Bank Of Africa (BOA) Senegal recorded net income at the end of the third of 2022, an increase of 45% compared to the third quarter of 2021.

The activity and earnings report prepared by the management of this bank mentioned that this result increased from 7.558 billion FCFA at September 30, 2021 to 10.923 billion FCFA at September 30, 2022. According to the Bank's management, activity was growing at the end of September 2022 in a very competitive Senegalese banking market. For their part, outstanding customer loans increased by 6.8% to 343.445 billion CFA and deposit collection increased by 8.4% to 483.222 billion FCFA.

Net banking income increased by 15.1% and stood at 29.461 billion FCFA compared with 25.593 billion FCFA as of September 30, 2021.This increase according to the management of BOA Senegal is driven by the increase in commissions by 20% and the bank margin by 16.4%. Despite inflation at 11.9% at the end of September 2022, general expenses remain under control with a slight decrease of 0.5% according to the bank's opinion.