SIB H118
In the second half of the year, the bank stated they will learn from the Safcacao case and adapt its policy as well as its commitment in the 2018-2019 cocoa campaign. In our opinion, this situation should lower the level of loans the bank used to
allocate for the cocoa sector. Therefore, it would have an adverse impact on the business activity in the second semester of 2018. The company expects the 2018 year-end results should be lower compared to 2017.
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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