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2019 Financial Report

The 2019 financial year of BANK OF AFRICA – BURKINA FASO (BOA-BURKINA FASO) was marked by a favorable evolution of its main indicators, both in terms of activity, structure and result.

Customer resources rose by 9.8% to CFAF 624,663 million in one year.

Direct loans grew by 2.8% to CFAF 527,720 million over the year.

The network has 52 branches and the number of employees (internal banking) remained stable at 499 agents at the end of December 2019.

The balance sheet structure was strengthened, with total assets up 9.7% to CFAF 867,213 million.

Net Banking Income (NBI) rose by 7.8% to CFAF 42,728 million. Net margin accounted for 62.2%, commissions and other income for 35.7% and income from financial operations for 2%.

General operating expenses rose by 2.8% compared with last year’s figures, with a favorable variance of 5.9% on target.

Net income, after tax expenses, stood at CFAF 18,511 million at December 31, 2019, representing an annual increase of 7.0%.

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