BANQUE INTERNATIONALE POUR L'AFRIQUE AU CONGO (BIAC)

Banque Internationale pour l'Afrique au Congo (BIAC) is a commercial bank based in Kinshasa, in the Democratic Republic of Congo. It also has offices in Lubumbashi, Matadi, Goma, Butembo, Bukavu and soon in Mbuji-Mayi. Founded in 1970, BIAC is one of the country's historic banks. It currently has a network of 150 branches, 52 of which are full-service, in 16 towns across the country, making it the bank with the densest territorial coverage in Congo. BIAC is the country's fourth-largest retail bank in terms of deposits, and third-largest in terms of loans and total assets. It is also a major partner of Western Union, controlling 67% of the inbound market share. BIAC has recently experienced financial difficulties, but a new management team has been appointed to accelerate its restructuring.