Profit decrease despite revenue growth

NSIA Banque Côte d’Ivoire reported a profit of 14.5 billion CFA francs (24.7 million USD) for the first half of 2026, representing an 11 percent decrease compared to the previous year. The bank's net banking income, equivalent to revenue generated from its operations, increased by 6 percent, reaching 53.7 billion CFA francs (91.5 million USD).

Rising risk costs impact profitability

Net profit, however, decreased due to a higher risk-related cost. The net risk cost reached 6.5 billion CFA francs, compared to 4.2 billion CFA francs a year earlier. This item includes provisions made to cover credit risks and operational risks, reduced by recoveries, as well as losses on uncollectible debts.

Reasons for increased risk costs

The bank explained this increase by a thorough review of its credit portfolio and the strengthening of coverage for certain outstanding balances. The bank's statement, however, does not provide a rate of non-performing loans. Therefore, it alone does not allow the measurement of the evolution of the quality of all loans.

Operating profit still rises

Before considering risk, the activity remains better oriented. The interest margin increases, supported notably by income from the securities portfolio. Fees collected from banking services change little. Management fees increase slightly faster than revenue, but this does not prevent operating profit from rising by 5 percent, to 22.8 billion CFA francs.

Profit growth reversed in second quarter

The semi-annual balance sheet thus marks a change compared to the beginning of the year. In its May publication, NSIA Banque Côte d’Ivoire announced a significant increase in profit for the first quarter. The cumulative figures as of June show that this dynamic did not continue throughout the semester.

Customer deposits and commitments decline

From the customer perspective, deposits remain significantly higher than their level in June 2025, with a 15 percent increase compared to the previous year. They have, however, slightly decreased since December. Customer commitments have also decreased since the end of 2025. The bank mainly attributes this movement to the resolution of campaign advances, financings associated with the business cycle.

New initiatives for business clients

The institution indicates that it continues to develop its services for businesses. Among the initiatives of the semester, it mentions the launch, with the Interprofessional Fund for Agricultural Research and Advisory, of a financing window aimed at agricultural SMEs and agro-industrial companies.