AFG Bank Cameroon becomes country’s third-largest bank ⁰

AFG Bank Cameroon, formerly known as Banque Atlantique, is now the country’s third-largest bank, trailing only Afriland First Bank and Société Générale. As of January 31, 2025, the bank reported strong financial figures, including CFA934 billion in customer deposits, CFA568 billion in outstanding loans, and CFA500 billion in government securities, according to CEO Éric Valéry Zoa.

A subsidiary of Ivorian financial group AFG Holding, the bank strengthened its financial position in 2023 by increasing its share capital from CFA23.8 billion to CFA28.8 billion. That same year, it posted a net profit of CFA23 billion, enabling it to distribute CFA13 billion in dividends to shareholders.

By the end of January 2024, AFG Bank Cameroon’s equity stood at CFA80 billion, ensuring compliance with regulatory standards set by the Central African Banking Commission (COBAC). “This solid position allows us to fully meet prudential requirements,” said Zoa at an official rebranding ceremony held on March 3 in Yaoundé.

The bank employs 500 people across its network. AFG Bank Cameroon’s history dates back to January 2008, when Ivorian businessman Koné Dossongui, founder of AFG Holding, acquired Amity Bank Cameroon Plc. The sale was approved by COBAC in September 2008, leading to the official launch of Banque Atlantique Cameroon in June 2009.

As of 2023, the bank serves over 138,000 active clients, both individuals and businesses, and operates 22 branches nationwide.

Source: Business in Cameroon