Beac's net result fell XAF62.7bln y/y in 2018

Finance

Beac's net result fell XAF62.7bln y/y in 2018

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- Thursday, 11 April 2019 11:45

(Business in Cameroon) - The Bank of Central African States Beac achieved last year a net positive result of XAF14.4 billion. Figures are however down XAF62.7 billion compared to the XAF77.1 billion collected the previous year, according to the bank’s financial statements.

The significant decline is linked to lower income revenues achieved by the market room, with the maturity in January, April and July 2018 of three lines of securities in the investment portfolio. In need to keep risks in check in its market room, Beac decided last year “not to build up a new investment portfolio, given the 2.4-month foreign exchange reserve coverage ratio, below the three-month target threshold set by the Monetary Policy Committee.”

BRM

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