Yaounde, Cameroon Africa. (Cameroon News) – Cameroon Banks – CEMAC Zone Banks Record Marked Progress. The 45 banks in the Central African Economic and Monetary Community (CEMAC) zone, have recorded a marked progress in their activities.
From October 2010 to October 2011, the balance sheet of licenced banks progressed from FCFA 6.982 billion to FCFA 8.914 billion, the activity report of the Central African Banking Commission (COBAC) states.
The Governor of the Bank of Central African States (BEAC), Lucas Abaga Nchama presented the report in Yaounde, Cameroon on Wednesday, February 8, 2012.
Mr Nchama said the amount the banks collected as deposits increased by 19.4 percent , meaning from FCFA 6.064 billion to FCFA 7.241 billion.
Loans accorded to customers also increased from FCFA 3.696 billion to FCFA 4.617 billion. The improvement in performance, he explained is because the banks are increasing conforming to banking rules in place.
In another press dinner in Yaounde at the BEAC headquarters, the same February 8, 2012, the bank’s Governor disclosed that it has recorded a positive balance sheet of FCFA 7.9 billion in 2010, which is a great leap from the FCFA 29.5 billion deficit of 2009.
He announced a new management plan for the bank code-named, “Reform and Modernization Plan, BEAC-Horizon 2013,” endorsed by the Board of Directors during its July 12, 2011 session.
The plan is aimed at reinforcing the bank’s accounting information system and budgetary management, put in place a viable internal audit and improve services offered financial institutions
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