At the end of its ordinary general meeting held on April 29, 2021, the Board of Directors of Coris Holding chaired by Idrissa Nassa, presented to the Shareholders the situation of the banking group as of December 31, 2020. At the level of all the banks of the Group, the consolidated net income reached 63.2 billion FCFA, up 20.8% compared to the previous year. As for the total of the consolidated balance sheet, it jumped by 43.4% to stand at 3,599.8 billion FCFA as of December 31, 2020. This is reflected in a significant strengthening of financial solidity with shareholders’ equity of 249.5 billion FCFA, up 15%.
The commercial dynamism, the diversification of offers with a focus on digital products and the good control of risks have made it possible to bring the Net Banking Product (NBI) to 152 billion FCFA, up 32%. In a context marked by uncertainty, aggravated by the persistence of the security crisis in the Sahel, the subsidiaries of the Coris Group in Burkina Faso, Côte d’Ivoire, Mali, Togo, Senegal, Benin and Niger have shown to be resilient overall during 2020, thanks to the mitigation measures taken as part of the implementation of the specific Covid-19 Business Continuity Plans and the relays identified to support the activities.
In this pandemic situation accentuated by the persistence of the security crisis in the Sahel, the subsidiaries of the Coris Group in Burkina Faso, Côte d’Ivoire, Mali, Togo, Senegal, Benin and Niger have shown themselves to be globally resilient to the during 2020, thanks to the mitigation measures taken as part of the implementation of the specific Covid-19 Business Continuity Plans and the relays identified to support the activities. At the end of the 2020 financial year, almost all of the banking subsidiaries maintained or even strengthened their market shares and their positions by positioning themselves in the Top 10 of the ranking of banks in their respective markets. CBI SA remains the leader in Burkina Faso with 23% market share. “All Group entities comply with all the prudential ratios enacted by the Central Bank”, indicates the Group.
On the strength of these results, which confirm its financial solidity, Coris is continuing its expansion. The year 2021 will see full coverage of the WAEMU zone with the opening of the Coris Bank International Senegal branch in Guinea Bissau in addition to the operationalization of its exit outside the WAEMU zone with the effective opening of the Guinea Conakry subsidiary. . In addition to these future locations currently being implemented, other expansion opportunities in accordance with the strategic development plan will be exploited with the aim of further strengthening the Group’s reputation and image internationally.
