Finance

BOA Burkina Faso’s net result gradually decreased in 2020

BOA Burkina Faso’s net result gradually decreased in 2020
Monday, 15 March 2021 15:01

Bank of Africa’s subsidiary in Burkina Faso ended FY2020 with a net profit of CFA17.6 billion (€26.8 million), down 4.8% compared to 2019.

This poor performance contrasts with the resilience that the bank showed during the first three quarters of 2020. BOA Burkina Faso's net profit was up 22% at the end of the first six months of last year. At the end of September, it was still up by 5.7%. This continued deterioration in profitability has not yet been explained, as the company has not commented on its results. But it can be noted that its cost of risk reached CFA5.2 billion at the end of 2019, 160% compared to 2019.

Although this is the first time BOA Burkina Faso's net profit has been down since 2016, investors will be keeping an eye out for other more positive indicators. During the period under review, the banking group’s net banking income reached CFA47.3 billion, 10.9% YoY.

This is the strongest increase for this indicator since 2016, according to the bank's financial performance history. Also, despite the slight decline in its profit, its managers proposed to maintain a generous dividend policy. With this performance, BOA Burkina Faso should continue to be one of the most traded stocks in the banking sector listed on the Abidjan Regional Securities Exchange (BRVM).

BOA Burkina Faso, however, will need to give more details on the reasons for this increase in its cost of risk and the outlook for FY2021.

Idriss Linge

On the same topic
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector could grow to $20 bln annually and create 20 mln...
• BRICS plans a guarantee fund to reduce political and financial risks in developing countries.• The fund will be managed by the New Development Bank...
BEAC granted Afreximbank the first-ever foreign access to the CEMAC public securities market. Cameroon raised $359.3 million via a...
(EBID) - The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) held its 92nd Ordinary Session on June 30, 2025. The Board...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
03

• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...

Burkina Faso: Vista Group Acquires Controlling Stake in Société Générale
04

Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...

Côte d’Ivoire’s Fuel Price Cuts Haven’t Slashed Transport Costs–Yet
05

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
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

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

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.