Malabo, June 12, 2019 - Orabank is pleased to announce it won the award for Best Regional Bank in West Africa at the African Banker Awards ceremony held by IC Publications Group on the sidelines of the African Development Bank (AfDB) General Assemblies on June 11, 2019, in Malabo, Equatorial Guinea. The Award aims to “pay tribute to the leaders who excel in banking and finance in Africa”. This is the third time the bank has been honoured with this award, after winning the prize in 2015 and 2017.
This distinction rewards an exceptional growth trend for the Lomé (Togo) based bank. Indeed, for 2018, Oragroup has a balance sheet total of 2,171 billion CFA francs (3.7 billion dollars), an increase of 21% compared to the previous year. Customer deposits for the Orabank network as a whole amounted to CFAF 1,462 billion and credit operations to CFAF 1,255 billion, an increase of respectively 24% and 16%. In total, the Group posted net banking income of CFAF 127 billion (USD 221 million, +17%) and consolidated net income up sharply by 36% to CFAF 29.8 billion (USD 51.9 million).
The award for best bank in West Africa also distinguishes Oragroup's listing on the Abidjan Regional Stock Exchange (BRVM), the largest IPO since the launch of the BRVM in 1998. The public offering was 100% subscribed, allowing to raise CFAF 56.92 billion (€86 million) on the regional financial market.
“Having just been appointed Chief Executive Officer of the Group, I am honoured to receive this award. All the credit goes to the teams led by Mrs Binta Toure Ndoye, whom I succeeded. They are the first architects of this success. It is now my responsibility to achieve the ambitious objectives we have set ourselves in our development plan for the coming years. We continue to be committed to serving the banking needs of individuals and businesses across the continent, whether through the implementation of innovative digital solutions or the deployment of new products,” said Ferdinand Ngon Kemoum, CEO of Orabank Group.
About Orabank Oragroup is present in 12 countries in West and Central Africa (Benin, Burkina Faso, Chad, Gabon, Guinea, Guinea Bissau, Ivory Coast, Mali, Mauritania, Niger, Senegal, and Togo) and four monetary zones (UEMOA, CEMAC, Guinea, and Mauritania). With 149 branches and 1,857 employees, Oragroup offers a wide range of banking products and service to its 430,000 customers (large companies, national and international companies, SMEs, and individuals) in line with its principles of localism and responsiveness.
Oragroup also focuses on populations who have little to no access to banking services, working toward financial inclusion through the use of innovative solutions. This commitment is reflected in its approach to CSR, an integral part of its strategy and a priority for its governing bodies, which is focused on energy transition, environmental and social risk management, and the well-being of the public and its employees.
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