The net result of Bank Of Africa (BOA) Mali, a subsidiary of the banking group of the same name, fell by 17.35% at the end of the first quarter of 2019 compared to the first quarter of 2018, announced the leaders of this banking institution based in Bamako.
This result stood at 1.572 billion CFA francs on March 30, 2019 against CFAF 1.902 billion a year earlier, a drop of CFAF 330 million. The leaders of BOA Mali attribute this underperformance to the “context of contraction of the intermediation margin driven by the intensification of competition on the market. ”
Regarding the net banking income of the bank, it fell slightly by 3.88% to 6.893 billion FCFA against 7.171 billion FCFA in the first quarter of 2018.
Profit before tax also dropped by 17%, with an increase from CFAF 2 billion at March 31, 2018 to CFAF 1.660 billion at March 31, 2019.
