Société Ivoirienne de Banque reported first-half net income of CFA32.1 billion, an increase of 9% from CFA29.4 billion a year earlier. Net banking income rose 4% to CFA56.6 billion. The Côte d’Ivoire lender also recorded a sharp reduction in its cost of risk.
Cost of risk fell to CFA287 million from CFA1.16 billion in the comparable period, according to Sika Finance and Agence Ecofin. The lower charge helped lift operating profit to CFA36.1 billion, Sika Finance reported. Gross operating income rose 6% to CFA36.6 billion in the six months ended 30 June 2026.
LOWER CREDIT COSTS LIFTED THE BOTTOM LINE
Cost of risk fell by about 75%, according to Agence Ecofin. Net income rose 9%, more than twice the 4% increase in net banking income.
Customer loans rose 12% to CFA1,169 billion and customer deposits rose 12% to CFA1,581 billion. Total assets reached about CFA1,968 billion at end-June, up 5% from end-2025, and SIB said its solvency ratio remained well above the 11.5% regulatory minimum.
SECOND-HALF OUTLOOK
SIB said it would continue executing its strategic plan in the second half, in a regional environment it described as broadly supportive, barring major external shocks.