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Finance

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

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.  

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