Oragroup held its ordinary general meeting on Monday in Lomé to approve the financial statements for the year ended 31 December 2019.

Oragroup posted excellent results, with a total balance sheet of 2,634.3 billion CFA francs, an increase of 22% compared to the previous year, the bank said in a statement.

Customer deposits from the entire network amount to 1,822.5 billion and customer receivables to 1,366.2 , an increase of 25% and 13% respectively. 

In total, the Group posted net banking income of CFAF 146.9 billion (+16%) and consolidated net income up very sharply by 47% to CFAF 18.3 billion.

The year 2019 marked a real turning point for Oragroup, thanks in particular to its entry on 16 April 2019 at the Bourse Régionale des Valeurs Mobilières (BRVM), during the first ceremony listing in Lomé. 

This IPO – the largest since the creation of the BRVM in 1998 – is both the culmination of work done over the past 10 years but also and above all an incentive to continue in the same sees me. Market confidence confirmed the strength of Oragroup's model and the Group's growth potential.

By its IPO of 20% of the capital, Oragroup wanted to accelerate its growth trajectory, which is confirmed today by very strong 2019 results. By jointly carrying out a capital increase and a sale of shares, Oragroup had then devoted its regional anchorage and attractiveness, to actively contribute to the development of the regional financial market.

Oragroup is present in 12 countries of West and Central Africa and in four currency areas (UEMOA, CEMAC, Guinea Conakry, Mauritania). 

The bank has 157 branches and a customer portfolio valued at 500,000 (companies and individuals).