(Business in Cameroon) – The Banque Internationale d’Epargne et de CrÃ©dit du Cameroun (Bicec), a local branch of the French BPCE, is presented in a recent report from the Beac as the first granting of bank credit in the last 6 months of 2018.
According to the document, Bicec alone controlled 36.66% of the market share; followed by SociÃ©tÃ© GÃ©nÃ©rale du Cameroun (21.43%). Together, the two subsidiaries granted 58.09% of the loan amount. The Commercial Bank Cameroon (SCB), a subsidiary of Attijariwafa, and Commercial Bank Cameroon (CBC), which saw their market share increase over the period, respectively granted 9.34% and 9.03% of credit.
“Afriland First Bank and Ecobank Cameroon, which were the main credit providers during the first half of 2018, provided only 6.18% and 3.39%, respectively, in H2 2018” Beac noted.
In general, all financial institutions operating in Cameroon received 517,486 credit applications (402,690 overdraft files and 106,468 amortizable loans) for a total of XAF 2,887.75 billion in H2 2018. The amount is down 14.3% compared to the previous semester. which amounted to XAF 3,372.11 billion. In addition, the credit demand for the whole of 2018, XAF 6,260 billion, is 7.11% lower than in 2017, when credit applications amounted to XAF 6,739 billion.
Note that banks are the main donors in Cameroon, providing 99.2% of funds.