Business in Cameroon | In 2017, the total assets of banks in Cameroon reached CFA5,308 billion, the International Monetary Fund (IMF) revealed in its October 2018 report on the country’s economy. This represents 26.8% of GDP (40% of CEMAC’s banking system), compared with 23.1% of GDP in 2010.
The 4 largest banks (Afriland First Bank, Société Générale, Bicec, Ecobank) accounted for 59.2% of total assets. In addition, Yaoundé and Douala, the country’s two largest cities, generated about 90% of total loans and bank deposits.
Out of a total of 14 banks identified last year, the nine foreign-owned banks had assets valued at CFA3,422 billion, the three domestic private banks represented CFA1,376 billion while the two state-owned banks accounted for CFA271 billion in assets.
However, the IMF says, banks remain profitable. Indeed, liquidity conditions have improved since mid-2017 thanks to the easing of the government’s liquidity constraint after budget support were disbursed.
The refinancing of the Bank of Central African States (Beac) fell to CFA72 billion at the end of 2017, an improvement on the high demand for liquidity which had reached the ceiling (CFA200 billion) over much of the first half of 2017.