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Yaoundé - 25 May 2019 -
Finance

Société Générale Cameroon fell out of top 5 most performing African subsidiaries of the French group in 2018

Société Générale Cameroon fell out of top 5 most performing African subsidiaries of the French group in 2018
  • Comments   -   Thursday, 14 February 2019 15:31

(Business in Cameroon) - Last year, the Cameroonian branch of French Société Générale fell out of the top 5 most performing African subsidiaries of the group. This was revealed in financial data provided by the company last February 7.

An analysis of this data however showed that, over the period reviewed, Société Générale Cameroon achieved its highest Net Banking Income (NBI) since 2015. The performance indicator was €104 million, or about XAF67.9 billion, in 2018, rising successively from €81 million (about XAF52.9 billion) in 2015, €77 million (about XAF50.2 billion) in 2016 and €92 million or about XAF60 billion in 2017.

Between 2017 and 2018, SG Cameroon’s NBI grew 13%, making it the 4th of the French group's 13 African subsidiaries in terms of year-on-year growth, behind the Guinean (+18.9%), Senegalese (+16.5%), Ivorian (+16%), and Tunisian (+13.3%) subsidiaries.

However, this growth in 2018 did not secure SG Cameroon’s 5th position of most performing subsidiary since the place was grabbed by the Senegalese branch. The top of the list remains the Moroccan subsidiary which reported an NBI of €410 million (about XAF267.8 billion) over the period reviewed.

Brice R. Mbodiam

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