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BOAD: net profit up by 8.09% in 2024

08/04/2025
Source : ORISHAS FINANCE
Categories: Sectors

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In its ordinary session held on April 03, 2025, the Council of Ministers of the West African Monetary Union (UMOA), approved the accounts of the BOAD, for the financial year ended on 31 December 2024.

The institution shows the continued consolidation of its operational and financial performance.

The balance sheet total stood at 3,893.477 billion FCFA compared to 3,482.022 billion FCFA at the end of the previous fiscal year. Net banking income was increased to 114.885 billion FCFA against 111.033 billion FCFA in fiscal year 2023. As of December 31, 2024, the bank recorded a net profit of 39.402 billion CFA francs, against 36.453 billion CFA francs, at the end of 2023, i.e. an increase of 8.09%. Thanks to the profit generated, the Institution's own funds and the specific funds dedicated to state support are strengthened. This consolidation increases the Bank's solvency ratios and its capacity to finance projects for the UEMOA states

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The operational implementation of the increase in share capital of 554.350 billion CFA francs, the issuance of 100 million EUROS in subordinated debts, the continued implementation of risk transfer solutions (use of debt securitization and CR& insurance) eacute; dit) and the expansion of the bonus mechanism were the main means and levers of action of BOAD during the financial year 2024

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