AFG Bank Cameroon has become the third-largest bank in the country, reporting CFA934 billion in customer deposits. The bank increased its share capital in 2023 and posted a net profit of CFA23 billion. It currently has CFA80 billion in equity and serves over 138,000 clients with 22 branches nationwide.
AFG Bank Cameroon, previously known as Banque Atlantique, has emerged as the third-largest bank in Cameroon, following Afriland First Bank and Société Générale. As of January 31, 2025, the bank has reported significant financial metrics, including customer deposits totaling CFA934 billion, outstanding loans at CFA568 billion, and CFA500 billion in government securities, as stated by CEO Éric Valéry Zoa.
The bank, which is a subsidiary of Ivorian financial group AFG Holding, fortified its financial standing in 2023 by increasing its share capital from CFA23.8 billion to CFA28.8 billion. In the same year, AFG Bank recorded a net profit of CFA23 billion, allowing it to allocate CFA13 billion in dividends to shareholders.
By January 2024, AFG Bank Cameroon’s equity reached CFA80 billion, aligning with the regulatory requirements established by the Central African Banking Commission (COBAC). CEO Zoa highlighted, “This solid position allows us to fully meet prudential requirements,” during the rebranding ceremony on March 3 in Yaoundé.
Employing 500 individuals across its operations, AFG Bank’s origins trace back to January 2008 when Ivorian businessman Koné Dossongui purchased Amity Bank Cameroon Plc. This acquisition received approval from COBAC in September 2008, preceding the official launch of Banque Atlantique Cameroon in June 2009.
As of 2023, the bank caters to over 138,000 active clients, including individuals and businesses, and maintains 22 branches across the nation.
AFG Bank Cameroon, a leading financial institution, has solidified its position as the third-largest bank in the country through considerable financial growth and prudent management practices. With a significant increase in share capital and a robust equity position, the bank is set to continue serving a growing client base and meeting regulatory demands effectively. Its historical foundation and ongoing commitment to customer service further enhance its market presence and reputation.
Original Source: www.businessincameroon.com
