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Mid-term results: BICICI Bank's net income increases by 38.3

12/09/2022
Categories: Companies

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At the end of the first half of 2022, the net income after taxes of the International Bank for Trade and Industry of Côte d'Ivoire (BICICI) increased by 38.3% compared to the first half of 2021.

The banking establishment's business report indicates that this net profit rose from 4.413 billion FCFA in the first half of 2021 to 6.105 billion FCFA a a year later, representing an increase of 1.692 billion CFA francs in absolute terms. According to BICICI management, this improvement is the result, among other things, of the control of management fees and the cost of risk, which led to an increase of 37.3% in current profit before taxes.

During the period under review, the Bank's management fees only increased by 5.12% to 15.535 billion FCFA compared to 14.778 billion FCFA as of 30 June 2021. As for the cost of risk, it was reduced by 500 million, from 964 million FCFA in the first half of 2021 to 464 million FCFA a a year later. This led to a current profit before taxes of 7.147 billion FCFA compared to 5.206 billion FCFA as of 30 June 2021.

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