Oragroup: net income grew 314% in the first quarter

Following the closing of the accounts for the 2020 financial year of the pan-African banking group Oragroup during its Board of Directors, Oragroup is starting 2021 under good auspices. The banking group announces in the first quarter of 2021, an increase in net income of 314%, or 2,664 billion CFA francs in view of a moderate economic recovery in sub-Saharan Africa.

In fact, deposits from customers of the entire Orabank network, which amounted to 2,261 billion CFA francs, justify an increase of 25%. As are net customer loans which show an increase of 10% to reach 1675 billion CFA francs. The group also has net banking income of 44 billion CFA francs in the first quarter of 2021, up 16%.

“This first quarter of 2021 confirms our growth strategy in a context of economic recovery in sub-Saharan Africa, with activities continuing the upward trend that began in the course of 2020”, affirms Ferdinand Ngon Kemoum, Managing Director of Oragroup .

This upward trend in Oragroup’s first quarter net income is also observed in intermediation activities (+ 35%), commissions (+ 2%). “Despite the difficult context linked to the Covid-19 pandemic, I am delighted that Oragroup’s teams are continuing their efforts to achieve a satisfactory result in the strict discipline of costs and increasingly fine and rigorous management of risks », Says the general manager.

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