The Ivorian Bank Company, a 75% subsidiary of the Moroccan group Attijariwafa Bank, remained on a less vigorous growth in 2020. In a context of covid-19, the company experienced its slowest growth in net banking income (GNP), the equivalent of turnover, since 2016.

The Ivorian Bank Company, a 75% subsidiary of the Moroccan group Attijariwafa Bank, achieved at the end of December 2020, a GNP of 74.4 billion FCFA. According to data provided on the Regional Stock Exchange (BRVM) of Abidjan, GNP is up 3.6% against +9% in 2019, and up to +16.2% in 2018. This performance is also below the average of the last five years (+13.3%).
"Given the effects of the pandemic, credit has remained concentrated mainly on large companies negotiating terms leading to a reduction in average rates. Added to the strong increase in financial expenses resulting from the collection of term deposits in 2019, this led to a slight increase in the customer interest margin," the bank explained to its investors.
As for net profit, it came to 30 billion FCFA, up for the fifth time since 2015. But at +8%, its growth breaks the pace of +21% of the year 2019, and the average of 18% annually, since 2016.