• BGFIBank: An African bank for the world
  • BGFIBank: An African bank for the world

BGFIBank: An African bank for the world

After presenting its 2016 financial year, more than positive, the first pan-African bank in the CEMAC zone brought together its senior executives to reflect on the challenges ahead. BGFIBank, as the leading player in the banking sector in Africa, is innovating through a new model.

By Dounia Ben Mohamed, Libreville

 

A busy week for the BGFIBank group: A week of meetings for the top management, the general assembly marked by the presentation of the 2016 financial year and the announcement of  prospects for 2017 … Given its 2016 successful performance, BGFIBank does not intend to rely on its winners and is already setting the stage for future development. “The stakes of tomorrow’s bank”, which was precisely the theme of the great annual mass of senior executives held from 15 to 19 May 2017 at the Radisson Blue Hotel in Libreville. A first meeting of such a magnitude in Gabon which is a tradition within the group. Under a new name and format: the former annual top management Convention was renamed ‘BGFI CEO Meeting’ to bring a new impetus. More interactive, the meeting gives the various Managing Directors the opportunity to submit their grievances and think and contribute to the future of the group. “An African bank for the world”, according to its new leitmotiv

“The meeting has three objectives: fostering better ownership of the Group’s strategic goals; developing synergy of the Group; strengthening commitment and collective responsibility, as recalled by the CEO in his opening speech. BGFIBank has been supporting its customers in their personal and professional projects for 45 years by offering innovative and reliable products and services tailored to meet their needs. This constant concern to meet our customers’ needs has allowed us to acquire a unique expertise, while evolving gradually. From a mono-business bank in Gabon, we have evolved over the years into a global, multi-trade and multi-country financial group, through hard work and innovation. Our Group shines in Africa and beyond, and has thus become a benchmark in the international banking environment. If our successful performance is measured according to our bottom-up activities, then – and we mention that modestly – our success was great. Our successful performance is first and foremost the result of the quality and constant efforts of each and efforts of all. The proof is thus given to us, if necessary, that there is no wealth but men, and that each of you is one of the most valuable assets of BGFIBank.”

A net profit of more than CFA 39 billion in 2016 

This was the focus of  the meeting whereby about forty Managing Directors and senior officials discussed, debated and made proposals throughout the week, through round tables on 9 prior-defined themes: the behavioral impact of the leader on company governance; the management of human resources and the management of competence breach risk; the Group synergy to test the management of BGFIBank model and the roles and responsibilities of the leaders in governance; new regulatory and operational challenges as well as risk management as part of changes in banking regulations; information security systems (ISS) and cyber security; the challenges and prospects of digitization and finally, the Doing Business in BGFILand …

Starting year 2017 under the best auspices and accelerating the implementation of the Group’s roadmap: Excellence 2020. Already, with more than 2,000 employees, branches in 11 countries, the financial group with 100% private capital, leader in the CEMAC zone, ended the 2016financial year with a net profit of more than CFA 39 billion, or an increase of 31% in absolute value. It is a successful performance given the economic crisis marked by the decline in commodity prices, with almost zero growth in CEMAC zone, a proof of resilience. This successful performance is also the result of its diversification-based model. “A geographic diversification, a diversification in the area of trades as well,” said the CEO. Our ambition is clear: build an African financial group for the world,” which requires risk management. 

A new contingency plan 

Last February, BGFIBank was hit by a cyber-attack resulting in a loss of CFA 1.9 billion, “instead of CFA 9 billion, said Henri-Claude Oyima to the shareholders at the general assembly, because our control mechanism worked well and helped limit losses. As such, a new five-area contingency plan was developed: strengthening the internal control system; strengthening information system security governance; strengthening the overhead management mechanism; strengthening the credit risk management system; strengthening the human resources management system for better protection from competence breach risks, with the same objective: “ensure the Group’s performance and sustainability”.

 

 

 


 

Author: DBM // Photo: BGFIBank CEO Meeting © BGFIBank

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