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Banking and Finance: Ivorian Bank SIB Announces Impressive H1 2024 Results With Net Profit Soaring 6% to CFA 25,6 Billion.

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Despite a competitive environment, Ivorian Bank SIB demonstrated resilience by posting growing performance indicators compared to the first quarter of 2023.

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Société Ivoirienne de Banque (SIB) , reported a net profit of CFA 25,6 billion for the First half of 2024.This marks a 6% increase compared to the same period in 2023.Based on total assets and deposits, SIB is the seventh largest Bank in the West African Economic and Monetary Union.Its performance is attributed to a 10% rise in operating income, estimated at Cfa 31 billion.Known in the french acronym as Société Ivoirienne de Banque, SIB generated significant income from its day -to-day activities and operations during the first half of 2024. SIB also maintained a stable risk profile under control. Its net profit income,reached approximately Cfa 50 billion on June 2024, an increase of 7% from the same period in 2023. SIB also maintained it's commercial growth, increasing its customers loans by 8% : from Cfa 998 billion on June 30 ,2023 to Cfa 1,082 billion by June 30,2024 . Ivorian Bank SIB aims to strengthen its position in the Ivorian banking system in the second half of 2024  withstanding challenging economic conditions, by answering  the growing need of it's customers,  and upgrading service quality .                                                                                   

 

 

Christelle Koambi 

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