AFG Bank Cameroon, formerly Banque Atlantique, is now the country’s third-largest bank, with significant financial growth including CFA934 billion in deposits and CFA568 billion in loans. In 2023, the bank raised its capital to CFA28.8 billion and reported a net profit of CFA23 billion. It serves over 138,000 clients and operates 22 branches across Cameroon.
AFG Bank Cameroon, previously known as Banque Atlantique, has ascended to become the third-largest bank in Cameroon, following Afriland First Bank and Société Générale. As of January 31, 2025, the bank’s financial statements reported customer deposits totaling CFA934 billion, outstanding loans of CFA568 billion, and CFA500 billion in government securities, as stated by CEO Éric Valéry Zoa.
In 2023, this Ivorian financial group subsidiary raised its share capital from CFA23.8 billion to CFA28.8 billion, enhancing its financial stability. The bank recorded a net profit of CFA23 billion during that year, enabling the distribution of CFA13 billion in dividends to shareholders.
As of January 2024, AFG Bank Cameroon’s equity reached CFA80 billion, demonstrating compliance with the Central African Banking Commission’s regulatory standards. “This solid position allows us to fully meet prudential requirements,” remarked Zoa during the rebranding ceremony on March 3 in Yaoundé.
The bank employs approximately 500 individuals nationwide and has developed a substantial client base, serving over 138,000 active clients, including individuals and businesses. AFG Bank Cameroon commenced operations in January 2008, following the acquisition of Amity Bank Cameroon Plc by Ivorian businessman Koné Dossongui, which received approval from COBAC in September 2008, leading to the formal launch of Banque Atlantique Cameroon in June 2009.
Additionally, AFG Bank Cameroon operates a network of 22 branches across the country, enhancing its presence in the financial sector.
AFG Bank Cameroon has achieved remarkable growth, becoming the third-largest bank in the nation with significant financial performance, including robust customer deposits and loan figures. The bank’s strategic enhancement of its capital and compliance with regulatory standards underscore its solid position in the market. Established in 2008 and now serving over 138,000 clients, AFG Bank continues to strengthen its operations throughout Cameroon.
Original Source: www.businessincameroon.com
