Oragroup wins the " Bank of the Year 2019" award from The Banker for its operations in Burkina Faso, Guinea Bissau, Senegal and Togo
Presentation of the “The Banker Awards - Bank of the Year 2019” to the Oragroup delegation by the jury, London, 28 November.
Pan-African banking group Oragroupwon the “The Banker Awards – Bank of the Year 2019”for its operations in Burkina Faso, Guinea Bissau, Senegal and Togo. Awarded by the world’s premier banking and finance resource ‘The Banker’ (owned by the Financial Times) at the official ceremony held on 28 November 2019 in London, this prestigious prize recognises Oragroup's financial and managerial excellence as well as its accelerated growth trajectory. With over 500,000 customers, 152 branches and 1,857 employees, Oragroup was selected from among more than 1,000 establishments. It posted strong growth in 2018, with a balance sheet total of 2,171 billion CFA francs ($3.7 billion), up 21% on the previous year. Overall, Orabank network customer deposits amounted to 1,462 billion CFA francs and credit operations to 1,255 billion CFA francs, up 24% and 16%, respectively. In total, the Group posted net banking income of 126.77 billion CFA francs ($221 million, + 17%) with a sharp 36% increase in consolidated net income to 29.77 billion CFA francs ($51.9 million).
Another 2018 highlight was the success of Oragroup's sale of 20% of its share capital, which raised 56.92 billion CFA francs and paving the way for an initial public offering on the Regional Stock Exchange (BRVM) in April 2019, the largest transaction since BRVM's inception in 1998.
“It is a great honour to receive this award. Our performance and market share gains are built on a development strategy driven by the group's digital transformation, the expansion of the Orabank brand, the consolidation of our activities and the optimisation of our network to deliver performance in the service of our customers and create value for our shareholders,” says Mr. Ferdinand Ngon Kemoum, CEO of Oragroup.
“Orabank Togo's ambition is to support the development of Togo's economy and people by financing infrastructure that strengthens the country's economic integration and competitiveness, democratising access to investment and consumption and making banking services accessible through digital technology. Examples of this dynamic are the trading room in Lomé and the deployment of the KEAZ solution in Togo. The credit goes first and foremost to our people in the field who implement Oragroup's vision,” says Orabank Togo's Managing Director, Mr. Guy-Martial Awona.
“Oragroup's growth trajectory is accelerating as illustrated by these awards. Orabank Burkina Faso is proud to contribute to this pan-African success story and to Burkina Faso's emergence, by supporting its economic stakeholders and its daily commitment to inclusive and sustainable growth,” adds Mr. Martial Goeh-Akue, Managing Director, Orabank Burkina Faso.
Mr. Luc Morio, Managing Director of Orabank Senegal, continues, “Orabank Senegal winning this Bank of the Year award for the second consecutive year underscores, above all, the group's solid growth over the past 10 years. As we are always striving to improve our performance and the quality of our relationship with our customers, we are proud and happy with the progress we have made.”
“We are proud that an international benchmark publication like The Banker, a Financial Times company, has acknowledged Orabank Guinea Bissau's work and potential for growth over the year 2019. This is an incentive to intensify our efforts to speed up banking and financial inclusion in Guinea Bissau, through modern digital solutions and an approach that combines economic profitability with social impact,” concludes Orabank Guinea-Bissau Managing Director, Mr. Bilaly Diarra.
Oragroup's growth trajectory over the past 10 years has been exemplary, and it has expanded its presence in five West and Central African countries to a pan-African scale with subsidiaries in 12 countries in four monetary zones. Oragroup was presented the 2015 and 2017 African Banker Awards for “Best Regional Bank in West Africa”, while “The Banker Awards – Bank of the Year”was won previously by Burkina Faso in 2017 and 2018, and Togo and Senegal in 2018. The long-term A and short-term A2 investment ratings assigned by Bloomfield in May 2018 and August 2019 confirm the Group's solidity and performance.
Oragroup is present in 12 countries in West and Central Africa (Benin, Burkina Faso, Côte d'Ivoire, Chad, Gabon, Guinea Conakry, Guinea Bissau, Mali, Mauritania, Niger, Senegal, and Togo) and in four monetary zones (WAEMU, CEMAC, Guinea Conakry and Mauritania). With 152 banking branches and 1,857 employees, Oragroup offers more than 500,000 customers (large national and international companies, SMEs and individuals) a wide range of banking products and services based on the principles of being local and responsive.
By striving for financial inclusion through the deployment of innovative solutions, Oragroup focuses on previously neglected segments of the population. This commitment is reflected in its CSR policy, which is an integral part of its strategy and a priority for its management bodies, focusing on energy transition, environmental and social risk management, and the well-being of the public and its employees.
For more information, please visit www.orabank.net or LinkedIn, @Group Orabank on Twitter, Facebook, Instagram, and YouTube. Also explore KEAZ, Orabank Group's new digital platform.
Oragroup – Head of Communication
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