17.5% INCREASE IN BANK LENDING SUPPLY IN WAEMU : Orishas-finance

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17.5% INCREASE IN BANK LENDING SUPPLY IN WAEMU

31/07/2019

Source : APS

Categories: Sectors

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17.5% INCREASE IN BANK LENDING SUPPLY IN WAEMU

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Dakar, Jul 31 (APS) - The supply of bank loans in the West African Economic and Monetary Union (UEMOA) recorded an increase of 17.5% in 2018, reaching 14,849.1 billion, against 12,633.2 billion in 2017, says a new BCEAO report.

The increases concern export credits (+201.0%), equipment (+28.7%), consumption (+27.8%) and cash (+13.9%).

''On the other hand, loans for housing fell by 14.3%. Almost 2/3 of the credits granted are intended for cash (63%) followed by consumption (13%)'', notes the report on the conditions of banks in WAEMU-2018.

The amount of new credits increased everywhere, except in Benin. “The increase is noted in Guinea-Bissau (+43.9%), in Senegal (+33.9%), in Côte d'Ivoire (+18.9%), in Niger (+11.8% ), Mali (+9.8%), Togo (+5.9%) and Burkina (+4.8%). On the other hand, new loans set up contracted by 1.9% in Benin.''

The report indicates that “depending on the nature of the beneficiaries, the volume of loans granted in the Union increased in 2018 for States and similar bodies (+40.6%), individual companies (+19.1%) and individuals (+8.1%)''.

The publication mentions a decline of 3.5% in the amount of deposits for the financial customers of banks. ''The structure of loans according to customer category indicates the predominance of loans to private companies (53.8%), in connection with the importance of cash loans. Loans to individuals represent 14.0% of the amounts granted in 2018.''

For the duration of bank overdrafts, short-term loans were "the most important" in 2018. "Indeed, the share of loans whose maturity is equal to or less than two years stood at 75.3% against 74.6% recorded the previous year. However, it is noted that the upward momentum of long-term loans (more than 5 years) is maintained, the share of which stood at 12.3% of loans in 2018, against 14.0% in 2017 and only 7.1% three years ago.''

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