MINFI rates Afriland First Bank leader of banking sector in Cameroon.

The rating is the content of a recent report on the economic outlook of the nation’s economy, which the finance ministry published recently.

In the 50-page report, MINFI saluted the activities of Afriland First Bank and its undisputed role in driving resilience. Statistics from the finance ministry confirm the bank’s lead position with a market share of 23% in granting loans.

When it comes to deposits from customers within the same period, the report indicates that Afriland First Bank is also the first with 7.723.5 billion FCFA.

Meanwhile, statistics for the first quarter of 2024 on the situation of commercial banks in the country, also points to Afriland First Bank as being the most performing across all parameters.

On a general scale, the MINFI report puts the aggregate of commercial banks’ balance sheet in Cameroon, at 10.468.6B FCFA, as at the close of last year. 

The report indicates that there is an increase of 10.6 %, compared to the same period in 2022.

In terms of loans granted to customers to sustain economic growth, the MINFI reported indicates that as at December 2023, the total amount from the 17 banks in the country stood at 5,404.3 billion FCFA.  The amount, the ministry said, witnessed an increase of 14.9% year-on-year.

Afriland First bank, as per the MINFI report, is followed by Societe Generale Cameroun, SGC Bank, with 14.6%; Société Commerciale de Banque Cameroun- 10%; BICEC (8,6%); Commercial Bank Cameroon (8,4%); Banque Atlantique Cameroun (8%); BGFIBank (8%); CCA Bank (5,2%) and UBA (4,6%). 

In terms of deposits received from clients, the next to Afriland First Bank is Societe Generale with 15.3%.

Deposit share of others

In terms of deposits, the table shows the varying rates of what each bank received from clients viz; Société Générale (15,3%), Banque Atlantique (9,4%), SCB (8,9%), UBA (7,9%), BICEC (7,3%), CCA (6,7%), Citibank (6,3%), Ecobank (5%), CBC (4,9%), BGFI Bank (3,9%)

Meanwhile, data from the CERBER platform of the Central African Banking Commission, COBAC, indicates that between January and December 2023, outstanding bank loans in Cameroon amounted to 5,404.2 billion FCFA.

On a general scale, Afriland First Bank, remains the main financier of the economy, of the 17 banks operating in Cameroon with an outstanding amount of 1,241 billion FCFA 

Afriland First Bank is followed by Societe Generale Cameroun on 789 billion FCFA. Société Commerciale de Banque, SCB is on the third spot with outstanding loans of 541 billion FCFA.

The fourth largest bank in terms of granting credit is the International Bank of Cameroon for Savings and Loans (BICEC). It injected 465 billion FCFA into the economy. The Commercial Bank Cameroon with a credit of 455 billion FCFA francs, is the fifth biggest lender in Cameroon between January and December 2023 with 455.6 billion of FCFA. 

This story was first published in The Guardian Post issue No:3166 of Friday July 11, 2024