in Short

Banks Oragroup announces 2018 results in strong progression

At the end of its Board of Directors, pan-African banking group Oragroup announces a strong improvement in its performance for the 2018 financial year. Oragroup has a balance sheet total of 2 171 billion CFA francs ($ 3.7 billion) , an increase of 21% compared to the previous year. Customer deposits for the entire Orabank network amounted to 1,462 billion CFA francs and lending operations to 1,255 billion CFA francs, an increase of 24% and 16% respectively. In total, the Group posted net banking income of 126.77 billion CFA francs ($ 221 million, + 17%) and consolidated net income up sharply by 36% to 29.77 billion CFA francs (51%). $ 9 million).

“These strong growth results reinforce our development strategy based on the transformation of the group, the deployment of the Orabank brand, the consolidation of our activities and the optimization of our network to generate performance for our customers and create value in our markets, “explains Binta Touré Ndoye, Group Chief Executive Officer.

In 10 years, Orabank has grown from a presence in five countries in West and Central Africa to a pan-African dimension with subsidiaries in 12 countries spread over four currency areas. “I am proud of this trajectory and performance achieved by all employees. In 2018, Oragroup, which celebrated its 10th anniversary with the acquisition of pan-African investor Emerging Capital Partners in 2008 and its 30th year of banking activity, has accumulated new leeway to accelerate its development, “explains Binta Touré Ndoye, who has been in office since July 2016 as General Manager after having been Deputy Chief Executive Officer since September 2015.

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