2022 Financial Report

In an economic context marked by the abatement of the Covid-19 pandemic and the outbreak of the war in Ukraine, the balance sheet total rose by 2.6%, from CFAF 884,426 million to CFAF 907,782 million.

Net customer loans outstanding fell by 2.1% over the year. This decrease is mainly attributable to corporate customers.

Customer deposits reached CFAF 648,844 million, with a slight increase of 0.5% over the annual period.

Off-balance sheet commitments stood at CFAF 109,244 million at the end of 2022, down 7.3% over the year.

Customer deposits decreased by 1%, from CFAF 52,310 million at end 2021 to CFAF 51,853 million at end 2022.

The cost of resources remained under control, despite a 3% drop from CFAF 19,619 million at end 2021 to CFAF 18,934 million at end 2022.

Net commissions were up by 8.6% year-on-year. Net banking income therefore rose by 2.5% over the year.

Due to significant non-recurring expenses, overheads increased by 7.4% while depreciation and amortisation decreased by 4.8%.

This situation had a negative impact on the cost/income ratio which went from 56.3% in 2021 to 57.9% in 2022.

Net income was CFAF 19,143 million, up 15% despite a sharp increase in income tax.

Return on equity is 19% compared to 17.8% in 2021, while return on assets is 2.1% compared to 1.9% a year earlier.

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