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NSIA Banque Côte d'Ivoire: the institution recorded a 37% increase in net income in 2022

14/04/2023
Source : ORISHAS FINANCE
Categories: Sectors

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NSIA Banque Côte d'Ivoire recorded a 37% increase in net income for the 2022 financial year compared to 2021.

The financial statements of NSIA Banque Côte d'Ivoire highlight a net result of 32.382 billion FCFA compared to 24 billion FCFA in 2021. Indeed, according to the Bank's management, “this remarkable performance, corresponding to 128% of the achievement of the budgetary forecasts, is essentially based on the improvement in the net cost of risk by 2 billion FCFA compared with 2021, and the achievement of non-operating income in the context of transactions involving the sale of fixed assets.” As of December 31, 2021, customer deposits increased from 1128.5 billion in 2021 to 1220.3 billion FCFA against FCFA. For its part, the total NSIA Banque Côte d'Ivoire balance sheet increased by 15%, to 1 885.056 billion FCFA compared to 1 644.547 billion FCFA in 2021.

Net banking income reached 80.105 billion FCFA compared to 76.622 billion FCFA in 2021, an increase of 5%. An evolution that is explained by the combined effect of two factors. This is the 16% increase (+3.4 billion FCFA) in commissions, which stood at 24.6 billion FCFA at December 31, 2022 compared with 21.2 billion FCFA at December 31, 2021, mainly driven by the increase in the level of commissions on foreign currency transactions (+2 billion FCFA) and the increase in the level of commissions on commitments per signature (+1.4 billion FCFA). Then the level of the interest margin was maintained, which stood at 55.6 billion FCFA compared with 55.4 billion FCFA achieved in December 2021.

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