Banks: 23.3% increase in BOA Côte d’Ivoire’s net income in the third quarter of 2020

The net income of Bank Of Africa (BOA) Côte d’Ivoire, a subsidiary of the banking group of the same name, increased by 23.3% at the end of the third quarter of 2020 compared to the same period of 2019, announced the leaders of this banking establishment based in Abidjan.

This net result thus stood at 11.781 billion FCFA as of September 30, 2020 against 9.556 billion FCFA as of September 30, 2019, an increase of 2.225 billion FCFA.

During the period under review, the resources collected by the bank shrank by 7.535 billion FCFA, with an output which fell from 424.191 billion FCFA as of September 30, 2019 to 416.659 billion FCFA a year later.

As for the net support granted by the bank to its customers, they fell by 8.660 billion FCFA, standing at 289.803 billion FCFA against 298.463 billion FCFA in the third quarter of 2019.

For its part, the net banking income (GNP) of the BOA Côte d’Ivoire recorded an increase of 17.9% to 30.700 billion FCFA against 26.040 billion FCFA at the end of the third quarter of 2019. According to the leaders of this banking institution this development is supported by « the growth of the net banking margin on customers of around 30.1%, commissions having stagnated compared to September 2019 ».

For its part, the pre-tax result has increased by 23.4% to 12.349 billion FCFA against 10.006 billion FCFA as of September 30, 2019.

In outlook for the fourth quarter of 2020, BOA Côte d’Ivoire officials state that “barring the occurrence of a major unfavorable event, the results for the coming periods should be in line with promising prospects in terms of loans and commissions ”.

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