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with a market share which was already “between 22 and 23%” in 2013, according to Jean Philippe Guillaume, then Managing Director of the company.

But generally, for several months now, the banks established in Cameroon have been granting more and more loans to businesses and individuals. From this point of view, one can recall that at the end of one of its meetings on 6 July 2015, the Monetary and Financial Committee of Cameroon revealed an increase in “the interior credit of 15.1%, from XAF 2,017.1 billion to XAF 2,322.1 billion in March 2015, due to the increase in domestic lending”.

This increase in the level of contribution from the banks to the economy is because, as Lucas Abaga Nchama, Governor of the BEAC revealed in August 2015 in Ebebeyin, Equatorial Guinea, “since January 2010, the lending rate went from 5% to 2.45%, to make loans more affordable in the CEMAC sub-region”, which includes Cameroon.

Moreover, despite the trend observed on the banking loan market for some months now, the banks’ coffers remain full, as proven by the figures from SG Cameroun (who had a net profit of XAF 4.8 billion in 2014), whose credit-deposit ratio was at 97% as at end 2015. Indeed, at that time, the outstanding deposits peaked at EUR 943 million, or XAF 617.6 billion, with a net banking income of EUR 81 million, slightly over XAF 53 billion. 

Source: Business in Cameroon www.businessincameroon.com