(Ecofin Agency) - NSIA Banque Côte d’Ivoire saw solid results in the first half of 2024, strengthening its position in the Ivorian financial market. A key highlight was the reduction in non-performing loans, which dropped by 39%, from CFA9 billion in December 2023 to CFA5.5 billion as of June 30, 2024. This decrease reflects proactive risk management and effective debt recovery, improving asset quality and enhancing financial stability.

The reduction in bad loans positively impacted the bank’s profitability, with net risk costs falling by 27% year-on-year. As a result, net profit reached CFA14.5 billion, marking a 27.4% increase compared to the same period in 2023. This was driven by a 10.3% rise in Net Banking Income (NBI) to CFA45.7 billion, supported by a 46.7% increase in commissions, which offset a slight decline in interest margins.

NSIA Banque CI also attracted more customer deposits, which grew by 7% to CFA1,511.4 billion. This increase, along with a 6% rise in customer loans, contributed to a 6% growth in the bank's total assets, now standing at CFA2,159 billion—double what it was in 2018. These figures highlight the renewed confidence of customers and the bank's ability to effectively mobilize resources.

The first half of 2024 marks a period for NSIA Banque CI, which combined risk management with a balanced growth strategy. The reduction in non-performing loans, alongside the growth in deposits and improved net profit, positions the bank for continued growth in the coming months. NSIA Banque CI shows that proactive management and a customer-focused strategy are key to growth and strengthening its market position in Côte d’Ivoire.