BOA Burkina Faso Profit Declines Despite Revenue Jump
TLDR
- Bank of Africa-Burkina Faso reported net banking income of 14.2 billion FCFA ($24.6 million) in Q1 2025, up 2.3% from 13.9 billion FCFA ($24.1 million) a year earlier
- Despite revenue growth, net profit fell 16.6% to 5.2 billion FCFA ($9 million) compared to 6.2 billion FCFA ($10.7 million) in Q1 2024
- The bank noted operations took place "in a national context marked by government efforts to reclaim territory and improve the business climate."
Bank of Africa-Burkina Faso (BRVM: BOABF) reported net banking income of 14.2 billion FCFA ($24.6 million) in Q1 2025, up 2.3% from 13.9 billion FCFA ($24.1 million) a year earlier, driven by an 11.2% increase in banking margin.
Despite revenue growth, net profit fell 16.6% to 5.2 billion FCFA ($9 million) compared to 6.2 billion FCFA ($10.7 million) in Q1 2024. Pre-tax profit declined 18.9% to 6 billion FCFA ($10.4 million). The bank reported customer deposits of 809.9 billion FCFA ($1.4 billion) and customer loans of 553.7 billion FCFA ($959 million) as of March 31.
In its quarterly statement, the bank noted operations took place "in a national context marked by government efforts to reclaim territory and improve the business climate."
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Key Takeaways
Bank of Africa-Burkina Faso, part of Morocco's BMCE Group, continues operations amid Burkina Faso's complex security situation. The country has been battling an Islamist insurgency since 2015, with the military government that took power in 2022 focusing on territorial recovery. Despite security challenges, Burkina Faso's economy has shown resilience. The government's efforts to stabilize regions previously affected by insurgent activity have created pockets of improved business conditions, particularly in urban centers. The banking sector faces continued pressure from regional economic uncertainty and global inflation. However, Bank of Africa's modest revenue growth indicates stabilization in core banking operations despite higher costs impacting overall profitability. The BMCE Group operates across 18 African countries and has maintained its commitment to the Burkinabe market despite regional challenges, positioning itself to benefit from economic recovery efforts.
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