BOAD posts a net profit of XOF33.7 billion for the year ended 31 December 2022, representing an increase of 9.27% compared to 2021
Dakar, 31 March 2023. The Council of Ministers of the West African Monetary Union (WAMU) has approved BOAD’s accounts for the year ended 31 December 2022. The institution’s key figures have increased, thereby reflecting the continued consolidation of its performance. Net banking income, up by 8.66%, rose to XOF93.051 billion against XOF85.638 billion for the year 2021. In fact, BOAD recorded a net profit of XOF33.682 billion, against XOF30.824 billion as at the end of 2021, i.e. an increase of 9.27%. The profit thus generated will strengthen the institution’s equity.
The total balance sheet stood at XOF3,362.279 billion against XOF3,291.286 billion as at the end of the previous financial year. The Bank maintained a balanced financial structure throughout the year, with effective equity amounting to XOF1,063.256 billion and representing 31.62% of the total balance sheet.
Thanks to its international reputation, the Bank continues to enjoy the full confidence of its partners and investors because of its credit ratings. Its investment grade ratings (Baa1 and BBB) remained unchanged and had been confirmed by Moody’s and Fitch Ratings.
Such results attest to the sound financial position of the institution which, on the eve of its fiftieth anniversary, is fully committed to “building the future for the integration and economic transformation of West Africa”.
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