The Bank Of Africa (BOA) Burkina Faso, a subsidiary of the Moroccan banking group BMCE Bank, made an after-tax profit of 18.511 billion FCFA (27.767 million euros) at the end of the 2019 financial year, announced the leaders of this bank. banking establishment based in Ouagadougou.

Compared to the 2018 financial year when it amounted to 17.293 billion FCFA, this profit is up by 7.04%.

The bank's total balance sheet is also up by 9.66%, from 790.803 billion FCFA in 2018 to 867.213 billion FCFA a year later.

The resources collected by the bank from its customers amounted to 624.663 billion FCFA against 569.049 billion FCFA in 2017 (+9.77%). As for loans granted to this same clientele, they amounted to 527.719 billion FCFA against 513.110 billion FCFA in 2018 (+2.84%).

Interest and similar income increased by 948.813 million FCFA, standing at 48.895 billion FCFA against 47.946 billion FCFA in 2018. For their part, the interest and similar charges of the bank saw their level increase from 855.692 million FCFA to 22.371 billion FCFA against 21.515 billion FCFA at the end of the 2018 financial year.

Concerning the commissions received by the bank on the products, they amounted to 8.433 billion FCFA while they amounted to 6.650 billion FCFA a year earlier (+1.783 billion). Conversely, the commissions disbursed by BOA Burkina on its expenses were reduced by 23.400 million FCFA with an achievement of 254.525 million against 277.926 million in 2018.

Net banking income is also on the rise, rising from 39.642 billion FCFA in 2018 to 42.707 billion FCFA during the period under review.

For their part, general operating expenses increased by only 4.73% to 17.270 billion FCFA against 16.489 billion FCFA in 2018.

As for the gross operating profit (RBE), it increased by 2.545 billion FCFA, from 20.845 billion FCFA on December 31, 2018 to 23.390 billion FCFA a year later.

The bank's cost of risk doubled during the period under review, rising from 1.089 billion FCFA in 2018 to 2.063 billion FCFA a year later.

As for the operating result, it is up by 7.95%, standing at 21.327 billion FCFA against 19.756 billion FCFA a year earlier.