The general report of Beac’s auditors (Bank of Central African States) shows a positive result. The 2016 financial year report was published Wednesday May 3 on the institution’s website, showing a net profit of XAF 164.177 billion (about USD 273 million).
Compared to the previous year, this result increased by XAF 4 billion (XAF 160.7 billion in 2015). On the other hand, this year's total balance sheet is down, with XAF 7073 billion against XAF 9389.691 billion in 2015.
It should be noted that Beac’s accounts must be approved by the board of directors, then ratified by the ministerial committee of the Central African Monetary Union (Umac).
"We certify that Beac’s accounts as of December 31, 2016, are consistent with the accounting principles and methods (...) and give a true and fair view of the assets and liabilities of the operations of the past financial year" the auditors conclude.
Source: adapted from the article “La BEAC engrange un résultat bénéficiaire”, Financial Afrik www.financialafrik.com