AFG Bank Cameroon Ascends to Third-Largest Bank Status

AFG Bank Cameroon has become the third-largest bank in Cameroon, with strong financial results as of January 31, 2025, including CFA934 billion in deposits and CFA568 billion in loans. The bank increased its share capital in 2023 and posted a net profit, indicating robust growth. It serves over 138,000 clients and has a total of 22 branches nationwide.

AFG Bank Cameroon, which was formerly known as Banque Atlantique, has recently emerged as the country’s third-largest bank, ranking just behind Afriland First Bank and Société Générale. As of January 31, 2025, the bank has reported robust financial figures, specifically CFA934 billion in customer deposits, CFA568 billion in outstanding loans, and CFA500 billion in government securities, according to CEO Éric Valéry Zoa.

In 2023, as a subsidiary of Ivorian financial group AFG Holding, AFG Bank Cameroon enhanced its financial standing by increasing its share capital from CFA23.8 billion to CFA28.8 billion. The bank realized a net profit of CFA23 billion, allowing it to distribute CFA13 billion in dividends to its shareholders.

By the end of January 2024, the equity of AFG Bank Cameroon reached CFA80 billion, thus fulfilling the regulatory requirements established by the Central African Banking Commission (COBAC). “This solid position allows us to fully meet prudential requirements,” CEO Zoa emphasized during the rebranding ceremony held on March 3 in Yaoundé.

With a workforce of 500 employees, AFG Bank Cameroon has a rich history dating back to January 2008, when Ivorian businessman Koné Dossongui acquired Amity Bank Cameroon Plc, with the sale approved by COBAC in September 2008. The official launch of Banque Atlantique Cameroon occurred in June 2009.

As of 2023, the bank caters to over 138,000 active clients, which include both individuals and businesses, and maintains a network of 22 branches throughout the nation.

AFG Bank Cameroon has solidified its position as the third-largest bank in the country due to impressive financial growth and a commitment to meeting regulatory standards. The rebranding from Banque Atlantique represents a significant milestone, showcasing its strong equity and ongoing customer engagement. With over 138,000 clients and expanding operations, AFG Bank demonstrates a promising future within the Cameroonian banking landscape.

Original Source: www.businessincameroon.com