Yaoundé - 21 March 2023 -

Four Cameroonian banks led the Cemac credit market in Q1 2022

Four Cameroonian banks led the Cemac credit market in Q1 2022
  • Comments   -   Thursday, 13 October 2022 14:53

(Business in Cameroon) - Four Cameroonian banks dominated the banking credit market in the Cemac region over the first quarter of 2022. Afriland First Bank, SCB Cameroon, Société Générale Cameroun, and Bicec accounted for 67.9% of all loans granted within the period, we learned.

“Afriland First Bank came first with 19.88% of the total amount of credit granted in Q1 2022.  A quarter earlier, this institution was second with 18.38%. SCB Cameroon, which ranked third in Q4 2021, gained 46 points and became second with 18.31% of the shares. At the end of 2021, Societe Generale Cameroon was the market leader. In Q1 2022, this bank ranked third with 16.16% of the market share. Bicec's market share remained stable at 13.06%," the central bank Beac said in a recent report.

Although they dominated the market, the overall credit amount granted by Cameroonian banks in Q1 2022 was well below that granted a quarter earlier. Beac revealed that the Cameroonian banking system injected CFA1,013.3 billion into the economy in Q1 2022 against CFA1,185.9 billion in Q4 2021, down 14.55%.

"Over the same period, the supply of credit in Cameroon remains dominated by banks, which concentrate 98.78% of total financing recorded, against 1.22% for financial institutions," the central bank indicated.  Let’s recall that Cameroon has a network of 18 licensed banks and is home to 40% of the industrial fabric of CEMAC, according to various official data. The country has nearly 50% of the banking network of the community.

Brice R. Mbodiam

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