The after-tax profit of Bank Of Africa (BOA) Burkina Faso, a subsidiary of the Moroccan banking group BMCE Bank, decreased by 903.448 million FCFA (1.355 million euros) at the end of fiscal year 2020 compared to previous year, announced the leaders of this banking establishment based in Ouagadougou.
This profit stood at 17.607 billion FCFA against 18.511 billion FCFA, a decline of 4.88%.
For its part, the bank’s total balance sheet increased by 13.94% to 988.180 billion FCFA against 867.213 billion FCFA in 2019.
The resources collected by the bank from its customers amounted to CFAF 761.160 billion against CFAF 624.663 billion in 2019, i.e. an increase of CFAF 136.497 billion. As for the loans granted to this same clientele, they increased by 26.551 billion, standing at 554.270 billion FCFA against 527.719 billion FCFA in 2019.
The interests and similar products of the bank increased from 48.895 billion FCFA as of December 31, 2019 to 53.391 billion FCFA as of December 31, 2020 (+ 9.19%). For their part, interest and similar charges saw their level increase by 3.27% to 23.103 billion FCFA against 22.371 billion FCFA in 2019.
During the period under review, the commissions received by the bank on products increased by 5.147 billion FCFA between 2019 and 2020, standing respectively at 8.433 billion FCFA and 13.580 billion FCFA. Conversely, the commissions disbursed by BOA Burkina on its expenses increased by 144.266 million FCFA with an achievement of 398.791 million against 254.525 million in 2019.
BOA Burkina Faso’s net banking income increased by 10.85%, from 42.707 billion FCFA as of December 31, 2019 to 47.367 billion FCFA during the period under review.
Regarding the general operating expenses of the bank, they increased from 2.915 billion FCFA to 20.185 billion FCFA against 17.270 billion FCFA in 2019.
As for the gross operating income (GOR), it increased by 7.33%, from 23.410 billion FCFA as of December 31, 2019 to 25.127 billion FCFA a year later.
The bank’s cost of risk increased sharply by 3.192 billion FCFA during the period under review, reaching a level of 5.275 billion FCFA against 2.063 billion FCFA a year earlier.
As for operating income, it fell by 6.91%, standing at 19.852 billion FCFA against 21.327 billion FCFA as of December 31, 2019.
