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Attijariwafa Bank: an increase of 11% recorded for the first half of 2022

01/11/2022
Categories: Companies

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La Société Ivoirienne de Banque (SIB), which is majority controlled (75%) by the Moroccan group Attijariwafa Bank, said in its activity report on behalf of the former In the half of 2022, its net banking income (equivalent to turnover) amounted to 43.5 billion FCFA for the period. This is an increase of 11%, compared to the 39.2 billion FCFA achieved over the same period in 2021.

This year, the Société Ivoirienne de Banque is hosting the UEMOA regional stock exchange with the 5 billion FCFA mark of transactions that have passed. This is an enthusiasm for investors, perhaps finding its explanation in the solid performances, thanks to intermediation and market activities. Indeed, the increase in SIB's net banking income is explained by the dynamism of intermediation activity (loans to customers) and market performance (investments in securities). The SIB also indicated that it had controlled the increase in its expenses and benefitted from a 65% reduction in its cost of risk, apart from this increase in GNP. Thus, its net income (not yet audited) rose from 19 billion FCFA to 22.8 billion FCFA (+20%). Investors were particularly dynamic on SIB shares, according to the UEMOA Regional Stock Exchange (BRVM) based in Abidjan.

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