Awards for Excellence country winners: Côte d’Ivoire

Societe Generale Côte d’Ivoire is again named the best bank in the country after a year in which profit before tax was up 32% at CFEFr120 billion ($42 million) from CFEFr91 billion in 2022. The bank has shown strong commitment to the Ivory Coast despite exiting other African markets such as the Republic of Congo, Equatorial Guinea, Mauritania and Chad. Indeed, Societe Generale deputy CEO of the group Pierre Palmieri visited Abidjan last year to reinforce this.

Net interest income has played a big role in its performance in the country, but the bank has held its position as the leading commercial bank, with a 20% market share of loans and 17% of deposits in July 2023, according to APB statistics. The bank’s common equity tier-1 ratio, at 15%, is well above regulatory requirements – a result of its capital strengthening strategy since 2018.

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