Banks: 203.23% increase in net income of NSIA Banque Côte d’Ivoire in the third quarter of 2021

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The net income of NSIA Banque Côte d’Ivoire, a member of the financial group of the same name, increased by 203.23% in the third quarter of 2021 compared to the same period of 2020, announced the leaders of this banking establishment based in Abidjan.
This result rose from 4.855 billion FCFA as of September 30, 2020 to 14.722 billion FCFA as of September 30, 2021, i.e. an increase of 9.868 billion FCFA in absolute value. During the period under review, the total balance sheet of NSIA Banque Côte d’Ivoire changed by 14%, standing at 1524.253 billion FCFA against 1333.358 billion FCFA as of September 30, 2020.

Net outstanding loans which amounted to CFAF 918.317 billion against CFAF 814.468 billion as of September 30, 2020 (+ 13%). As for the resources collected from customers, their outstanding amounted to CFAF 976 billion against CFAF 836 billion in the third quarter of 2020 (+ 17%).

As far as it is concerned, the net banking income (NBI) of NSIA Banque Côte d’Ivoire stood at 54.074 billion FCFA as of September 30, 2021 against 46 billion FCFA a year earlier, an increase of 18% in relative value. According to the managers of the banking establishment, “ this development is explained by an increase in the interest margin and commissions which stand at CFAF 39.8 billion (+ 18%) and CFAF 14.3 billion respectively. (+ 18%) as of September 30, 2021. >> The interest margin is mainly driven by income from portfolio securities. As for the change in commissions, it is explained by an increase in commissions on fund transfers and proceeds from commitments by signature. Operating costs, up 9% compared to 2020, stand at 35.278 billion FCFA against 32.441 billion FCFA a year earlier.

For its part, the cost of risk fell sharply by 52%, standing at 3.5 billion FCFA as of September 30, 2021 against 7.2 billion FCFA as of September 30, 2020. << This fall in the cost of risk reflects, ” on the one hand, an improvement in risk control following the system put in place and, on the other hand, the culmination of the efforts made in the context of recovery (realization of guarantees held on certain customers) ”, say the managers form the bank.

The pre-tax result has increased by 184% during the period under review, standing at 18.1 billion FCFA against 6.373 billion FCFA on September 30, 2020. In outlook for the fourth quarter of 2021, NSIA leaders Banque Côte d’Ivoire claim that their establishment intends to continue the efforts made since the start of the 2021 fiscal year. structures operating in this sector in accordance with the new internal system for controlling the risks associated with this financing, ”they underline. They add that the activity will also be carried by the animation of the various partnership agreements signed with several institutions.

On another note, the managers of NSIA Banque Côte d’Ivoire believe that this structure is resolutely committed to improving the experience of its customers thanks to the changes that have been made to its mobile application and which will be deployed during of the fourth trimester.

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