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Ecobank Cameroon posts healthy turnover

Ecobank’s Cameroonian subsidiary recorded a positive result at the end of 2016, as net banking income stands at CFA39.355 billion, signifying an increase of CFA687 million compared with the previous year.Net income before taxes amounted to CFA13.840 billion, rise of 23 percent compared with 2015.

Furthermore, customer deposits amounted to CFA401.420 billion for a balance sheet total of CFA507.061 billion.

The rate of unpaid deposits on total deposits is 58 percent, while customer loans amount to CFA260.085 billion.

“This performance reflects an excellent customer service quality, which significantly improved in 2016, increasing the quality of the service measurement index from 64 percent in 2015 to 70 percent,” Ecobank Cameroon Board of Directors said.

Those performances place Ecobank among the top five banks out of the 14 banks operating in Cameroon.

This informs the Board’s satisfaction against the backdrop of a difficult economic situation marked by the drastic decline in oil prices and security threats from Boko Haram in the far north of the country.

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