The Cape Verdean banks recorded a record aggregate profit of 6.1 billion escudos (55.3 million euros) in 2024, according to data from the central bank accessed today.
This figure represents a 16% increase from the previous year, as shown in the Banking System Indicators tables published by the Bank of Cape Verde (BCV), indicating stable return on equity performance, maintaining around 16%.
In other indicators, the sector’s solvency ratio grew slightly, reaching approximately 24%, remaining above the regulatory minimum of 11.25%.
Total credit granted by the banks increased by 5% to 158 billion escudos (1.4 billion euros), also a historic high, while non-performing loans rose 14% to 12 billion escudos (109 million euros)—with the ratio of non-performing loans to total credit climbing to 8%.
On the liquidity front, Cape Verdean banks concluded the last year with 280 billion escudos (2.5 billion euros) in deposits, a 7% increase from 2023.
According to the BCV, the sector consists of eight banks with generic authorization.
