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Banque Atlantique Cameroun reported XAF6.5bln provisional net result in 2018

Banque Atlantique Cameroun reported XAF6.5bln provisional net result in 2018
  • Comments   -   Thursday, 21 February 2019 17:06

(Business in Cameroon) - Banque Atlantique Cameroun, 54% owned by Atlantique Business International, which is mainly controlled by Morocco’s Banque Centrale Populaire (BCP), reported a provisional net result of XAF6.5 billion as at December 31, 2018.

Banque Atlantique says the result was achieved with operations in seven regions, via 19 points of presence and more than 107,000 active customers for a total balance sheet of XAF226 billion. Net banking income in 2018 was XAF17 billion.

The Cameroonian subsidiary expects better performance in 2019, as it has just launched a mutual fund in the Cemac zone, thanks to a partnership with Harvest Asset Management.

With an initial outstanding amount of XAF11 billion, the fund aims to enhance capital appreciation through a range of assets consisting mainly of bonds issued on the financial markets and guaranteed by CEMAC Member States.

Let’s note that in 2017, Banque Atlantique Cameroun announced its share capital grew by XAF28 billion.

S.A.

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