The Bank of Africa – Côte d’Ivoire reported a 16.23% increase in Net Banking Income for Q3 2024, driven by higher commissions. Operating profit rose by 21.44%, while net profit increased by 4.93%, hindered by a 143.65% rise in risk costs. The bank also noted an 11.67% growth in collected resources and a 5.51% increase in customer loans, demonstrating operational efficiency and customer confidence.
The Bank of Africa – Côte d’Ivoire (BOAC) has reported strong financial performance for the third quarter of 2024. The bank’s Net Banking Income (PNB) increased by 16.23% compared to the previous year, reaching 53,371 million FCFA, primarily due to rising commissions and enhanced margins. Operating profit also saw a significant uptick, growing 21.44% to 34,460 million FCFA.
In summary, BOA Côte d’Ivoire displays resilience amidst rising risk costs, illustrated by its strong revenue growth and operational performance. Investors may find confidence in the bank’s strategic direction and growth potential, despite the notable increase in risk assessments that necessitates careful management to ensure sustained profitability and investor trust.
Original Source: dabafinance.com
