Afriland First Bank, the financial services group founded by Cameroonian businessman Paul Fokam, has crossed a milestone that few lenders in Central Africa have reached. The Yaounde-based bank reported total assets of CFA2.032 trillion 3.6 billion at the end of 2024, pushing it past the CFA2 trillion mark for the first time and reflecting its position in the region.
The asset base rose 9.3 percent from a year earlier, according to the banks latest figures. Earnings moved in the same direction. Net income climbed to CFA28.59 billion 50.75 million, while net banking income increased to CFA126.22 billion 224.07 million, reflecting stronger activity across its core businesses.
Much of that growth came from customers. Deposits increased 10.1 percent to CFA1,562.35 billion, or roughly 2.77 billion, pointing to rising confidence among households and companies at a time when many economies in the region are facing tighter conditions. Lending, by contrast, edged down slightly. Outstanding loans slipped 1.7 percent to CFA1,220.03 billion 2.16 billion, a move the bank says reflects a cautious approach to credit and closer attention to risk.
