Cote d’Ivoire: Securities Income, Fee Growth Drive 53 Percent Rise in Nsia Banque Q1 Profit

NSIA Banque Côte d’Ivoire, the Abidjan-based lender and banking arm of the NSIA Group, delivered the strongest profit growth of any large bank in the WAEMU zone reporting this quarter, with net profit jumping 53% to 10.9 billion FCFA ($19.5 million) — a result driven primarily by securities income and commission growth rather than traditional loan-driven interest.

Net banking income rose 28% to 28.6 billion FCFA ($51.1 million), with management pointing to higher revenues from securities…