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Bank: Oragroup posts a solid profit in the first quarter

30/04/2025
Source : ORISHAS FINANCE
Categories: Sectors

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In the first quarter of 2025, the Togolese lender Oragroup recorded a net profit of 4.8 billion FCFA (8.3 million dollars), an increase of 259% compared to the loss of 3 billion FCFA (5.2 million dollars) recorded the previous year.

This performance of the West African banking group was achieved despite a 2% drop in net banking income to 51.1 billion CFA francs (88.5 million $). Profit before tax reached 5.8 billion FCFA (10 million $), after a loss of 1.7 billion FCFA (2.9 million $) in the first quarter of 2024. Cost reduction measures led to increased profits, with risk costs falling by 60% and overheads reduced by 1%. This offsets the challenges posed by global trade disputes that have disrupted financial markets

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Customer deposits fell by 6% to 2.92 trillion FCFA (5.1 billion dollars), while net loans fell by 18% to 1.62 trillion FCFA (2.8 billion dollars). The bank plans to intensify its efforts to mobilize resources at lower cost over the coming quarters to support deposit and lending growth in its markets

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