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Banks on the BRVM side: Oragroup leads in terms of GNP, but its profitability remains more modest

04/11/2022
Categories: Companies

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15 banks are listed on the Abidjan Regional Stock Exchange (BRVM). Of this number, 6 have already announced their unaudited financial results for the first 9 months of 2022. Oragroup is in first place in terms of the overall value of its activities, but its profitability remains more modest.

Oragroup is currently the first bank based on Net Banking Income (PNB), the equivalent of the declared turnover of 166 billion FCFA on behalf of the first three quarters of the year 2022 among all the other BRVM listed. Indeed, it has a larger scope of action and the performance of the period is greater than that declared by Société Générale Côte d'Ivoire (SGCI). SGCI is the largest bank in UEMOA, with a GDP of 155 billion CFA francs. Thus, Oragroup explained its performance by “the good performance of all its revenue lines” across almost all of its entities.

In reality, compared to the net amount of loans that the group granted to its customers in the first 9 months of 2021, it was up by 412.3 billion FCFA and s It now stands at 2,237.3 billion CFA francs. According to managers, this dynamic is explained by the increase in resources (deposits), which jumped by 17% to reach 2,784.2 billion FCFA. And according to them, this increase in activity is not yet reflected in an equivalent dynamic on margins. Noted that Oragroup's net profit remained at 14 billion FCFA during the period under review.

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