2023-10-19 10:03:49
The Caisse des Dépôts et Consignations du Bénin (CDC Benin) has made public its annual activity report for 2022. According to this report, we note an improvement in the performance of the fund. From 794,882 million FCFA at the end of December 2021, the consolidated balance sheet of the fund stood at 855,768 million FCFA or 60,886 million FCFA.
Bidossessi WANOU
The Caisse des Dépôts et Consignations du Bénin (CDC Bénin), a major financial institution in Benin, closed the 2022 financial year with solid results, demonstrating an impressive consolidation of its balance sheet. The figures reveal significant growth in its assets and equity, with prudent management of financial liabilities. At the end of the 2022 financial year, the total balance sheet of CDC-Benin strengthened remarkably to reach 855,768 million FCFA. This represents an increase of 60,886 million FCFA compared to the end of 2021, where the balance sheet stood at 794,882 million FCFA. On the asset side, the assets held by CDC Benin amount to 738,816 million FCFA, distributed as follows: Cash: 89,587 million FCFA, term deposits: 241,610 million FCFA. Bond securities net of amortizations amount to 369,673 million FCFA. As for mutual funds, it came to 19,820 million FCFA compared to 5,374 million FCFA of shares. CDC Benin represents 12,752 million FCFA in receivables as of December 31, 2022. The fund’s equity amounted to 103,002 million FCFA, made up of the following elements: Paid-up capital and reserves: 86,935 million FCFA FCFA, revaluation difference of financial instruments: 1,131 million FCFA, excess of income over expenses for the current financial year: 14,935 million FCFA. Financial liabilities, on the other hand, total 752,767 million FCFA, mainly made up of debts to partners, reaching 732,408 million FCFA, including 584,805 million FCFA towards the National Social Security Fund (CNSS). At the end of 2022, CDC Benin has also subscribed to important commitments. Commitments received amount to 210,700 million FCFA, mainly in the form of guarantees obtained from local Bank Holdings. These guarantees cover all operations and thus strengthen the financial sector’s confidence in the institution. As for the commitments given, they amount to 93,006 million FCFA, including 92,850 million FCFA on investment operations and 156 million FCFA on public contracts currently being executed. This solid financial performance of the Caisse des Dépôts et Consignations du Bénin underlines its stability and its contribution to the economic development of Benin. The institution continues to play a vital role in the country’s financial sector and is committed to maintaining its growth while maintaining responsible management of its resources and commitments. The results for 2022 reflect prudent management and a long-term vision which suggest a promising future for CDC Benin in the Beninese economic landscape. At the end of 2022, the operation of CDC Benin generated a net profit of fourteen thousand nine hundred and thirty-five (14,935) million FCFA compared to eight thousand seven hundred and forty-one (8,741) million FCFA at the end of 2022. same period of the year 2021, representing a performance in terms of results of 6,194 million FCFA (+71%). This surplus result recorded at the end of the second full financial year of CDC Benin comes from the offset effect of net income (17,001 million FCFA) and operating expenses (2,049 million FCFA). Ultimately, as of December 31, 2022, the operation of CDC Benin generated a net profit of fourteen thousand nine hundred and thirty-five (14,935) million FCFA compared to eight thousand seven hundred and forty-one (8,741) million of FCFA during the same period of the year 2021, representing a performance in terms of results of 6,194 million FCFA (+71%).
Good liquidity of CDC Benin
“As of December 31, 2022, the LCR and NSFR ratios are well beyond the regulatory threshold of 100%, and confirm the strong liquidity position of CDC Benin both in the short term (30 days) and in the long term (1 year and over)”. This is what emerges from the 2022 report published by the CDC Benin. We note that despite the numerous commitments which relate to a total of eighteen (18) projects valued at more than 192 billion, according to the update of the activities of the supervisory commission in 2022, the CDC Benin maintains better capacities which are generally used to assess the coverage of liquidity risk, namely: the Short-Term liquidity ratio (Liquidity Coverage Ratio-LCR-) and that of long-term liquidity (Net Stable Fund Ratio -NSFR-) of the Fund.
QA October 19,
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