Bad loans at Togo's banks and financial institutions fell to 10.2% of gross loans at the end of September from 11.7% in August, the regional central bank BCEAO said in its monthly statistics bulletin. Gross lending rose 5.9% from the previous month to 2,606.6bn FCFA (€3.97bn). Meanwhile, non-performing loans fell to 265.5bn FCFA (€405mn), still 34% more than a year earlier.
Analysis: About 0.6 of the 1.5-point fall reflects the rise in lending rather than repaid loans, by our calculation. Bad loans fell 21.8bn FCFA (€33mn) while gross loans grew 145.5bn FCFA (€222mn). Provisions fell even more, by 24.4bn FCFA (€37mn), cutting coverage to 48.9% from 53.7%. That is consistent with banks writing off loans that were already provisioned. Togo's ratio is now just below the West African Economic and Monetary Union (WAEMU) average of 10.3%. However, it remains 2.5 points above September 2025. The BCEAO's October bulletin, expected in early December, should show whether the lending increase holds.
Source: BCEAO, BCEAO, Bulletin mensuel des statistiques, septembre 2026, September 2026