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Cameroon: Total balance sheets of banks reached XAF5,596 billion in late Nov 2018, against XAF426 billion for financial institutions

Cameroon: Total balance sheets of banks reached XAF5,596 billion in late Nov 2018, against XAF426 billion for financial institutions
  • Comments   -   Wednesday, 13 March 2019 18:15

(Business in Cameroon) - Total balance sheet of banks operating in the country reached 5,596.2 billion in November 2018 from XAF5,353 billion November 2017, an improvement by 4.5%, the National Credit Council (CNC) reports.

Customer deposits with banks increased by 3.7% from XAF4,026.1 billion to XAF4,175.4 billion between the two periods. Meanwhile loans grew by 5.8%, from XAF3,318.8 billion to XAF3,512.9 billion. However, the external position of the banking sector deteriorated by 310% (XAF-45.9 billion in November 2017 to XAF-188.1 billion in November 2018).

As for financial institutions, balance sheet grew by 7.7% from XAF396 billion to XAF426.3 billion. Customer deposits increased from XAF33.7 billion to XAF43.8 billion, up 30%.

CNC also noted a 3.3% increase in customer loans, from XAF197.7 billion to XAF204.2 billion during the period under review.

S.A.

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