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Côte d'Ivoire: The banking market has reached a total balance sheet of $29 billion, according to Adama Coulibaly

19/01/2022
Categories: Index/Markets

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The Minister of Economy and Finance Adama Coulibaly, in a speech delivered on the occasion of the decoration ceremony for the members of the Professional Association of Banks and Financial Institutions of Côte d'Ivoire (APBEF-CI) revealed that the banking market grew by 15% in 2021, with a total balance sheet reaching $29 billion.

The government is counting on the support of banks to achieve its growth target estimated at 6.5% for 2021 and 7.1% for 2022. In Côte d'Ivoire, the banking sector recorded growth of 15% between 2020 and 2021 According to the official, the total balance sheet of the Ivorian banking sector reached 16,983 billion FCFA last year, or $29.3 billion, against 14,727 billion FCFA in 2020, or $25.4 billion. This situation coincides with an improvement in the country's macroeconomic performance, notably a recovery in growth from 2% in 2020, to an estimated 6.5% in 2021.

For the Ivorian authorities, this good performance is partly attributable to the Ivorian banks which supported the significant investments made, in particular, in the social sectors and in economic infrastructure over the period, by granting financing. According to the BCEAO, the extended banking rate (including adults holding accounts in banks, postal services, national savings banks and the Treasury, to which is added that of account holders in microfinance institutions ) of Côte d'Ivoire increased from 30.79% in 2019 to 32.56% in 2020.

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