2023-08-29 20:30:13
In the second quarter, the revenues of the Group and Bank of Africa SA show double-digit growth of +10.8% and +18.7% respectively, indicates the Bank of Africa in a financial press release.
Consolidated customer loans “excluding resales” show an increase of 1% to 198 billion dirhams at the end of June, adds the same source.
Customer deposits “excluding repos” posted a drop of 4.2% in consolidated to 231 billion dirhams, and -3.9% in social to 145 billion dirhams at the end of June 2023.
The press release also recalls the issue by Bank of Africa of a perpetual subordinated bond loan with loss absorption mechanism and coupon payment cancellation of 500 million dirhams (MDH).
Regarding the highlights, the press release highlights the strengthening of the independence and gender diversity within the Board of Directors of Bank of Africa, through the appointment of two new independent directors, Ngozi Edozien and Laureen Kouassi-Olsson. .
The press release also mentions the designation of Bank of Africa as “Best Bank in North Africa in 2023” by “The African Banker”, the obtaining of a loan of 50 million euros from the European Bank for Reconstruction and Development (EBRD), dedicated to Bank of Africa’s financing of small and medium-sized enterprises, or the celebration of the winners of the 5th edition of the Bank of Africa’s “Smart Bank” Territorial Open Innovation program, now extended to Souss region.
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