(Ecofin Agency) - Société Ivoirienne de Banque (SIB), subsidiary of Moroccan group Attijariwafa bank, announced it has recorded a CFA22.5 million net profit during the 2017 budget year which ended last December. The feat is 25.2% higher than the forecasted net margin announced to investors in the briefing note released during its introduction in WAEMU’s Regional Stock Exchange (BRVM).

SIB achieved this strong performance thanks to a significant improvement in all segments’ revenues, including customer loans, commissions and above all, leasing activities. Likewise, the margins on securities investments could also improve.

The bank focused on investments in financial securities and its assets under management rose by nearly CFA32 billion. As far as the outstanding customer loans are concerned, they increased by CFA 26.5 billion during the period under review.

Investors are pleased with this achievement and the value of SIB’s share continues to improve on BRVM. It goes from a 6% loss in value last Feb. 16 to only 1.2% at the close of trading on March 13, 2018. This is  a 4.8% increase in less than a month.

Idriss Linge