Praia, July 8, 2025 (Lusa) - Cabo Verde’s banks posted record profits of 6.1 billion escudos (€55.3 million) in 2024, according to data from the central bank accessed by Lusa on Tuesday.

This represents an increase of 16% over the previous year, according to the Banking System Indicators tables published by the Bank of Cabo Verde (BCV), which show stable performance in return on equity, remaining at around 16%.

In other indicators, the sector’s solvency ratio grew by a few tenths of a percentage point to around 24%, remaining well above the regulatory minimum of 11.25%.

Banks granted total credit that grew 5% to 158 billion escudos (€1.4 billion), which is also a historic high, and performing loans accounted for 88% of the portfolio after the stock of non-performing loans rose 14% to 12 billion escudos (€109 million) - with the ratio of non-performing loans to total loans rising to 8%.

On the liquidity side, Cabo Verde’s banks closed the last year with 280 billion escudos (€2.5 billion) in deposits, 7% more than in 2023.

According to the BCV, the sector comprises eight banks with general authorisation.

LFO/ADB // ADB.

Lusa