Banks' balance sheet in the WAEMU region up 18.4%

Dec 10, 2015

They are "financially sound", according to a new report.

Banking institutions in West Africa are "financially sound", according to the annual report of the WAEMU region's Banking Commission.

They had a total balance sheet of 23.7 billion CFA francs (€36.1 million) in December 2014, up 18.4 per cent on average on the same period in 2013.

The countries that experienced the largest increase are Mali (+ 27.7 per cent) and Côte d'Ivoire (+ 21.6 per cent), while those who have experienced the lowest growth are Guinea-Bissau (+ 11 per cent) and Senegal (+ 12.1 per cent).

In addition, the number of branches, offices and sales outlets increased by 8.4 per cent to reach 2306 units, while the number of ATMs increased by 13.2 per cent to 2.571 units as of December 31st, 2014, says the report, seen by Lejecos.

The number of bank accounts also increased by 15.1 per cent in the WAEMU region to reach 8.7 million.ADNFCR-2976-ID-801807803-ADNFCR