BANK LOANS : Afriland Bank Achieves a Portfolio of 1,241 Billion XAF

The latest statistics from Cameroon’s National Economic and Financial Council indicate that Afriland First Bank emerged as the leading provider of bank loans in 2023, surpassing other financial institutions in the country. With a market consisting of 17 banks, Afriland First Bank and Société Générale Cameroun together managed to acquire 37.58% of the outstanding loans.

The Cameroonian-origin bank stands out with an impressive loan portfolio of 1,241 billion XAF. In fact, during the previous year, this volume increased by 23.2%, allowing the banking group to control a market share of 22.97%.

The figures from the National Economic and Financial Council also reveal that deposits reached a total of 7,723 billion XAF between January and December 2023, recording an increase of 723 billion XAF compared to the previous year. In this category, Afriland First Bank takes the lead with a portfolio of 1,418 billion XAF, closely followed by Société Générale Cameroun with 1,179 billion XAF. Banque Atlantique, Société Camerounaise des Banques, and United Bank of Africa complete the top 5 with respective portfolios of 728 billion, 684 billion, and 612 billion XAF.

Regarding the main borrowers of loans, individuals rank first with 20.5% of financial assistance, followed by private enterprises representing 14% of the market share. These two categories alone account for 78.25% of the loans granted. Consumer loans represent 17.36% of these financial assistance, closely followed by equipment loans (17.16%). Cash advances and investment loans captured 15.58% and 10% of the financing, respectively.

While Afriland First Bank dominates the majority of market segments, other banking institutions also stand out in the lending sector. French bank Société Générale takes the second position with 789 billion XAF, representing 14% of the market share. Société Camerounaise des Banques (541 billion), BICEC (465 billion), and Commercial Bank (455 billion) complete the ranking with respective shares of 10%, 8.62%, and 8.43%. It is worth noting that new players have also shown remarkable growth.

Lastly, Equatorial Guinea Bank (Bange Bank) and Access Bank from Nigeria stand out with a combined loan portfolio of 38.255 billion XAF. These figures correspond to 0.49% market share for Bange Bank and 0.21% for Access Bank.

S.N