Cameroon: Bicec and Société Générale concentrated almost 50% of bank loans granted to economic agents in H2-2020 (BEAC)

Finance

Cameroon: Bicec and Société Générale concentrated almost 50% of bank loans granted to economic agents in H2-2020 (BEAC)

Comments

- Friday, 21 August 2020 14:08

(Business in Cameroon) - Between July and December 2019, banks operating in Cameroon granted XAF2,109 billion of loans to economic agents (down 16.7% year-over-year), the central bank BEAC indicates in its report on the evolution of borrowing rates in the CEMAC region.

According to the report, BICEC granted 28.7% of the overall loans while Société Générale Cameroon granted 19.95%. This means the two banks granted almost 50% of the credits offered during the period under review.

Commercial Bank of Cameroon (CBC) and Afriland First Bank, two banks majority-owned by Cameroonians, completed the top 4 of the banks that granted the most credit to the economy during the period. They respectively granted 14.44% and 9.52 % of the overall loans in that period.

BRM

Follow @investcameroun

Douala to host international conference on geographical indications in Africa

The African Intellectual Property Organization (OAPI) and its partners will hold an international symposium on the development of geographical indications...

Yaoundé unveils pilot corridor for rapid bus project to tackle urban congestion

yaounde-unveils-pilot-corridor-for-rapid-bus-project-to-tackle-urban-congestion

The pilot corridor of the Yaoundé Rapid Bus Transit (BRT) project will connect Olembe at the northern entrance of the capital to Ahala in the southern...

Cameroon secures major AfDB funding for development projects in Far North region

On April 12, during the official inauguration of its Central Africa regional office in Yaoundé, the African Development Bank (AfDB) signed a CFA133...

Cameroonian beer and soft drinks exports soar by 73% and 46.6% in 2022

Cameroon's brewing companies saw a significant boost in their beer exports in 2022. According to data from the National Statistics Agency (INS), exports...