(Business in Cameroon) - Based on the accounts declared by the 52 banking establishments operating in the CEMAC zone as at 30 June 2016, sixteen of them posted losses, we learned at the end of a recent meeting gathering the managers of the banks in this community and the Central African Banking Commission (COBAC), the watchdog in the sector.

According to Lucas Abaga Nchama, Governor of the central bank of CEMAC member States and President of COBAC, two banks joined the group of institutions making losses this year, as they were only fourteen over the same period in 2015.

This underperformance however, as Lucas Abaga Nchama highlighted during the last meeting of the BEAC monetary policy committee, does not prevent the CEMAC zone from having a “solid” banking sector. With a net banking result at FCfa 444 billion over the period under review, thus approximately the same level as in 2015.

BRM