Finance

Côte d’Ivoire: Societe Generale’s net profit rose in Q1 2020, despite covid-19

Wednesday, 06 May 2020 18:06
Côte d’Ivoire: Societe Generale’s net profit rose in Q1 2020, despite covid-19

(Ecofin Agency) - Over the first quarter this year, the Ivorian arm of Societe Generale achieved a net profit after tax of CFA14.1 billion. The leader of the Ivorian banking sector and the WAEMU space has thus achieved its best Q1 profit since 2016, despite the coronavirus pandemic. Performance is also up 41.4% compared to the same period last year.

The company said its result was spurred by the good progression of the net banking income and the good management of the general spending and the cost of risk for the bank. The CFA40 billion net banking income achieved in Q1 2020 is the highest Q1 result since 2016 and the strongest growth on an annual comparison basis. The Bank announces that its interest margin increased by 32% and that fee income was up 8% vs. Q1 2019, driven in particular by service fees.

Let’s note that taken as a whole, the banking sector listed on the Abidjan Regional Stock Exchange performed well during the first quarter of 2020. Overall net banking income reached CFA197.8 billion, up by 8.6% compared to that of 2019, and cumulative net income for the period was CFA56.5 billion, up by 8.2%.

Idriss Linge



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.