{"id":470824,"date":"2021-04-26T15:26:15","date_gmt":"2021-04-26T15:26:15","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=470824"},"modified":"2021-04-26T15:26:15","modified_gmt":"2021-04-26T15:26:15","slug":"banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/04\/26\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\/","title":{"rendered":"Banks: 8% increase in the profit of Soci\u00e9t\u00e9 Ivoirienne de Banque in 2020"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The after-tax profit of Soci\u00e9t\u00e9 Ivoirienne de Banque (SIB), a subsidiary of the Moroccan banking group Attijariwafa Bank, recorded at the end of the 2020 financial year an increase of 8% compared to the 2019 financial year, announced the managers of this establishment. bank based in Abidjan.<\/p>\n<p>It must be said that this increase is far lower compared to the previous year where it stood at 21%. The profit for the year under review stood at 30.261 billion FCFA against 28.057 billion FCFA on December 31. 2019, i.e. an increase of CFAF 2.204 billion against CFAF 4.857 billion in 2019. SIB&#8217;s total balance sheet, on the other hand, increased by 11%, standing at CFAF 1224.290 billion against CFAF 1099.398 billion. FCFA in 2019. This achievement was mainly impacted by increases in customer resources by 15% and customer jobs by 10%. The SIB has indeed seen its resources collected from its customers increase from 837.016 billion FCFA as of December 31, 2019 to 965.945 billion FCFA a year later, an increase of 129 billion. At the same time, the bank granted these same customers loans of CFAF 854.858 billion against CFAF 775.428 billion previously, an increase of CFAF 79.430 billion.<\/p>\n<p>Net banking income (GNP), for its part, increased by 4% to 74.467 billion FCFA against 71.887 billion FCFA a year earlier. According to SIB officials, this development is driven on the one hand by the net interest margin in connection with the increase in average outstanding loans of 13% and on the other hand by the margin on market activities due to increased income from portfolio activities. They recognize that the NBI is however suffering a decline in commissions of 2% mainly due to under-activity, especially internationally.<\/p>\n<p>General expenses were relatively well controlled in that they only increased by 2%, to 33.412 billion FCFA against 32.650 billion FCFA in 2019. % to 41.054 billion FCFA against 39.237 billion FCFA a year earlier. The bank&#8217;s cost of risk, on the other hand, deteriorated by 10% during the period under review, from 5.613 billion FCFA in 2019 to 6.149 billion FCFA a year later. According to the officials of the SIB &#8220;it reflects the effects of the health crisis which has led to several customer failures, especially among individuals and companies, the most important of which, which were somewhat fragile, had to be downgraded&#8221;. They also believe that, faced with the scale of the crisis on economic activities and its consequences not yet all visible, and because of the tangible difficulties of customers in meeting their commitments, it seemed prudent to take account of the impact of this crisis on the ability of already fragile clients to return to better fortune. This is how additional provisions, in accordance with regulations, were made on debts already compromised and downgraded, which amounted to 3.5 billion.<br \/>\nThe bank&#8217;s loss rate fell to 5.84% in line with the increase in jobs. On the other hand, the bad debt coverage rate increased to 93% against 86% in 2019.<\/p>\n<p>For its part, the bank&#8217;s operating income increased by 4% (against 17% in 2019) to 34.905 billion FCFA against 33.624 billion FCFA at the end of December 2019. of the SIB are of the opinion that the end of 2020 with a second wave of the Covid-19 pandemic leading to new containment measures across the world and the renewal of the state of health emergency in C\u00f4te d&#8217;Ivoire, \u201cdoes not bode well for the 2021 financial year, during which the impacts of the crisis should continue to have negative effects on the economic fabric. In this environment, they argue that their institution will continue to play its role as a leading bank by continuing to implement its Impact 2023 plan.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The after-tax profit of Soci\u00e9t\u00e9 Ivoirienne de Banque (SIB), a subsidiary of the Moroccan banking group Attijariwafa Bank, recorded at the end of the 2020 financial year an increase of 8% compared to the 2019 financial year, announced the managers of this establishment. bank based in Abidjan. It must be said that this increase is<\/p>\n","protected":false},"author":536282,"featured_media":470825,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[16158,11996],"tags":[16631,17976,15468,16,17977],"class_list":["post-470824","post","type-post","status-publish","format-aside","has-post-thumbnail","category-bank","category-finance-en","tag-16631","tag-8-increase","tag-banks","tag-banque","tag-the-profit-of-societe-ivoirienne","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Banks: 8% increase in the profit of Soci\u00e9t\u00e9 Ivoirienne de Banque in 2020 - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. We aspire to neutrality, but we assume our subjectivity\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.financialafrik.com\/en\/2021\/04\/26\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Financial Afrik\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/FinancialAfrik\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-26T15:26:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.financialafrik.com\/en\/wp-content\/uploads\/2021\/04\/Daouda-Coulibaly.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Albert Savana\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Financialafrik\" \/>\n<meta name=\"twitter:site\" content=\"@Financialafrik\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Albert Savana\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/\"},\"author\":{\"name\":\"Albert Savana\",\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/#\\\/schema\\\/person\\\/12e2e10e56f65df0540cb842b7b0ce22\"},\"headline\":\"Banks: 8% increase in the profit of Soci\u00e9t\u00e9 Ivoirienne de Banque in 2020\",\"datePublished\":\"2021-04-26T15:26:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/\"},\"wordCount\":585,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Daouda-Coulibaly.jpg\",\"keywords\":[\"2020\",\"8% increase\",\"banks\",\"Banque\",\"the profit of Soci\u00e9t\u00e9 Ivoirienne\"],\"articleSection\":[\"Bank\",\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/\",\"url\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/\",\"name\":\"Banks: 8% increase in the profit of Soci\u00e9t\u00e9 Ivoirienne de Banque in 2020 - Financial Afrik\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/2021\\\/04\\\/26\\\/banks-8-increase-in-the-profit-of-societe-ivoirienne-de-banque-in-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.financialafrik.com\\\/en\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Daouda-Coulibaly.jpg\",\"datePublished\":\"2021-04-26T15:26:15+00:00\",\"description\":\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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