Ecobank Cameroon's net profit increases by 51% in 2014

The performance of the Cameroon subsidiary of the Pan-African Bank were presented during its ordinary General Assembly held Friday, February 27, 2015 in Douala.

6 055 717 803 Cfa Francs, is the amount of the net obtained by Ecobank Cameroun company for the 2014fiscal year. The banking structure saves thus in its performance a significant increase from the previous year which showed a net profit of 4 billion 8 million at 31 December 2013, an increase of 51%.

Ecobank Cameroun ends the year with a total balance sheet of 439 488 million Cfa Francs, an increase of 14% from 2013. The indicators are also green for what is customer deposits which amounted at the end of the 2014 fiscal to approximately 355 1,859 million against 312 221 million in 2013 (up 14%).

These figures and many others were presented to the shareholders of the Pan-African Bank in the ordinary General Assembly held this Friday, February 27, 2015 in Douala. Shareholders giving discharge to the management of the directors and the Auditors of the company have also approved the allocation of such net income proposed by the Board of Directors.

Thus, on the 6 055 717 803 Cfa Francs achieved in 2014, 10%, or 605 571 780 Cfa Francs will go into the legal reserve while 450 146 023 Cfa Francs will be deferred again. The remaining 5 billion will be the dividends to be distributed to the shareholders, representing 50 000 CFA francs per share.

The proposal to renew for three years the mandate of Moustapha Fall at the post of administrative director general of Ecobank Cameroon was also accepted, just as the proposal to grant six years more to Price water house Coopers, the external auditor of the Cameroonian banking structure.

The shareholders also agreed that 70 million Cfa Francs are shared between the directors of overall annual compensation.

With these encouraging performance hailed by all the shareholders, Ecobank Cameroun, 4th in the ranking of the Cameroonian banks after Afriland First Bank, Bicec and the Société Générale Cameroun nourishes the ambition to be among the three best banks in the Cameroonian market at the end of fiscal year 2015.

It intends to rely on a qualified and motivated staff its customer service quality and the creation of value for its shareholders.