Cemac: Bank credit supply to large companies down 18.2% YoY in Q3 2022
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Comments - Monday, 20 March 2023 08:45
(Business in Cameroon) - The volume of bank credit received by large companies in the Cemac region dropped by 18.2% year-on-year in the third quarter of 2022, official Beac data showed. This volume, although higher than that received by small businesses (SMEs), went from CFA1,165.6 billion in Q3 2021 to CFA952.82 billion in Q3 2022.
On the other hand, the volume of bank credit granted to SMEs recorded a significant increase of 27.69% over the period, going from CFA337.5 billion to almost CFA431 billion year-on-year.
"For other legal entities, the volume of loans fell by 65.85% between September 2021 and September 2022, dropping to CFA8.72 billion from CFA27.99 billion. Loans to public administrations and decentralized communities also fell considerably during the period from CFA192.53 billion in September 2021 to CFA47.11 billion in September 2022, down 75.53%,” Beac said.
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