Banking institutions in Cape Verde recorded a record aggregate profit of 6.1 billion escudos (55.3 million euros) in 2024, according to data from the central bank available to Lusa.
This figure represents a 16% increase compared to the previous year, as indicated by the Banking System Indicators tables published by the Bank of Cape Verde (BCV). These point to a stable return on equity, maintaining around 16%.
Regarding other indicators, the sector’s solvency ratio rose by a few tenths, reaching approximately 24%, remaining above the regulatory minimum of 11.25%.
The total credit granted by banks grew by 5% to 158 billion escudos (1.4 billion euros), also a historic high, while non-performing loans increased by 14% to 12 billion escudos (109 million euros). The ratio of non-performing loans to total credit increased to 8%.
In terms of liquidity, Cape Verdean banks closed the last year with 280 billion escudos (2.5 billion euros) in deposits, a 7% increase from 2023.
According to the BCV, the sector comprises eight banks with general authorization.
