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Net Profit of BDEAC down by 10%

The Development Bank of Central African States (BDEAC) recorded a profit of 3.8 billion FCFA in 2023, compared to 4.146 billion FCFA in 2022. The general meeting of shareholders, which met at the beginning of months, insisted on the continuation of reforms and investments.

The balance sheet for the 2023 financial year of the community financial institution, although positive, is down compared to the previous years 2022 (4.146 billion FCFA) and 2021 (5.754 billion FCFA). This net result reflects the difficult context marked by the economic slowdown, the scarcity of resources on the markets and the negative impacts of multifaceted exogenous crises, the BDEAC tried to justify.

The bank had previously decided to increase its share capital from 1200 billion FCFA to 1500 billion FCFA, as well as the level of paid-up capital from 10% to 25%. These preventive measures made it possible, according to it, to cushion the shock and contribute to the increase in its equity. “ The BDEAC continued the implementation of its “Azobé 2023-2027” Strategic Plan through activities to mobilize and diversify resources, make new commitments, structural and operational reforms as well as strengthen cooperation. with players in the financial sector ,” specifies the bank.

The community financial institution will have to improve its governance, through the acceleration of work to redeploy its accounting to IFRS standards and the effective start of work relating to financial rating. It intends to position itself as a modern bank serving the development of the sub-region. For this, the BDEAC decided to renew the mandate of the Mazars Cameroon auditors for a period of three years, in particular for the monitoring and closing of the accounts for the 2024, 2025 and 2026 financial years.