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Yaoundé - 07 August 2020 -
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Cameroon hands over the presidency of BDEAC’s board of directors with net profit up 32%

Cameroon hands over the presidency of BDEAC’s board of directors with net profit up 32%
  • Comments   -   Monday, 13 July 2020 16:55

(Business in Cameroon) - On July 10, 2020, Cameroon's Finance Minister, Louis Paul Motaze, stepped down from his position as president of the board of directors of the Development Bank of the Central African States (BDEAC) to be replaced by his Central African counterpart, Henri-Marie Dondra.

"Henri-Marie Dondra thanked Mr. Louis-Paul Motaze (...) for his valuable contribution to the modernization of the Bank's operations and the good results achieved by the institution throughout his tenure. He also affirmed his commitment to continue the work of his predecessor," the final communiqué of the Board's deliberations reads.

Indeed, the Cameroonian is leaving this position with all key indicators on the rise. The bank posted a net profit of CFAF 15.24 billion for 2019 against CFAF 11.53 billion at the end of 2018: an increase of 32%.  The net banking income has also risen by 4%, from CFAF 19.40 billion in 2018 to CFAF 20.15 billion in 2019. In addition, the BDEAC’s total balance sheet reached CFAF 459.87 billion at end 2019 against  CFAF 428.63 billion at the close of the previous financial year, i.e an increase of 7%.

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