The BICICI (Banque Internationale pour le Commerce et l'Industrie) of Côte d'Ivoire, local branch of the French group BNP Paribas, has recorded a rather mixed financial performance during the first semester 2015. In an increasingly competitive environment, its net banking income increased 1.1% to FCFA 18.5 billion compared to the first semester 2014.

Interest Margin increased by 1.5% and Commission Income remained more or less stable (+0.5%). "The BICICI is applying gratuity to 19 banking services required by the BCEAO since 1 January 2015" explained the bank in a communiqué addressed to the market.

BICICI has however had to face development in overhead costs (+4.8%) linked on one hand to the increase in personnel charges following a base pay rise, and on the other hand administrative costs following agency network densification. In these conditions, the gross operating income records a decrease of 5.5% at FCFA 6 billion compared to the 1st semester 2014.

The cost of risk progresses by FCFA 353 million over the period, but remains contained due to the quality of the portfolio. But in the end, the Net Revenue while being positive at FCFA 4.6 billion records a decrease of 12.3% compared to the same period in 2014. BICICI nevertheless remains confident, and estimates that "with sustained economic growth and the start of the next Coffee-Cocoa campaign, trends and performances in the first semester should improve for the end of the year".