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Afriland First Bank claims leadership of Cameroon’s banking sector with a CFA1,011 billion total balance sheet as at June 30

Afriland First Bank claims leadership of Cameroon’s banking sector with a CFA1,011 billion total balance sheet as at June 30
  • Comments   -   Wednesday, 12 September 2018 18:21

(Business in Cameroon) - Afriland First Bank reports a total balance sheet of CFA1,011 billion as at 30 June 2018, claiming to be the leading bank in Cameroon. This feat is, according to CEO Alphonse Nafack, linked to the bank’s market penetration strategy, its innovation and desire to change the country's financial ecosystem.

“We have 742 employees, a strong workforce that justifies our performance. We intend to maintain our position and continue to innovate in the market,” says Alphonse Nafack.

During the period under review, Afriland First Bank has granted a total of CFA618 billion in loans. These credits were granted as salary advances, overdrafts, school loans, car and real estate loans.

Compared to the same period last year, the bank was listed as one of the five institutions, along with Société Générale Cameroun, Ecobank, SCB and Bicec, that provided about 72% of bank loans, according to the Ministry of Finance. This means out of the CFA3,321.1 billion granted in June 2017, Afriland and the four other banks granted CFA2,391.19 billion.

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