Despite a national economic situation marked by persistent insecurity in some parts of the country and inflationary pressures caused by the war in Ukraine, BANK OF AFRICA – NIGER closed its 2022 financial year with encouraging achievements.

Customer resources increased by 5% to CFA F 245.6 billion, while customer loans fell by 6.8% to CFAF 192.8 billion, following the repayment of sovereign commitments. The total balance sheet was CFAF 357.5 billion, up slightly by 0.3% on 2021.

The banking margin increased by 4.8%, but net banking income fell by 1.5% to CFAF 24.6 billion, due to the 37% drop in exchange commissions.

General operating expenses were kept under control and stabilised at CFAF 12 billion, compared to CFAF 11.9 billion in 2021, bringing the operating ratio to 48.7%.

Supported by the fall in the cost of risk, the net result rose by 7.8% to CFAF 10.1 billion, enabling an improvement in profitability ratios.

Solvency improved to 17.8% from 16.6% in 2021 due to the increase in equity capital.

These good results are the result of the mobilisation of all teams with constant support from the Board of Directors.