The rate of return on customer deposits of banks in the West African Economic and Monetary Union (WAEMU) decreased by 0.3 percentage points in October 2020 compared to the previous month, according to the survey on banking conditions carried out by the Central Bank of West African States (BCEAO).

This rate of pay was 4.9% during the period under review compared to 5.2% in September  2020.

The results of the survey on bank conditions also reveal a stability in lending rates during the month of October 2020. Excluding charges and taxes, the average borrowing rate calculated at the WAEMU level was 6.4%, almost stable compared to the previous month.

On the regional money market, the average amount of bids on the weekly auction window stood at 3,451.5 billion CFA francs in October 2020 against 3,391.5 billion CFA francs in September 2020, an increase of 1.8%. According to the Issuing Institute, these auctions have been carried out since March 27, 2020 at a fixed rate, namely the minimum interest rate for bidding on calls for tenders which has been reduced to 2.0% since June 24, 2020.

At the level of the WAEMU interbank market, the average weekly volume of operations, all maturities combined, increased by 31.1% to 284.3 billion CFA francs in October 2020. The weighted average rate of these operations was 3.10% against 3.04% in September 2020.

 Under the one-week segment, the average volume of operations stood at CFAF 160 billion in October 2020 after CFAF   113.1 billion a month earlier. The average interest rate on this window rose to 2.75% in October 2020 against 2.68% the previous month.