Banking sector: Afriland First Bank retains leadership position.

The apex rating, which is not the first for Afriland First Bank, is linked to its all-round leadership role in all aspect of banking dynamics and contribution to national development, wealth creation and resource mobilisation for huge infrastructure projects.

Given its reach, based on its leading position as the commercial bank with the highest number of branches in Cameroon; with expansion works still on course, the financial institution is again in the news for succeeding itself in performance.

Afriland First Bank’s latest distinction as the Best Commercial Bank in Cameroon was unveiled at a recent crowd- pulling event at the La Falaise Hotel in Yaounde.

The event that grouped high profile guests from the government, civil society, media, parliament and traditional Chiefdoms, was the 22nd edition of prestigious The Guardian Post Achievement Award.

According to the award jury, Afriland First Bank’s rating is based on assessments from members of the public. 

It is on the basis of such massive endorsement of the bank that the jury said, it underscored prime position of the financial institution as the best.

In this light, the jury declared that the recognition of the financial institution as the Best Bank in Cameroon is thanks to its consistency in “being the best financial institution in financing Small and Medium Sized Enterprises, SMEs, major development projects, start-ups and revolutionalising the use of technology in taking services closer to clients”.

On hand to receive the recognition, February 25, 2025, was the Bank’s Commercial Director, Pierre Kammogne. 

The Commercial Director received the prize on behalf of the Director General of Afriland First Bank, Célestin Guela Simo.

Renewed commitment to stay atop

Reacting to the esteemed recognition, the management of Afriland First Bank, in a statement said, the prize ties with its “ongoing commitment to offering innovative solutions tailored to customers' needs”.

The financial institution stated that it “stands out for its approach based on proximity, innovation, financial inclusion and continuous improvement of service quality, in order to satisfy its customers and promote the country's social progress”.

It said based on the recognition process which involves voting from the general public, expert evaluation with renowned minds in the legal profession, media world and civil society approving the award, Afriland First Bank is proud of its achievements.

The rigorous nature of the selection, management said, “gives this distinction a high degree of credibility”.

Award call to remain innovative 

Afriland First Bank management also thanked its teeming clients for renewed trust, noting that the latest achievement of clinching The Guardian Post Achievement Award is “more than an award”.

The Bank’s management underscored that the “recognition is an additional source of motivation to continue innovating and improving customer experience, which remains our ultimate priority”.

The award marks a big start for Afriland First Bank for 2025 after it clinched the Leadership Prize in Banking in November 2024.

Afriland First Bank at the heart of innovation

It boasts of 84 branches nationwide, the highest for any commercial bank operating in Cameroon. The leading bank has 448 payment terminals, still the highest in Cameroon. 

The Bank also has 222 GAB machines which makes it possible for clients to deposit and withdraw money without any human assistance. In the application of this innovation, Afriland First Bank is also the leader.

Instant delivery of Bank cards at all branches 

Afriland First Bank is also among the few banks in Cameroon that deliver Automated Teller Machine, ATM cards, to clients instantly at all it branches. 

It has ended the old days wherein people had to open accounts and wait for weeks to be issued a bank card. At Afriland First Bank, the card comes instantly as one opens his/her account.

The adjustment has enhanced financial inclusivity, resulted in clients also gaining more time that is used for other gainful purposes among others.

Cost-free banking services 

The nation’s foremost indigenous bank also has innovative services that clients use for free. These are; the application Sara and EFIRST. With Sara, customers make financial transactions through an electronic wallet at no cost except for the government tax on money transfers. 

It is an application which has placed Afriland First Bank at the top in promoting financial inclusion 

Meanwhile, the online service, EFIRST serves industry operators, business persons and entrepreneurs who may want to make emergency transactions. 

This could be the payment of staff salaries, special payments, bank transfer or produce a record of past transactions. The service is free.

Afriland First Bank consistently leading 

Beyond simplifying banking with the use of technology and other innovative services, Afriland First Bank has remained a distant leader in Cameroon’s banking sector on all indices. 

It is the bank with the most extensive network with services that reach even the unbanked. Figures show that in the last three years, Afriland First Bank is the major financial force of Cameroon’s economy and the lead provider of banking services. 

In the 2022 financial year for instance, the balance sheet of the institution was at; 1,768 billion FCFA. In that same year, its Profit Before Tax, PBT, was at over 28 billion FCFA. Profit After Tax, PAT, was at over 22 billion FCFA.

In the same 2022, its Non-Performing Loans, NPLs portfolio was at over 112 billion FCFA. Total cash deposits from clients in the same year was at over 1.392 billion FCFA while loans where at over 1,012 billion FCFA.

Afriland First Bank ended the year 2023 with a balance sheet that improved to over 1,859 billion FCFA and Profit Before Tax of above 35 billion FCFA. 

Its net profit for last year was capped at over 27 billion FCFA. Within the same year, Non-Preforming Loans were at above 133 billion FCFA. 

Total deposit for last year was at over 1,403 billion FCFA while it pumped more than 1,241 billion FCFA into the economy through loans.

Outstanding 2024 first half record

In the first six months of 2024, Afriland First Bank recorded a balance sheet of 1,894 billion FCFA. The figure showed the Bank then had already outpaced its annual records for 2022 and 2023. Its Profit Before Tax for the same period was at over 18 billion FCFA with Net Income hitting over 15 billion FCFA.

Non-Performing Loans for the first half of last year stood at a little over 62 billion FCFA. In terms of loans, Afriland First Bank gave out 1,268 billion FCFA between January and June 30,2024. Total deposits within the same period was at over 1,503 billion FCFA. 

This article was first published in The Guardian Post Edition No:3382 of Tuesday March 04, 2025