(Business in Cameroon) - In a statement after its general assembly to visa accounts and review activities, Afriland First Bank said it had a portfolio of bank credit which reached 300 billion francs Cfa in 2012
The General Manager of the bank, Alphonse Nafack said the profits are thanks to the institution’s decision to enlarge its network of branches. As of now the bank counts 32 branches in the country.
In 2012, it also helped the State of Cameroon to raise 200 billion francs CFA in the sale of treasury bonds to finance giant projects aimed at propelling Cameroon into an emergent economy by 2035.
Nafack said during his address at the general assembly that his bank financed projects in the energy, real estate, agro-industry and telecommunications sector. On April 29, 2013, Afriland Bank and the rubber agro-industry, Hevecam signed a loan agreement worth 10 billion francs CFA for a period of 10 years.
In 2012 among other projects, the bank financed the construction of thermal plants in Yassa, Limbe and Kribi. The bank holds 460 billion francs CFA in deposits, according to the statement.