Finance

BGFIBank Proposes $20 Dividend per Share for 2023

BGFIBank Proposes $20 Dividend per Share for 2023
Monday, 06 May 2024 11:40

In a recent meeting held on April 26, 2024, the board of directors of the banking group BGFI Group proposed distributing a dividend of CFA11,000 per share for FY2023. This remuneration is slightly lower than the CFA15,850 per share distributed in 2022 but remains generous considering the macroeconomic context in which the group operated across its various markets. The company opted to strengthen its fundamentals, even with a surge in its net profit reaching CFA95.8 billion, a 55% increase in 2023 compared to 35% in 2022.

On the commercial front, customer deposit balances stand at CFA3,311 billion, up by 9% from 2022. The BGFI Bank Group has garnered the trust of its clients in all markets where it operates. Simultaneously, the Group continued supporting the financing of economies and significant projects for its clients in the various markets of operation.

In a challenging environment marked by inflation and economic growth slowdowns, the group increased its customer loan portfolio to CFA3,075 billion, reflecting a 4% rise from 2022. The Bank emphasizes its commitment to effectively adapting to regulatory constraints, organizational changes, legitimate client needs, offering innovative products and services, and maintaining robust risk management to achieve the CFA120 billion target in 2024.

On the same topic
Senegal Treasury urges insurers to increase investment in government securities Insurers provide under one-third of bank investment in state...
Tamini General Insurance has launched operations as Uganda’s first Islamic insurer. The company offers Takaful, a risk-sharing model aligned with...
Nigeria’s gross external reserves rose to $50.45 billion on Feb. 16, their highest level in 13 years. The reserve stock covers 9.68 months of...
Cameroon Treasury bill demand rises to 84.84% in January Rate surpasses CEMAC regional average of 69.04% Average yield falls to 6.87%, easing...
Most Read
01

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
02

Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...

Amazon Turns to Kenya as Its Next Low-Orbit Satellite Internet Bet in Africa
03

Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...

Algeria’s NESDA, ASICOM Sign SME Investment Deal; Funding Details Unspecified
04

DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...

DRC seeks ITC support to advance battery mineral value chains
05

Military escalation between Iran, Israel, and the United States has raised the risk of disruptions...

As Hormuz and Suez Tensions Escalate, Africa Faces a Potential Energy and Trade Shock
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

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


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.