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Bank of Africa-Niger Profit Drops 50% Amid Sanctions

Daba Finance/Bank of Africa-Niger Profit Drops 50% Amid Sanctions
AFRICAN STOCKS AND FINANCEMay 6, 2025 at 11:21 AM UTC

TLDR

  • Bank of Africa-Niger (BRVM: BOAN) reported a 50.2% decline in net profit to 1.14 billion FCFA ($1.97 million) in Q1 2025
  • The bank cited "negative effects of sanctions from community institutions imposed on Niger" and suspended development aid
  • Net banking income fell 16.3% to 4.78 billion FCFA ($8.28 million), reflecting lower loan volumes and increased interbank resource costs

Bank of Africa-Niger (BRVM: BOAN) reported a 50.2% decline in net profit to 1.14 billion FCFA ($1.97 million) in Q1 2025, down from 2.29 billion FCFA ($3.96 million) a year earlier. Net banking income fell 16.3% to 4.78 billion FCFA ($8.28 million), reflecting lower loan volumes and increased interbank resource costs. Operating income dropped 38% to 1.69 billion FCFA ($2.93 million).

The bank cited "negative effects of sanctions from community institutions imposed on Niger" and suspended development aid as key factors disrupting normal operations. These political developments have significantly affected the banking sector.

General expenses rose 3.4% to 3.09 billion FCFA ($5.35 million), with an operating ratio of 64.7%. Risk costs increased by 52.7% as the bank undertook portfolio cleanup efforts. Pre-tax profit decreased 48.5% to 1.26 billion FCFA ($2.18 million) compared to Q1 2024.

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Key Takeaways

Bank of Africa-Niger, part of Morocco's BMCE Group, operates in one of West Africa's most challenging markets following the July 2023 military coup that triggered regional sanctions from ECOWAS and international aid suspensions. Niger's banking sector has struggled with liquidity constraints and economic contraction since the coup. The country's GDP growth has stalled, with the IMF projecting negative growth for 2025 as sanctions continue to limit foreign investment and trade. The BMCE Group operates in 18 African countries but faces particular challenges in Niger where political isolation has disrupted normal banking activities. Despite these headwinds, the bank remains one of the few international financial institutions maintaining operations in the country, though with significantly reduced profitability.

Stocks
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BOA Niger
Bank of Africa
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BRVM
Emerging Markets

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