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UBA Cameroon: net result increased by CFA 540 million in the first half of 2016

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UBA Cameroon

UBA Cameroon

As at June 2016, the Cameroonian subsidiary of the Nigerian banking group UBA had a net result of 706 million Naira (FCfa 1.343 billion), against 419 million Naira (FCfa 797 million) over the same period in 2015. Thus an increase of more than FCfa 540 million, according to the consolidated financial statements published by the group.

At the same time, these official documents reveal that this bank saw an increase in the deposits made by its clients, which peaked at FCfa 218.7 billion as at 30 June 2016, a rise of FCfa 72 billion compared to the FCfa 146.4 billion taken in at end June 2015.

This dramatic increase in client deposits enabled UBA Cameroon to offer more financial support to its clients. Indeed, over the period under consideration, client loans reached FCfa 102.7 billion, against FCfa 70.3 billion; thus an increase of more than FCfa 30 billion.

Also read: Gaëlle Enganamouit Becomes Brand Ambassador for Western Union.
These client credits will register a significant progression during this 3rd quarter 2016, with the recent loan of FCfa 24.4 billion granted to the State of Cameroon, to finance its share in the project for the construction of a 60,000-seat stadium in Olembe, in the suburbs of Yaoundé, in the run-up to the 2019 African Cup of Nations.

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Passionate Cameroonian blogger, Critical Writer, Web developer and IT consultant at LechTech Web Design Agency (lechtech.net). CEO, founder and Editor-in-Chief at Camer infoline.

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