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2020 Financial Report

At the end of 2020, BOA – IVORY COAST has 41 branches and 469 employees. Total customer deposits rose 18.4% to 455,759 million CFA francs.

Customer receivables decreased by 6.2% over the year to CFA francs 300,781 million. The balance sheet total increased by 12.8% to 686,536 million CFA francs. With a pre-allocation capital of 60,329 million CFA francs, the Bank has a solvency ratio of 10.9% for a regulatory minimum of 9.5%.

Net Banking Income amounted to 40,811 million CFA francs, an increase of 15.4% compared to 2019, with a better contribution from the net banking margin which increased by 23.6%. Operating expenses, including depreciation, are up 6.7% compared to 2019.

The cost/income ratio improved to 51.0% from 55.2% in 2019. This resulted in a Gross Operating Result of 19,977 million CFA francs, a notable increase of 26.0% compared to 2019.

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