AFG Bank Cameroon has emerged as the third-largest bank in the country, achieving substantial financial growth, including CFA934 billion in deposits and a net profit of CFA23 billion as of January 31, 2025. The bank, a subsidiary of AFG Holding, has strengthened its capital base and ensures compliance with COBAC regulations, serving over 138,000 clients nationwide.
AFG Bank Cameroon, previously known as Banque Atlantique, has recently become the third-largest bank in Cameroon, following Afriland First Bank and Société Générale. As of January 31, 2025, the bank reported substantial financial metrics, including CFA934 billion in customer deposits, CFA568 billion in outstanding loans, and CFA500 billion in government securities, as stated by CEO Éric Valéry Zoa.
In 2023, AFG Bank enhanced its financial standing by raising its share capital from CFA23.8 billion to CFA28.8 billion. This move was instrumental in achieving a net profit of CFA23 billion for the year, which allowed the bank to distribute CFA13 billion in dividends to its shareholders. By the end of January 2024, the bank’s equity reached CFA80 billion, maintaining compliance with the regulatory standards established by the Central African Banking Commission (COBAC).
CEO Zoa emphasized the bank’s secure position, stating, “This solid position allows us to fully meet prudential requirements,” during the rebranding ceremony held on March 3 in Yaoundé. Currently, AFG Bank employs approximately 500 individuals across its various branches, contributing to their robust operational network.
AFG Bank Cameroon’s origins trace back to January 2008, when Ivorian entrepreneur Koné Dossongui completed the acquisition of Amity Bank Cameroon Plc. The sale received approval from COBAC in September 2008, culminating in the official establishment of Banque Atlantique Cameroon in June 2009. By 2023, the bank catered to over 138,000 active clients, consisting of both individuals and businesses, and operated 22 branches throughout the nation.
AFG Bank Cameroon has solidified its position as the third-largest bank in the country, showing significant financial growth and stability. With a history dating back to 2008 and a commitment to meeting regulatory requirements, the bank demonstrates valuable service to a wide client base. The increase in capital and profit highlights its promising future in the local banking sector.
Original Source: www.businessincameroon.com
