BOA CI FY15 commentary results
​Total balance sheet increased by 24% to stand at XOF 497.14 billion, after a 38% increase in 2014. This was mainly due to a significant progression in customer deposits and interbank liabilities that grew by XOF 27.1 billion (+10%) and XOF 88.14 billion (+53%) respectively.
Client deposits went up by 10% to stand at XOF 301.78 billion, mainly drawn by the growth in demand deposits (+14.93% to XOF 176.31 billion) and saving deposits accounts (+39.39% to XOF 39.02 billion).
Interbank liabilities grew by 53% to XOF 255.09 billion drawn by term deposits which rose by 53% to XOF 231.05 billion.
Loans to clients increased by 28.68% at XOF 258.98 billion after a 29.60% growth the year before. This growth is due to a significant part from a growth from customer credit facilities (+19.58% to XOF 197.52 billion), a growth from portfolio of discounted bills (XOF 23.17 billion in 2015 vs. XOF 5.96 billion in 2014), and overdraft (+27.14% to XOF 38.29 billion).
Net Banking Income increased by 1.41% to stand at XOF 25.27 billion (against a 48% growth in 2014). This low increase recorded in 2015 is notably explained by a 21.50% drop in Net Interest Income explained by a strong increase in interest charges (+18% to XOF 11.84 billion) when interests income only grew by 5.72% to XOF 15.55 billion.
Hudson is an integrated securities firm, member of the West Africa regional stock exchange (BRVM) that offers a large array of financial services including brokerage, custody, sell-side research, investment management, investment banking and advisory, issuer services. Hudson's African and International client base includes governments, financial institutions, high net worth individuals, and corporate from various industries.
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