking
Founded2004
Headquarters1223 Avenue Lumumba, Lubumbashi, Democratic Republic of Congo
ProductsLoans, Checking, Savings, Debit Cards, Credit Cards, Mobile Banking, Leasing, Online Banking, Trade Finance, Remote Salary Payments
RevenueUS$86 million (2019)
US$14 million (2019)
Total assetsUS$1 billion (2019)
Number of employees
1,350+
Websitewww.tmb.cd

The bank is regulated by the Central Bank of Congo and is a member of the Association Congolaise des Banques.

Overview

Trust Merchant Bank is one of the DRC's largest banks as measured by regulatory equity, total assets and turnover. As of 31 December 2019, total assets were in excess of US$1bn, equivalent to approximately 12% of total bank assets in the DRC, with shareholders' equity of US$96mn. TMB is a member of the SWIFT interbank network (TRMSCD3L) and is also a principal member of MasterCard, and Visa.

Bank Characteristics

Trust Merchant Bank has several unique characteristics:

  • TMB was the first Congolese financial institution to launch a proprietary mobile banking service.[1][2][3]
  • TMB is the only bank to offer a nationwide branch network.[4]
  • It is the only bank headquartered in a city other than the national capital, Kinshasa.
  • The Bank was the first Congolese bank to secure a licence to open a Representative Office in Brussels.

Branch Network

Trust Merchant Bank operates over one hundred and five branches across twenty one provinces of the Democratic Republic of Congo:

The Bank maintains a representative office in Brussels.[5]

TMB is the only bank in the DRC to operate bank branches onsite at a number of MONUSCO sites across the country, including in Kisangani and Bunia.

Awards

The African Banker named TMB as the Best Bank in Central Africa in 2014 and again in 2017. TMB was named as Bank of the Year Democratic Republic of Congo in 2012, 2013, 2014, 2015, 2017, 2018 and 2019 by The Banker. EMEA Finance awarded TMB the title Best Bank in the Democratic Republic of Congo for the ninth consecutive year in 2019.[6]

In 2014, 2015, 2016 and 2020 Global Finance Magazine recognised TMB as the Best Bank in the Democratic Republic of Congo.

Le Monde des Flamboyants

TMB's regional headquarters in Kinshasa plays host to Le Monde des Flamboyants, a multi-purpose exhibition gallery.

Acquisition by KCB Group

In August 2022, KCB Group, based in Nairobi, Kenya agreed to acquire 85 percent shareholding in Trust Merchant Bank at "1.49 times the book value".. It is estimated that that would cost approximately KSh15 billion/= (US$127 million then). KCB also agreed to acquire the remaining 15 percent ownership in the bank, not later than 2024. The deal requires shareholder and regulatory approvals in DRCongo and Kenya.[7]

References
  1. "Vidéo – Mobile banking en RD Congo : les banques tentent de se faire un réseau – JeuneAfrique.com". JeuneAfrique.com (in French). 6 December 2016. Retrieved 16 August 2017.
  2. "Cash in a canoe". The Economist. Retrieved 16 August 2017.
  3. emeafinance.com Archived 18 January 2017 at the Wayback Machine
  4. "RD Congo : Trust Merchant Bank ou l'histoire d'un pionnier – JeuneAfrique.com". JeuneAfrique.com (in French). 28 May 2013. Retrieved 16 August 2017.
  5. "Bureaux de représentation | nbb.be". nbb.be (in French). Retrieved 16 August 2017.
  6. "Mobile Banking : L'innovation bancaire de la TMB au Congo récompensé à Londres | Wazatech". Wazatech (in French). 19 December 2015. Retrieved 16 August 2017.
  7. Otiato Guguyu (3 August 2022). "KCB targets Equity with Sh15bn DRC bank acquisition". Business Daily Africa. Nairobi, Kenya. Retrieved 3 August 2022.
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