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UEMOA: Société Générale crosses the 100 billion CFA mark in profits

27/05/2025
Source : ORISHAS FINANCE
Categories: Sectors

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Société Générale Côte d'Ivoire (BRVM: SGBC) published a record net profit of 101.22 billion CFA francs (175 million dollars) for the fiscal year 2024. It thus becomes the first UEMOA bank to exceed the symbolic bar of 100 billion

CFA francs.

Société Générale Côte d'Ivoire is now placed in the top 10 of the most profitable companies in Côte d'Ivoire. SGCI has a net margin of 38.46% and a return on equity of 22.41%, both well above industry averages. Its solvency ratio is 16.30%, well exceeding the 11.5% required by the BCEAO style="font-family: "Bookman Old Style”, serif">. The board of directors approved a dividend of 1,863 FCFA per share, representing 57.25% of net income, with a yield of 7.5% at the current price. Also, SGCI shares grew by 22% year-on-year to 22,010 FCFA. Its 2025 strategy includes digitalization, SME lending, and operational efficiency, in a context of increased competition from new market entrants like JPMorgan. SGCI's 2025 outlook focuses on digital transformation and lending to SMEs, as competition intensifies in the West African banking landscape

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