Bank credit supply grew 11.45% YoY in H1 2022 (official data)

The volume of new loans granted within the Cemac region increased by CFA350.2 billion year-on-year over the first six months of 2022. According to official data published by the Central Bank Beac, the overall volume stood at CFA3,407.8 billion at the end of June 2022, up 11.45% from CFA3,057.6 billion at the end of June 2021.

This substantial increase, Beac says, is owed to the resumption of activity in the post-pandemic period. “Real GDP growth is set at 3.2% in 2022, against 1.5% in 2021,” Beac notes.?

The volume of loans, 99.1% of which was granted by commercial banks, was captured at 43.13% by large companies (compared to 58% in H1?2021). Individuals followed with 27.18%, SMEs with 25.71%, other legal entities (0.01%), and finally public administrations and decentralized communities (3.97%).?