BOA Niger reports strong profit growth

BOA Niger has reported a significant increase in net profit for the first nine months of 2026, reaching 6.29 billion CFA francs (10.6 million dollars), compared to 2.84 billion CFA francs a year earlier, representing an increase of 121.88 percent. This growth is attributed to a reduction in general expenses and risk costs, although revenue growth remains more moderate. Net banking income, the bank's main revenue indicator, rose by 7.9 percent to 16.86 billion CFA francs.

Cost reductions drive performance

The improvement in performance is linked to less costly resources and a 6.18 percent decrease in general expenses to 8.37 billion CFA francs. The combination of additional revenues and reduced expenses has driven the gross operating profit to 7.87 billion CFA francs, an increase of 32.74 percent. Risk costs have also declined by 23.21 percent to 1.98 billion CFA francs, attributed to more effective recovery of non-performing loans and more prudent risk management.

Taxes and profit gap narrow

Before taxes, the result increased by 90 percent to 6.41 billion CFA francs. The difference between the pre-tax result and net profit has decreased from 539 million to 120.5 million CFA francs, representing approximately 12 percent of the increase in profit. This decrease explains part of the gap between the two growth rates, although the report does not specify the tax origin.

Recovery after a tough year

The recovery follows a particularly difficult fiscal year in 2025, during which BOA Niger ended the year with only 409 million CFA francs of profit, compared to 5 billion in 2024. In its annual activity report, the bank reported an additional exceptional provision of 4.8 billion CFA francs aimed at cleaning up its assets. Its board of directors also mentioned exceptional tax costs and depreciations on non-operational assets.

Early signs of recovery

The recovery was already noticeable in the first half of 2026, with a profit increase of 43 percent. Revenues have accelerated since then, with net banking income for the third quarter alone increasing by about 18.2 percent year-on-year. However, the last quarter will remain decisive, as the profit reported by September 30 in 2025 was largely absorbed at year-end. Current results indicate a recovery, but do not yet allow the annual profit to be established or conclude a decrease in the rates offered to customers.