Dakar, March 31, 2023. The Council of Ministers of the West African Monetary Union (WAMU) has approved BOAD’s accounts for the year ended December 31, 2022. The company’s key figures are up, reflecting the ongoing consolidation of its performance. Net banking income, up 8.66%, rose to 93.051 billion FCFA from 85.638 billion FCFA for the 2021 financial year.
BOAD recorded a net profit of FCFA 33.682 billion, compared with FCFA 30.824 billion at the end of 2021, an increase of 9.27%. The resulting profit will strengthen the institution’s equity capital.
Total assets amounted to 3, ,362.279 billion FCFA, compared with 3, ,291.286 billion FCFA at the previous year-end. The Bank maintained a balanced financial structure throughout the year, with effective shareholders’ equity of FCFA 1, ,063.256 billion, representing 31.62% of the balance sheet total.
Backed by its international reputation, the Bank continues to enjoy the full confidence of its partners and investors, thanks to the quality of its rating. These ratings, Baa1 and BBB ( Investment Grade ), remain unchanged and have been confirmed by Moody’s and Fitch Ratings.
These results attest to the sound financial situation of the institution, which, on the eve of its fiftieth anniversary, is resolutely committed to ” , creator of the future “, for the integration and economic transformation of West Africa “.
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Email : boadsiege@boad.org