(Business in Cameroon) - On June 24, 2014, Citi Bank Cameroon made its shareholders’ decision official in Douala, the economic capital of Cameroon, to increase the bank’s social capital by 2.4 billion FCFA, bringing the total to 10 billion FCFA.

In a legal announcement published on August 4, 2014, it was revealed that this was done through incorporation into the above-mentioned capital, taken from the retained earnings account. After taking the money, they then looked to “the distribution of 243,135 free shares” to the American capitalised banking institution’s shareholders.

This increase in Citi bank Cameroon’s capital meets demands made by Central Africa’s banking sector regulator, COBAC, which incited all banks of the CEMAC zone to bring their social capital to at least 10 billion FCFA.