BANK LOANS : Cameroon Registers 4,550.1 billion Increase in March 2023

Despite the restrictive monetary policy put in place by the Bank of Central African States (BEAC) to restrict access to financing in order to combat rampant inflation in the CEMAC zone, Cameroonian banks have kept the course on the credit market.

At the end of March 2023, local banks granted a total of 4,550.1 billion FCFA in loans to the economy. According to the data published by the Central Bank, this envelope is up by 10.3% year-on-year, bank loans amounted to 4,121.6 billion FCFA in 2022. This progress was supported by the 17 banks that make up the Cameroonian banking system.

The banks granted more short-term loans worth 2,365.3 billion FCFA, with an increase of 12.1% against 2,110.5 billion FCFA granted in March 2022. As for medium-term loans, they jumped to 2,047.1 billion FCFA (+ 9.1%) in March 2023. Long-term loans were the least granted with 137.5 billion FCFA against 134.6 billion FCFA in March 2022. Long-term loans, which are meant to support investment over a long repayment period, were the least solicited, as they represent only 3% of the overall portfolio of banks. The latter prefer to focus on the short term (51.98%) and the medium term (44.99%).

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In effect, after BEAC relaxed its financing conditions in 2020 order to support the economies of the subregion affected by the Covid-19 health crisis, the CEMAC Central Bank changed its orientation in 2021, by giving an upward trajectory to its key rates. Last March, the monetary issuing institute raised, for the 4th time since December 2021, its key rates to 5% for the tender interest rate (Tiao) and to 6.75% for the marginal lending facility rate (TFPM).

After analyzing the risk factors weighing on monetary stability, the Monetary Policy Committee (CPM) held on June 26, 2023 in Yaoundé, the committee decided to keep the key rates unchanged.

Sorelle Ninguem

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