AFG Bank Cameroon has emerged as the third-largest bank in the country as of January 2025, with substantial customer deposits and a strong financial performance. The bank increased its capital in 2023, reported a net profit, and maintained compliance with regulatory standards. With over 138,000 clients and 22 branches, AFG Bank is poised for continued growth.
AFG Bank Cameroon, formerly known as Banque Atlantique, has ascended to become the third-largest bank in the country, following Afriland First Bank and Société Générale. As of January 31, 2025, CEO Éric Valéry Zoa reported significant financial metrics: customer deposits amounting to CFA934 billion, outstanding loans of CFA568 billion, and CFA500 billion in government securities.
In 2023, AFG Bank Cameroon, a subsidiary of Ivorian financial group AFG Holding, bolstered its financial standing with an increase in share capital from CFA23.8 billion to CFA28.8 billion. The bank achieved a net profit of CFA23 billion for the year, allowing the distribution of CFA13 billion in dividends to its shareholders.
As of January 2024, AFG Bank Cameroon reported an equity of CFA80 billion, adhering to regulatory norms of the Central African Banking Commission (COBAC). “This solid position allows us to fully meet prudential requirements,” stated Zoa during an official rebranding event on March 3 in Yaoundé.
The bank currently employs 500 individuals across its branches and has a history rooted back to January 2008, when Ivorian businessman Koné Dossongui acquired Amity Bank Cameroon Plc. Following COBAC’s approval in September 2008, Banque Atlantique Cameroon was officially launched in June 2009.
Today, AFG Bank Cameroon serves over 138,000 active clients, comprising both individuals and businesses, with operations extended to 22 branches nationwide.
In summary, AFG Bank Cameroon has established itself as a formidable player in the nation’s banking sector, ranking as the third-largest bank. The organization has shown commendable growth through solid financial performance, increased capital, and adherence to regulatory standards. The bank’s evolution from a subsidiary to a major banking entity reflects its commitment to serving a diverse clientele across Cameroon.
Original Source: www.businessincameroon.com
