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Banking activities: BOAD increases its result

02/04/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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BOAD seems to have largely anticipated potential disruptions in the face of growing uncertainty. It has taken a cautious approach to its operating expenses.

The BOAD indicated in a press release that “the operational implementation of the increase in share capital of 554.350 billion FCFA, the issuance of 100 million USD in subordinated debt, the undertaking of financial optimization measures and the matching of the subsidy mechanism were the main means and levers of action of the BOAD in fiscal year 2023”. The bank's effective own funds amount to 1,228.057 billion CFA francs, representing 35.27% of the total balance sheet. Also, the institution has obtained a solid foundation to deal with market vagaries thanks to the openness to new partnerships and the renewed commitment of Member States, in particular through facilities set up under an agreement with the Arab Bank for Economic Development in Africa (BADEA

).
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