Saturday , November 28 2020

Bank of Africa Senegal makes a net profit of CFAF 3.802 billion as of June 30, 2018



According to them, Bank Of Africa Senegal continues its strategic development, maintaining its position in the Senegalese market. Total outstanding loans increased 2.5%, driven by interbank lending. In contrast to jobs, the total fund balance is below 100 basis points. However, Bank Of Senegal maintains its market shares with 6.2% for jobs and 8.1% for resources.

Net banking income (GNP) decreased 2% due to the contraction of credit. Structure costs (personnel expenses, direct operating expenses and net depreciation) increased by 40.8% in the first half of 2018 with the development of the banking network (17 branches between 2017 and 2018).

Gross operating profit contracted by 27.1%. However, the bank still maintains its profitability with a 23.4% increase in net income.

With this level of profit, the net margin, which is the ratio of net profit to net profit, improves by 6.6%, standing at 31.9% at the end of June 2018, against 25.8% . a year earlier. In other words, with the cost of risk in value posting a clear improvement, as a result of the bank's recovery efforts, Bank of Africa Senegal manages to retain 31.9% of GDP.

Adou Faye Lejecos


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