During 2022, BOA-MADAGASCAR’s financial realisations improved overall compared to previous year, as shown by its key performance indicators.

Within a year, BOA-MADAGASCAR was thus able to increase its deposits by 7.6% to MGA 3,080.2 billion at 31 December 2022, consolidating the Bank’s position in terms of resources.

The increase in loans was even more sustained with the net outstanding amount reaching MGA 2,419.3 billion at 31 December 2022, up 19.5% year on year.

Additionally, the Bank’s cost of risk is also fully under control with the rate of impaired loans at 7.2% compared with 7.1% in 2021, and an overall cost of risk contained at 1.1%.

The Bank’s balance sheet recorded an annual increase of +12.9%, reaching a volume of MGA 4,070.9 billion at 31 December 2019.

These performances have allowed Bank to achieve high levels of income in 2022 with:

• The net banking margin rising 10.2% to MGA 190.5 billion due to the +11.8% increase, in revenue from
  loans
• Net operating income at MGA 326.7 billion, up +13.7% year on year.

Accompanied by operational rigour, the operation ratio was thus set at 48.6% in 2022, despite the significant costs associated with inflation and the increase in activities.