CEMAC: with 67.9% of bank loans, four banks in Cameroon dominate the credit market at the end of March 2022

(Business in Cameroon) – In the CEMAC zone, a community space made up of six states (Cameroon, Congo, Gabon, Chad, CAR and Equatorial Guinea), credit institutions based in Cameroon largely dominated the bank credit market in the first quarter 2022 This is Afriland First Bank, whose capital is controlled by the Cameroonian billionaire Paul Kammogne Fokam; SCB Cameroon, local branch of the Moroccan group Attijariwafa Bank; Société Générale Cameroun, the Cameroonian branch of the French group of the same name; and Bicec, a subsidiary of the Moroccan Banque centrale populaire (BCP).

Specifically, in the first three months of the current year, “Afriland First Bank, in second place in the fourth quarter of 2021, occupies in first place with 19.88% of the total amount of loans granted, against 18.38% at the end of the year 2021. SCB Cameroon, which finished third in the fourth quarter of 2021, picked up 46 points to take the second position with 18.31% of the shares. General Company Cameroon, which dominated the credit market in the last quarter of 2021, fell 53 points to third place; it has only 16.16% of the market share. Actions Bicec’s market share remained stable at 13.06%“, Details the Beac, the issuing institution common to the six CEMAC countries, which has just published the report on”the evolution of the borrowing rates applied by credit institutions in the CEMAC“.

Furthermore, despite this clear dominance of the credit market in CEMAC, between January and March 2022, the dynamism in terms of financing of the economies observed in the banks established in Cameroon weakened slightly, quarter on quarter. In fact, the data of the central bank reveal, “the total amount of loans granted by the Cameroonian banking system amounted FCFA 1,013.3 billion versus FCFA 1,185.9 billion in Q4 2021, down 14.55%“.

Over the same period, the credit supply in Cameroon remains dominated by banks, which concentrate 98.78% of the total loans registered, against 1.22% for financial institutions“, Continues the Beac, which thus reveals the undisputed reign of Cameroon banks over the financial system of CEMAC. This reality is all the more understandable since with a network of 18 recognized banks, Cameroon, which also hosts 40% of Cemac’s industrial fabric, according to various official data, alone owns almost 50% of the community’s banking network.

Brice R. Mbodiam

Read also:

10-10-2022 – Bank loans: in Cameroon at the end of March 2022 only the interest rates paid to SMEs (Beac) increased

07-10-2022 – Bank lending: Cameroon and Chad have practiced the lowest interest rates of the CEMAC in the 1st quarter of 2022

06-10-2022 – CEMAC: bank loans to SMEs exceed 20% in the first quarter of 2022 (Beac)

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