AFG Bank Cameroon, now the third-largest bank in the country, reports CFA934 billion in customer deposits and CFA568 billion in loans as of January 2025. It has increased its share capital and profit significantly in 2023, serving over 138,000 clients with 22 branches across Cameroon. CEO Éric Valéry Zoa emphasizes the bank’s solid position and adherence to regulatory standards.
AFG Bank Cameroon has recently emerged as the nation’s third-largest financial institution, following Afriland First Bank and Société Générale. As of January 31, 2025, the bank has reported customer deposits amounting to CFA934 billion, outstanding loans of CFA568 billion, and CFA500 billion in government securities, as announced by CEO Éric Valéry Zoa.
This bank, a subsidiary of the Ivorian financial group AFG Holding, has notably strengthened its financial status in 2023. It increased its share capital from CFA23.8 billion to CFA28.8 billion, resulting in a net profit of CFA23 billion, and subsequently distributing CFA13 billion in dividends to its shareholders.
By January 2024, AFG Bank Cameroon ensured compliance with regulatory requirements set by the Central African Banking Commission (COBAC) with an equity standing of CFA80 billion. During an official rebranding ceremony on March 3, Zoa emphasized, “This solid position allows us to fully meet prudential requirements.”
Established in January 2008 when Ivorian businessman Koné Dossongui acquired Amity Bank Cameroon Plc, the bank was officially launched as Banque Atlantique Cameroon in June 2009 following COBAC’s approval. Currently, AFG Bank Cameroon serves over 138,000 active clients, both individual and corporate, and operates 22 branches across the nation.
AFG Bank Cameroon has solidified its status as the third-largest bank in the country, following a significant increase in its financial metrics and shareholder dividends. With strong compliance with regulatory standards and a growing client base, the bank is poised for continued growth and stability in the future. The strategic leadership of CEO Éric Valéry Zoa reflects a commitment to enhancing the bank’s financial health and service offerings in the Cameroonian market.
Original Source: www.businessincameroon.com
