2020 Financial Report

The evolution recorded in 2020 in the main components of the Bank’s activity shows growth, explained by the Bank’s continued support for the country’s economic activity of the country.

Indeed, the Bank has supported its private, professional and corporate clients in their development projects in all sectors of the economy, despite the current health crisis.

Thus, BANK OF AFRICA – MADAGASCAR (BOAMADAGASCAR) was able to increase its deposits by +11.8% in one year to reach 2,664.8 billion
Ariary at the end of December 2020, which has enabled it to consolidate its position in terms of deposits.

On the credit side, the evolution was even more sustained since the net outstanding amount reached 1 647.5 billion
Ariary at the end of December 2020, i.e. an annual progression of +15.0%.

In addition, the Bank’s risk level is under control, with a rate of compromised loans 7.4% in 2020, and an overall cost of risk contained at 1.2%, despite the impact of the health crisis on its portfolio.
on its portfolio.

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