Yaoundé - 28 May 2022 -

CCA-Bank seeks to increase its capital, currently at CFA10 billion

CCA-Bank seeks to increase its capital, currently at CFA10 billion
  • Comments   -   Thursday, 12 May 2022 12:31

(Business in Cameroon) - Crédit communautaire d'Afrique-Bank SA (CCA-Bank), Cameroon's 15th largest bank, is in the process of increasing its share capital, which currently stands at CFA10 billion.

In a statement issued Wednesday, the chair of the board (COB), Albert Kemle, convenes an extraordinary general meeting for May 21 in Bangou, in the west of the country, to discuss the issue. The percentage of increase of this capital is not indicated. The bank does not indicate how or why this increase will be carried out, but the statement suggests that it would involve an increase in equity. This method, according to the bank, would imply amending the articles of association, revising the remuneration of shareholders, and even new geography of capital.

The Banking Commission of Central Africa (Cobac) reported that at the end of January 2022, CCA Bank had outstanding deposits of CFA378.4 billion and outstanding loans of CFA179.3 billion, i.e. 6% and 4% of the market share respectively.

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