2017 key financial figures
In CFA F billion
Consult our accounts
Exco FICAO and KPMG audited the consolidated financial statements for the fiscal year ending 31 December 2017 in accordance with the international financial reporting standards (IFRS). Reasonable assurance was achieved.
2017 key financial figures by region
Robust Treasury revenue growth
Overall, the major event of 2017 was the reorganisation of the Treasury function and the bolstering of its capacity to better manage market risk and to contribute to Group income:
- Change to the group’s organisation chart, not least formalisation of the Asset/Liability Management (ALM), Treasury Sales, and Correspondent Banking and Trading functions, and alignment of the subsidiary and branch organisation charts
- Strengthening of the Treasury teams and building of those teams’ capacities
- Opening of a trading room in Togo, with the aim, not just of optimising our capacities and revenues, but also of centralising the management of some exposures.
- In 2018, the trading room will also position us as a regional market maker for the foreign exchange, money and sovereign debt markets
- Treasury is on the front line of the day-to-day management of liquidity and market risk; management of these exposures clearly improved in 2017; in 2018, the “ALM Pro” project will enable automation of the market risk-management tools in place, through the implementation of a program already acquired by the group for that purpose
- In 2017, the number of lines of conformation (LC, SBLC and international guarantees) granted to the group and its subsidiaries by correspondent banks doubled; this enabled robust growth of our business financing international trade in the second half of the year.
Opening of a trading room in Togo
In December 2017, the Orabank group, with operations in 12 countries spread across four currency areas in West Africa and Central Africa, opened a regional and international trading room in Lomé, Togo. Since its foundation, the Orabank group has always had the desire and ambition to support its customers (personal and business), to actively contribute to financing the private sector, to optimise the mobilisation of local savings and to foment a genuine boom on African financial markets.