The National Directorate of the Central Bank of West African States (BCEAO) for Senegal and the leaders of credit institutions held their first quarterly meeting for the year 2021 this Wednesday by videoconference. From the analysis of the situation of the Senegalese banking system, it appears that banking jobs increased by 843 billion FCFA in 2020.

The Senegalese banking system was marked in 2020 by a good performance of the main indicators, with an increase in banking uses of 843 billion FCFA in annual variation to settle at 7,609.3 billion FCFA.
According to the final communiqué of this meeting, this situation is due to the effect of the exceptional measures taken by the State and the Central Bank to limit the impact of COVID-19 on the Senegalese economy.

"The increase in banking uses was made possible, mainly as a result of the substantial increase in assistance to the central administration and its branches, in the form of loans or subscriptions to public securities and, to a lesser extent , credits to the private sector,” the statement said.

In terms of the resumption of activities in certain economic sectors, and the impact on the profile of their risk portfolios on customers, the general managers of credit institutions have highlighted the importance to be attached to maintaining consultations close relations between the State and the banks, in particular in the implementation of the economic recovery plan.