Ivorian Unit of SocGen Nets $148M in Third-Quarter Profit
TLDR
- Société Générale Côte d’Ivoire (SGCI) reported a 12% year-on-year increase in net profit to 83.3 billion CFA francs (about $147 million) for the third quarter of 2025
- The bank (BRVM: SGBC) said the results reaffirm its leading position in Côte d’Ivoire’s financial sector after a record performance in 2024
- SGCI retained its AAA rating from Bloomfield Investment Corporation and strengthened its market leadership with a 20% share in loans and 16% in deposits
Société Générale Côte d’Ivoire (SGCI) reported a 12% year-on-year increase in net profit to 83.3 billion CFA francs (about $147 million) for the third quarter of 2025, supported by tight cost control, digital transformation, and strong corporate lending activity.
The bank (BRVM: SGBC) said the results reaffirm its leading position in Côte d’Ivoire’s financial sector after a record performance in 2024.
Net banking income rose 2.5% to 200.9 billion CFA francs, while operating expenses fell 2.7% to 75.1 billion, improving efficiency. Gross operating income reached 125.9 billion CFA francs, up 5.9%, and pre-tax profit increased 10.9% to 103 billion. Customer deposits grew 13.9% to 2.94 trillion CFA francs, lifting the loan-to-deposit ratio to 84.6%. The cost of risk rose slightly by 1.4% to 26.3 billion, remaining under control.
SGCI retained its AAA rating from Bloomfield Investment Corporation and strengthened its market leadership with a 20% share in loans and 16% in deposits.
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Key Takeaways
Société Générale Côte d’Ivoire’s strong third-quarter results confirm its position as the market leader in Côte d’Ivoire’s competitive banking landscape. The bank’s disciplined cost management and successful digital investments supported profit growth despite modest revenue expansion. The sharp rise in deposits underscores growing customer confidence, while a stable loan book reflects prudent credit management amid macroeconomic uncertainty. The AAA credit rating and double-digit profitability highlight SGCI’s operational resilience and sound governance within the Société Générale Group. As the Ivorian economy continues to expand, the bank plans to deepen its digital footprint and consolidate market share through enhanced efficiency and risk-adjusted growth. CEO Patrick Blas said SGCI’s investments in digital transformation and cost optimization are “paying off,” pointing to continued profitability momentum heading into 2026. The performance reinforces the bank’s reputation as a benchmark for stability and innovation in the WAEMU financial system.
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