By Yvan David Danisa] | April 2025 | AfrikanTrust
In a year marked by economic headwinds, inflationary pressures, and geopolitical unpredictability, the BGFIBank Group has delivered a standout performance that not only defies expectations but positions the pan-African banking powerhouse as a benchmark for financial stability and strategic ambition in the continent’s finance sector. With a staggering €198.17 million (FCFA 130 billion) in consolidated net Profit for the 2024 financial year, BGFIBank is sending a clear message: Africa’s financial institutions are no longer just regional players — they’re global contenders.
BGFIBank Group, headquartered in Libreville, Gabon, has long styled itself as a financial group for the future — rooted in Africa, but with global aspirations. With operations in twelve countries, including economic heavyweights like Côte d’Ivoire, Cameroon, and the Democratic Republic of Congo (DRC), and with a foothold in Europe via France, the Group’s performance in 2024 has validated its DYNAMICA 2025 strategic plan. This plan prioritizes robust capital investment, digital transformation, and geographic expansion across high-growth markets.
As of December 31, 2024, the group’s consolidated balance sheet stood at CFAF 5.951 trillion (€9.07 billion), marking a 12% increase year-on-year. Net income reached CFAF 710 billion (€1.08 billion), supported by a prudent dividend distribution policy and a strong capital adequacy ratio of 20% — well above regional benchmarks and international minimum requirements.
In a year that saw interest rate hikes from central banks across BGFIBank’s key markets, the group still managed to grow its net banking income by 10%, reaching CFAF 347 billion (€529 million). This was largely driven by a surge in intermediation margins and a 28% jump in service-based revenues — a reflection of growing client trust and transaction volumes across retail, corporate, and institutional banking.
Customer deposits rose 17% to CFAF 3.883 trillion (€5.91 billion), while credit disbursements grew to CFAF 3.562 trillion (€5.42 billion), cementing the bank’s role as a key financier of both savings and infrastructure development in the region. The bank’s loan-to-deposit coverage ratio of 109% further illustrates its operational prudence and liquidity strength.
Liquidity remains a standout: net liquidity rose to CFAF 767 billion (€1.17 billion), backed by successful fundraising activities and improved Asset and Liability Management (ALM) mechanisms.
The Gabonese market contributed 37% of the group’s 2024 profits, with Central Africa following at 35%, and West Africa, Europe, and the Indian Ocean region contributing the remaining 28%. These figures underscore the group’s diversification strategy, cushioning it against localized economic shocks and political instability — a common concern in many African markets.
Looking forward, BGFIBank plans to strengthen equity capital in its most dynamic subsidiaries, particularly in Gabon, Cameroon, Congo, Ivory Coast, and the DRC. These countries not only offer vibrant economies but also benefit from improving regulatory frameworks and rising demand for digital financial services.
The Board of Directors, chaired by Henri-Claude Oyima — a towering figure in African banking — has proposed a dividend of CFAF 12,500 (€19) per share, a 14% increase from the previous year, offering shareholders a solid 14% return.
One of the most significant announcements from the 2024 results review is the planned listing of 10% of BGFI Holding Corporation’s capital on the Central African Stock Exchange (BVMAC). This move, if approved at the Extraordinary General Meeting, could revolutionize regional capital markets and attract foreign institutional investors looking for exposure to Sub-Saharan Africa’s banking boom.
Listing on BVMAC — a stock exchange struggling with liquidity and investor confidence — would not only bolster the credibility of the regional market but also position BGFIBank as a pioneer in modernizing African capital ecosystems.
Despite the rosy outlook, BGFIBank faces its share of hurdles. Africa’s fragmented regulatory environment, political volatility in countries like the DRC and Central African Republic, and rising competition from fintech disruptors and pan-African rivals like Ecobank and UBA pose ongoing threats.
Furthermore, the group must navigate global economic uncertainties — from a volatile eurozone to tightening financial conditions worldwide. With Europe as a trade and funding partner for many of its host countries, any slowdown or inflationary spike in the EU could trickle into BGFIBank’s operations.
But the group appears prepared. Its digital transformation is underway, with investments in mobile banking platforms, cybersecurity, and AI-driven customer service solutions. It’s also expanding its green finance portfolio — a nod to the growing relevance of ESG (Environmental, Social, Governance) frameworks in global investment decisions.
BGFIBank’s 2024 performance signals a financial institution that has matured beyond regional ambitions. With billions in profits, increasing shareholder returns, and a clear vision for pan-African dominance, the group is on the cusp of entering the global financial conversation — not as an emerging player, but as a serious contender.
As it gears up for the final leg of the DYNAMICA 2025 plan and eyes public listing, BGFIBank’s trajectory offers a powerful case study in how African financial institutions can scale sustainably, deliver value, and reshape global perceptions about banking on the continent.
In the words of CEO Henri-Claude Oyima, “We are building a financial group for the world — powered by Africa, rooted in excellence.”
