The consolidated profit of the company Oragroup SA, parent company of the Orabank banking group, plunged by 8.887 billion FCFA (13.330 million euros) at the end of the 2020 financial year compared to that of 2019, announced the managers of this company based in Lomé.
This profit thus fell from 18.327 billion FCFA in 2019 to only 9.440 billion FCFA in 2020, a decrease of 49%.
As for the balance sheet total, it increased by 24%, reaching over 3,268 billion FCFA against over 2,634 billion FCFA in 2019.
Regarding Oragroup’s debts to customers, they amounted to 2124 billion FCFA against 1,823 billion FCFA in 2019 (17%). As for loans and receivables from this clientele, they were recorded at 1,585 billion against 1,366 billion in 2019 (+ 16%).
As of December 31, 2020, Oragroup’s net banking income increased 5.81% to 155.395 billion against 146.852 billion in 2019.
The company’s personnel costs amounted to CFAF 46.341 billion against 42.583 billion in 2019, an increase of 9%.
The company cut its other general operating expenses by $ 1 billion, with an achievement increasing from $ 46 billion in 2019 to $ 45 billion in 2020.
For its part, gross operating income increased from CFAF 8 billion to CFAF 55 billion against CFAF 47 billion at the end of the 2019 financial year.
On the other hand, the cost of risk to society appeared to increase from 17 billion FCFA to 40 billion against 23 billion at the end of the 2019 financial year.
As regards the operating profit, it fell from 9 billion to 15 billion FCFA against 24 billion FCFA a year earlier.
