Africa-Press – Cape verde. The international investment bank (iib), which has been present in Cape Verde since 2010, recorded in 2022 the best result in its history in the archipelago with profits of almost 4 million euros. The return on capital for the shareholder rose from 22% (in 2021) to 24% (2022).
This data was presented this Friday, 9th, during the “Business Breakfast iib”, an event held in one of the hotels in Praia and which was attended by several Cape Verdean stakeholders.
In an interview with A NAÇÃO online, Francisco Ferreira, CEO (Chief Executive Officer) of iib, said that the bank registered significant growth in 2022. that is, from 22% in 2021 to 24% in 2022.
The CEO of iib also points out that global data show that this bank continues to “consolidate” its position in Cape Verde, through growth, both in terms of “size” and in terms of “performance”, without being “forced to incorporate risk”.
Increase capital available to finance economy
Francisco Ferreira also highlighted that the bank’s result, after paying taxes, was practically 4 million euros. However, as he informed, this result, at the option of the shareholders and its General Meeting, will not be distributed in dividends, with the aim of increasing the capital available to finance the economy.
“This means that we are strengthening our capital and that we can do larger businesses and, therefore, we are once again positioning the strategic pieces to continue to grow and diversify our operation, with new businesses”, he explains.
Regarding the 2022 accounts, iib ended the year with a 22.5% growth in total assets, exceeding 333.5 million euros, while customer funds (deposits) grew by 18.7%, to almost 162 million euros, and equity grew by four million euros (25.3%) in one year, to 20.3 million euros.
Cape Verdean market challenges
Francisco Ferreira, is confident in the future of the company in the Cape Verdean market, assuring that it is an “ultra competitive” market. Because despite its small size, it has a “high number of players”, so the strategy involves “thinking outside the box” to bring in new ways of doing business and creating relationships.
Taking into account its sustainability and social responsibility, iib promises to continue to support the community in supporting those who share values and principles similar to those of the bank, not only through the application of funds, that is, as donations, but also by “allocating the capabilities” of human resources for the common good of Cape Verdean society.
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