Ivory Coast: Positive assessment for the banking sector in 2011

Mar 07, 2012

Commercial banks in the Ivory Coast performed particularly well in 2011, reports the AFP.

Commercial banks in the Ivory Coast performed particularly well in 2011, reports the AFP.

It was praised by the Professional Association of Banks and Financial Institutions of the Ivory Coast during a ceremony presenting a banking assessment of the country after the strengthening of the Ivorian economy.

According to the association, the sector has witnessed growth of its total assets, which have gone from CFAF 2.867 billion (€4.3 billion) in 2008 to CFAF 3.914 billion in 2011, explains the new provider.

This positive assessment has also resulted in the increase of access to finance for the Ivoirians. Indeed, 1,847,837 bank accounts have been opened in the country's 21 banking institutions in 2011 ,which is an increase of 110 percent compared with 2008.

Those results comfort the country's bankers and suggest the improvement is only the start and that 2012 will keep on witnessing an improvement of financial access.
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