The International Bank for Trade and Industry of Côte d’Ivoire (BICICI), a subsidiary of the French banking group BNP Paribas, made a loss of 3.612 billion FCFA (5.418 million euros) at the end of the 2019 financial year. , announced the leaders of this banking establishment based in Abidjan.
This financial year under review contrasts sharply with that of 2018 when this bank made a significant profit of CFAF 9.793 billion.
The loss of 2019 is unprecedented, especially since over the past five years BICICI has only made profits with ups and downs. From 10.834 billion FCFA in 2014, the profit fell to 9.251 billion FCFA in 2015 before rising to 12.046 billion FCFA in 2016 then falling to 7.100 billion FCFA in 2017 and reaching 9.793 billion FCFA in 2018.
The underperformance of the year under review was caused by the sharp rise of 273% in the cost of risk, which rose from CFAF 4.685 billion at December 31, 2018 to CFAF 17.492 billion a year later.
The inclusion of this cost of risk on the gross operating income recorded in the amount of 13.880 billion FCFA (against 16.425 billion FCFA in 2018) made the operating result in deficit with an achievement of -3.612 billion FCFA against 11.740 billion FCFA in 2018.
The bank’s balance sheet total, however, increased by 10.48%, standing at 748.861 billion FCFA against 677.786 billion FCFA in 2018.
Resources collected from customers, for their part, increased by FCFA 59.117 billion, amounting to FCFA 631.614 billion against FCFA 572.497 billion in 2018. As for customer receivables, they fell from FCFA 52.467 billion to 442.032 billion FCFA against 494.499 billion FCFA a year earlier.
During the period under review, interest and similar products remained almost stable, standing at 36.829 billion FCFA against 36.821 billion FCFA a year earlier. On the other hand, interest and similar charges increased by 2.119 billion FCFA, from 8.477 billion FCFA in 2018 to 10.596 billion FCFA in 2019.
The bank’s commissions saw their level increase by 959 million FCFA with an output of 19.609 billion FCFA against 18.650 billion FCFA at the end of the 2018 financial year.
As for the net banking income of BICICI, it fell by 5.84% to 45.937 billion FCFA against 48.787 billion FCFA as of December 31, 2018.
For their part, general operating expenses were reduced by 1.53% to 29.088 billion FCFA at the end of the year under review against 29.542 billion FCFA previously.