Société Générale de Côte d'Ivoire presented its financial statement for the 2020 financial year to its shareholders on April 13, 2021. The steering committee informs that the net banking income stood at 164 billion FCFA.

The subsidiary of Société Générale in Côte d'Ivoire has demonstrated excellent resilience in its results despite the major disruptions in global economic and financial activity in 2020 linked to the Covid-19 pandemic. The net banking income shows 164 billion CFA francs and the gross result is 83.33 billion CFA francs.
According to Marc GIUGNI, Director of Corporate Clients, Société Générale Côte d'Ivoire is posting good commercial performance, which is reflected in the increase in average outstanding loans (+11%) and average outstanding deposits (+16%) compared to the 2019 thus maintaining its leading position in the banking sector with market shares in Loans and Deposits of 18.7% and 17% respectively (statistics at 12/2020 communicated by APBEF-CI).
It notes that the Net Banking Income of Societe Generale Côte d'Ivoire increased by +9% compared to the previous financial year, supported by a growth of +16% in the net interest margin (increase noted on all the markets covered by the Bank and in line with the business pushes defined on Retail and SMEs coupled, moreover, with good control of refinancing costs) and good resistance of commissions and other income carried in particular by all service commissions (Accounts, Monetics, Remote Banking, means of payment, Trade...).
Company officials have also indicated that 2021 will be a new year of mobilization in the face of the uncertain evolution of the pandemic still active at the start of the year and whose economic and social impacts could be profound.