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Yaoundé - 22 July 2019 -
Finance

Cemac: Total balance sheet of financial institutions reached XAF471 billion in Q3 2018, up 1.6 year-on-year

Cemac: Total balance sheet of financial institutions reached XAF471 billion in Q3 2018, up 1.6 year-on-year
  • Comments   -   Thursday, 24 January 2019 12:49

(Business in Cameroon) - The Cemac central bank Beac reports that during the third quarter of 2018, the total balance sheet of financial institutions operating within the region peaked at XAF471 billion, up XAF7.2 billion (+1.6%) compared to the same period in 2017. Figures cover the 9 banking institutions in the Cemac financial system, 7 of them being in Cameroon and 2 in Gabon.

The uptick, Beac says, is the combined result of a decline in gross loans from XAF29 billion (-8.9%) to XAF288.6 billion, an increase by XAF7.2 billion (+17.7%) in customer deposits particularly unallocated deposits, a deterioration in quality portfolio added to a decrease by XAF3.6 billion (-2.3%) in outstanding receivables.

The increase in the cash surplus was XAF45.4 billion (+40.8%), due to a decrease in loans and an increase in deposits. Beac also notes an increase in the surplus of permanent capital (+2.94%), following a strong increase in the level of equity capital.

S.A

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