Caisses et guichets de l'Agence Zone 4 à Abidjan.
Counter and cash desk at The Zone 4 Branch, in Abidjan. © BOA
L'équipe de l'Agence Zone 4 à Abidjan.
Zone 4 Branch team, in Abidjan. © BOA
Au vu du bénéfice de 2 400 millions de F CFA, les
membres du Conseil d'Administration proposent aux
actionnaires le versement d'un dividende de 25 %
du nouveau capital social, soit 1 125 millions de
F CFA, et le report en réserve du reliquat. Ces
résultats concrétisent les efforts soutenus de tous les
collaborateurs de la Banque qu'il convient de féliciter
et de remercier.
Un hommage appuyé doit également être rendu
aux actionnaires pour le soutien qu'ils apportent à
la Banque.
Operating expenses
totalled CFAF 12.9 billion, up 32.8 % from the previous fiscal year. This
growth is a result of a 53.7% increase in treasury expenses and the cost of funds combined
with a 12.5% increase in personnel costs and general expenses.
The cost of funds
came to CFAF 7.1 billion, compared to CFAF 4.7 billion in 2007, a rise of
51% in expenses on treasury and interbank transactions. The latter rose sharply in 2008
due to the high level of syndicated credit in the BOA Group backed up by interbank lending.
Overheads
including personnel costs reached CFAF 5 billion in 2008. They were slightly over
forecast figures as a result of a rise in tax on loans and corporate communication costs.
Provisions and exceptional expenses
reached CFAF 4 billion, a rise of 32% in 2008, due to
a 29% increase in provisions for doubtful and litigious debts recommended by the Banking
Commission during the fiscal year.
Despite this relatively important depreciation,
net income after tax
reached CFAF 2.4
billion, an increase of 12,4% compared to 2007.
The satisfactory results obtained in 2008 confirm that the main objectives of the three-year
development plan will be reached in 2009.
The objectives are as follows:
strong growth in profitability;
increase in the Bank's market share;
reinforcing the Bank's reputation by continuing to provide good customer service;
improving the quality of the portfolio;
strong participation in Group efforts via good quality consortium loans.
These goals can only be achieved by expanding the network, developing new products,
increasing local commercial activities and maintaining good credit risk management in an
uncertain economic and financial climate.
In light of a CFAF 2,400 million profit, the Board proposes to pay shareholders a 25%
dividend of the new share capital, i.e. CFAF 1,125 million, and to transfer the remainder to
reserves. These results reflect the hard work of all the Bank's personnel to whom we should
like to extend our congratulations and thanks.
Our shareholders deserve our special thanks for the support shown to the Bank.
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