Credit institutions made a profit of 61.2 billion CFA francs in 2020 according to the National Credit Council (CNC) of Senegal. These figures were presented at the ^33rd meeting held last week, by videoconference, under the chairmanship of Moussa Touré, Director of Money and Credit (DMC), member of the Monetary Policy Committee (CPM) , representing the Minister of Finance and Budget, Statutory Chairman of the Council.

With a total balance sheet which increased by 823 billion FCFA (+10.7%) to settle at 8,605 billion FCFA in 2020, credit institutions achieved a net profit of 61.2 billion FCFA. “Compared to the year 2019, the balance sheet total of credit institutions increased by 823 billion FCFA (+ 10.7%) to stand at 8,605 billion FCFA. The net profit came out at 61.2 billion FCFA”, indicates the National Credit Council. Analyzing the situation of microfinance institutions at the end of June 2021, the members of the CNC noted the "rebound in activity, with an increase, year-on-year, of 64 billion FCFA (+ 16.28%) in loans established at 457 billion FCFA”. This change is mainly driven by the significant decline in outstanding loans that benefited from payment deadline extensions.