BGFIBank Group demonstrates its resilience despite a contrasting economic context and an increasingly demanding legal and regulatory environment.

A press release relaying the work of the Board of Directors of BGFIBank Holding Corporation, which met on April 10, 2019, informs that the banking institution has been able to maintain its achievements.

It posted a controlled and profitable growth with a Total Balance Sheet of CFAF 3,137 billion, up 5% compared to the 2018 financial year in line with the objectives set out in the "Excellence 2020" Business Project.

The same source confides that the BGFIBank Group continued its efforts to strengthen equity with a net position of CFA F 375 billion up 7% compared to last year.

According to him, the activity of the BGFIBank Group was characterized by an increase of the deposits of the customers of 5% to be established at 2 170 billion CFA F, on the one hand, and by an increase of the deposits of the customers, on the other hand.On the one hand, and by an increase of the loans to the customers of 4% to amount to 2 123 billion CFA francs compared to the previous exercise, on the other hand.

Through this level of activities, the document continues, BGFIBank Group confirms its status as a major player in the financing of African economies.

In terms of operations, it adds, BGFIBank Group posted a Net Banking Income of CFAF 205 billion, stable compared to the 2017 fiscal year.

Thanks to its good control of overheads as well as its cost of risk, the press release reads, BGFIBank Group closed 2018 with a net profit of CFA F2018 with a net income of CFAF 30.5 billion, up 6% compared to the previous year.

8.654 billion CFA francs of gross dividend to be distributed

The Board of Directors, which was chaired by Mr. Henri-Claude Oyima has, according to the communiqué, decided to propose to the next general meeting of shareholders the distribution of a gross dividend per share of 5,500 FCFA representing a total amount of 8.654 billion FCFA.

The writers of the document explain that the mathematical value of the share continues to grow to 196 300 F CFA, after distribution, for a nominal value per share of 90 000 F CFA.

The Board of Directors has, moreover, decided to propose to the next general meeting of shareholders the appointment of three new independent directors in order to reinforce the governance of BGFI Holding Corporation, on the one hand, and to comply with the regulatory requirements of Basel II and Basel III, on the other hand.

Thus, the Board of Directors will be composed of 10 directors, of which 6 are independent, 3 non-executive and 1 executive.

In their opinion, all the above confirms the financial strength and resilience of the BGFIBank Group which has been able to adapt to the contrasting economic contexts and the requirements of the new regulatory packages.