BEAC names BICEC first loan provider in Cameroon

BUSINESS 17 Sep 2020
BEAC names BICEC first loan  provider in Cameroon

BY NDUMBE BELL GASTON

According to BEAC 2019 reports, the International Bank for Savings and Credit (BICEC) accorded the highest quantity of loans pumped into the Cameroonian economy.
BEAC states that the total figure registered from BICEC stands at FCFA 1578,53 billion which is said to be 34.32% of the total amount of the 15 major banks which is largely estimated at FCFA 4,600 billion this same period.
BEAC continued that in 2017, BICEC’s loans granted to the public summed up to FCFA 548 billion only.
This increase suggests a major shift in BICEC’s policy in becoming a major player as loan provider which is imperative to the smooth functioning of the economy. Their interest is also seen to be steadily growing for some time now.

Kamal MOKDAD, Managing Director BCP Group (Left) in handshake with Rochdi SANHAJI CEO of BICEC (Right), both celebrating success story.

Between 2017 and 2019, loans awarded by BICEC is reported to have tripled and BICEC is seen to be repositioning itself as a major financing source.
At the national level, BICEC is proud to register 800 employees, 37 branches and 380,000 customers.
However, following the results of studies carried out by JeuneAfrique Magazine, BICEC is at third position at the national level and ranked 162nd at the continental level. It is reported to have realised a 2019 balance sheet of over FCFA 726 billion and a net banking product of more than FCFA 50 billion.
As at October 2019, the Morrocan group, Banque Centrale Populaire (BCP) bought 68.5% shares which until then, BICEC was subsidiary of the French banking group, Banque Populaire et Caisse d’économie (BPCe) alongside the major player (BCP).
BICEC’s roots are more strengthened by this and more so BCP which is said to be controlling the capital of another banking group, Banque Atlantique, with a subsidiary in Cameroon, is spreading it’s influence across the national triangle.
BCP is reported to be operational in 29 countries across the globe with 15 in Africa alone. The Group is the continent’s sixth largest bank in terms of size of equity capital and among the first in terms of accumulated balance sheets.

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