In its Monthly Note on economic conditions in WAEMU countries at the end of November 2019, the
Central Bank of West African States (BCEAO) takes stock of the net external assets (NEA) of
deposit-taking institutions. It informs that from one year to the next, the Aen of the depositary institutions of the Union
increased by 1,135.5 billion, or 24.1%, mainly in line with the increase in the number of
Bceao (+1,109.8 billion).
Indeed, it is explained, the official foreign exchange reserves of the Central Bank increased by 1,197.2
billions over the period. The mobilization of external resources by States and the improvement of the
repatriation of export earnings contributed in particular to the consolidation of foreign exchange reserves
of the Union.
In the same vein, the Bceao points out that domestic claims have increased year by 9.2% to 31,981.2 billion, in line with the increase in claims on the economy
(+1,976.4 billion) and claims on central government (APUC) (+730.9 billion).
The growth rate of claims on the economy stood at +9.3% against +9.2% in the same period of
the year 2018. This growth is in line with the increase in bank loans granted to households
(+810.6 billion) and private non-financial enterprises (+667.2 billion, or +5.6%). Loans to
Public companies increased by 194.0 billion, or +12.8%, while those for financial corporations
non-bank increased to 263.1 billion, or +121.2%.
On a monthly basis, adds the Bceao, newly implemented credits increased by 8.5%,
after an increase of 9.3% in October 2019. Thus, the monthly cumulation, all maturities combined, is
estimated at 1,401.5 billion in November 2019, after a level of 1,291.4 billion last month, in link
with the significant granting of loans to state-owned companies and sole proprietorships.
As for deposits mobilized by WAEMU banks, they recorded a decline of 6.0% at end
November 2019, coming out at 568.1 billion against 603.9 billion the previous month.
Bceao lending to banks increased by 2.8%, from 4,432.2 billion to 4,557.2
billions in October 2019. The contraction in the volume of bank deposits is attributable in particular to
state-owned companies and Epic (-50.8%), individuals (-9.7%) and sole proprietorships (-2.2%). However, il
there was an increase in deposits by private companies in the productive sector, customers
financial, state-owned companies and similar bodies, insurance and pension funds as well as< > cooperatives and village groups.