AFG Bank Gabon, a subsidiary of Atlantic Financial Group, reported a significant financial uplift in 2025, with its net profit soaring by 30% to 31.25 billion XOF, up from 24.01 billion XOF in the previous year.

This robust performance was revealed at the bank's annual general meeting on May 26, 2026.

The bank's total assets saw a substantial increase of 37%, reaching 1,419 billion XOF from 1,039 billion XOF, driven primarily by a 32% surge in customer deposits, which hit 684 billion XOF.

Customer deposit growth was particularly strong in the large corporate segment, rising by 43%, while retail deposits also grew by a respectable 14%, and gross loans to customers expanded by 29% to 659 billion XOF.

Corporate lending, notably directed towards real economy and government infrastructure projects, increased by 39%, reflecting the transitional government's efforts to maintain public investment.

Retail lending saw a more modest 10% growth, with the overall loan-to-deposit ratio standing at 96.32%.

The bank's net banking income registered an impressive 35.19% increase, reaching nearly 92 billion XOF.

This was powered by a 40% rise in net interest margin to 50.5 billion XOF and a 33.2% increase in net commissions to 40.13 billion XOF.

Digital channels played a crucial role in fee income growth, with mobile banking and bancassurance commissions climbing by 12.46%.

Off-balance-sheet customer commitments also grew by 18% to 297 billion XOF, indicative of a recovery in foreign trade activity.

AFG Bank Gabon demonstrated solid operating discipline throughout the year. Despite a 13.7% rise in general expenses to 39.1 billion XOF, primarily due to investments in IT modernization, personnel costs decreased by 1.31% to 15.3 billion XOF.

This led to an improved cost-to-income ratio of 42.53% from 50.57% in 2024, elevating gross operating income by 57.17% to 52.83 billion XOF.

Although the cost of risk rose by 61.41% to 15.43 billion XOF and a one-off tax adjustment charge of 1.65 billion XOF impacted the results, these factors did not prevent the bank from achieving a record profit.

The bank's return on equity was 29.28%, and consolidated net equity reached 88.89 billion XOF.

These results position AFG Bank Gabon as a significant challenger within the CEMAC banking sector, traditionally dominated by a few pan-African groups like BGFIBank.

Its rapid balance sheet expansion and efficient cost-to-income ratio suggest a real competitive dynamic.

The bank's strong performance comes during a period of economic transition for Gabon, which has been under military rule since August 2023.

The transitional government, led by General Brice Oligui Nguema, is focused on stabilizing the economy and attracting investment ahead of a planned return to civilian rule.

Gabon is also actively diversifying its economy away from declining oil production towards sectors like manganese mining, agriculture, and services, a context in which AFG's corporate lending to infrastructure projects is particularly relevant.

The sharp rise in the cost of risk, however, warrants careful monitoring as rapid loan book growth matures over time.