Oragroup held its ordinary general meeting on Monday in Lomé to approve the financial statements for the year ended December 31, 2019.
Oragroup posted excellent results, with a total balance sheet at 2,634.3 billion FCFA, an increase of 22% compared to the previous year, the bank said in a press release.
Customer deposits for the entire network amounted to 1,822.5 billion and receivables from customers to 1,366.2, an increase of 25% and 13% respectively.
In total, the Group posted net banking income of 146.9 billion CFA francs (+ 16%) and consolidated net profit, up sharply by 47% to 18.3 billion CFA francs.
The year 2019 marked a real turning point for Oragroup, thanks in particular to its entry on April 16, 2019 at the Regional Stock Exchange of Securities (BRVM), during the first listing ceremony in Lomé.
This IPO – the most important since the creation of the BRVM in 1998 – constitutes both the culmination of work carried out for 10 years but also and above all an incentive to continue in the same direction. Market confidence confirmed the solidity of the Oragroup model and the Group’s growth potential.
With its IPO of 20% of the capital, Oragroup wanted to accelerate its growth trajectory, which is confirmed today by very strong 2019 results. By jointly carrying out a capital increase and a sale of shares, Oragroup had then devoted its regional roots and its attractiveness to actively contribute to the development of the regional financial market.
Oragroup is present in 12 countries in West and Central Africa and in four currency areas (UEMOA, CEMAC, Guinea Conakry, Mauritania).
The bank has 157 branches and a client portfolio valued at 500,000 (companies and individuals).
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