Oragroup announces strong growth in 2018 results and the arrival of Ferdinand Ngon Kemoum as Chief Executive Officer to succeed Mrs. Binta Touré Ndoye. Following its Board of Directors, the pan-African banking group Oragroup announces a strong increase in its performance for the 2018 financial year.

"Oragroup has a balance sheet total of 2,171 billion CFA francs ($3.7 billion), an increase of 21% compared to the previous year.

Customer deposits throughout the Orabank network amounted to CFAF 1,462 billion and credit operations to CFAF 1,255 billion, an increase of 24% and 16% respectively. In total, the Group posted net banking income of 126.77 billion CFA francs ($221 million, +17%) and consolidated net income up 36% to 29.77 billion CFA francs ($51.9 million)," reads a statement received by the Journal de l'économie sénégalaise (Lejecos).

"These strong growth results reinforce our development strategy based on the group's transformation, the deployment of the Orabank brand, the consolidation of our activities and the optimization of our network to generate performance at the service of our customers and create value in our markets. s", explains Binta Touré Ndoye, CEO of the Group.

These 2018 results also confirm the 2016-2018 "Consolidation and Efficiency" strategy, which has made it possible to accentuate the Group's integration with a common vision and values, to finance its expansion by controlling expenses, to strengthen risk management, to mobilize new resources and to consolidate its financial strength.

According to the statement, in 10 years, Oragroup's growth trajectory has been exemplary. "The Orabank network has grown from a presence in five west and central African countries to a pan-African dimension with subsidiaries in 12 countries spread over four currency zones.

After being the "best regional bank in West Africa" in 2015 and 2017 (African Banker Awards).

"I am proud of this trajectory and the performances achieved by all employees.

In 2018, Oragroup, which celebrated its 10th anniversary with the entry into the capital of the pan-African investor Emerging Capital Partners in 2008 and its 30th year of banking activity, has accumulated new room for manoeuvre to accelerate its development," explains Binta Touré Ndoye, in office since July 2016 as Chief Executive Officer after having been Deputy Chief Executive Officer since September 2015.

"Emerging Capital Partners' strategy is to create value in each of its investments by bringing all the company's activities up to international standards to bring out regional champions supported over time.

Thanks to the work and commitment of Binta Touré Ndoye, whom I would like to thank and with the IPO, we have achieved this," explains Vincent Le Guennou, Chairman of the Board of Directors of Oragroup and Co-CEO of Emerging Capital Partners, who announces the appointment of Ferdinand Ngon Kemoum as Chief Executive Officer from the 1st June after the general meeting of the group.

Ferdinand Ngon Kemoum was Deputy Chief Executive Officer of Oragroup from October 2009 to September 2015 before joining Emerging Capital Partners, from which he resigned to take up his new role.