• Bank of Africa proposes 1.091 billion dirham capital increase via bonus shares
• Board also suggests higher dividend of 5 dirhams per share
• Strong 2025 results driven by income growth, lending, digital expansion

Bank of Africa’s board met on Friday, March 27, and proposed a capital increase of 1.091 billion dirhams ($116.5 million). The proposal will be submitted for shareholder approval at the next extraordinary general meeting.

The capital increase will not involve a cash injection. Instead, part of the group’s reserves will be converted into share capital through the issuance of bonus shares. The board also proposed a gross dividend of 5 dirhams per share, up from 4 dirhams a year earlier.

Strong financial performance in 2025

The proposals follow robust financial results. In 2025, net income attributable to shareholders rose 11% to 3.8 billion dirhams. Net banking income reached 20.3 billion dirhams, up 9%, driven by growth in interest margins, fees and trading income.

Shareholders’ equity increased 9% to 32 billion dirhams, while the cost-to-income ratio improved to 45.8% from 46.4%. Loans rose 5% to 233 billion dirhams and deposits increased 7% to 275 billion dirhams.

The group is also advancing its digital transformation, with 93% of basic transactions now carried out through digital channels and online consumer lending up 177%.

Operating in 32 countries, the bank aims to build on this momentum to strengthen its position in Africa and pursue further expansion. According to press reports, the group is preparing to expand its network across the continent, from Djibouti to Dakar, with two new branches planned in the CEMAC region.

Sandrine Gaingne