Coris Bank Net Profit Rises in Q1 After Mixed 2024 Performance
TLDR
- Coris Bank International (BRVM: CBIBF) posted net banking income of 28.7 billion CFA francs ($49.7 million) in the first quarter of 2025, up 2.8% compared to the same period last year
- Net income reached 17.6 billion CFA francs ($30.5 million) in Q1, showing a 5.9% increase on a rolling basis
- The bank's 2024 performance showed mixed results, with net banking income increasing 1.4% to 131 billion CFA francs ($226.9 million), while operating expenses rose 17.6%
Coris Bank International (BRVM: CBIBF) posted net banking income of 28.7 billion CFA francs ($49.7 million) in the first quarter of 2025, up 2.8% compared to the same period last year, following a challenging 2024. Net income reached 17.6 billion CFA francs ($30.5 million) in Q1, showing a 5.9% increase on a rolling basis. This comes after the bank reported a 25.4% decline in 2024 annual net profit to 47.9 billion CFA francs ($83 million) from 64.2 billion CFA francs in 2023.
The bank's 2024 performance showed mixed results, with net banking income increasing 1.4% to 131 billion CFA francs ($226.9 million), while operating expenses rose 17.6% to 42.8 billion CFA francs ($74.1 million). Risk costs surged 72.5% to 40.5 billion CFA francs ($70.1 million) due to portfolio cleanup actions.
Despite these challenges, customer deposits grew 14.8% to 1,754.5 billion CFA francs ($3.04 billion) in 2024, while net loans increased 3.7% to 1,258.9 billion CFA francs ($2.18 billion). The Burkina Faso-based bank maintained its leadership position in the national banking sector despite security and political challenges affecting economic activity.
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Key Takeaways
Coris Bank operates as one of West Africa's major regional banking groups with headquarters in Burkina Faso and operations across the West African Economic and Monetary Union region. The bank's 2024 results reflect broader economic trends in the region, where security concerns have hampered growth. The IMF forecasts stable global growth of 3.3% for 2025-2026, providing a potentially favorable backdrop for regional banking. CBI's strategic pivot toward portfolio quality improvement in 2024 appears to be bearing fruit in early 2025 results. The bank cites intensified commercial initiatives, recovery efforts, technological innovation, and risk management improvements as key drivers for future growth. The positive Q1 2025 performance suggests the bank's cleanup efforts may be creating a foundation for more sustainable growth, though regional security concerns remain a factor in the bank's operating environment.
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