According to the provisions of the OHADA UNIFORM ACT on business law, public limited companies must hold a board of directors’ meeting at the end of each fiscal year to examine and approve the accounts of that year. 

This enables to assess the situation of the company. In this light, FNANCIAL HOUSE S.A held on May 28, 2014 a board of directors’ meeting de deliberate on the account of the fiscal year 2013 as at 31^st December 2013. The following major resolutions were arrived at:

1. Financial Statements

From the report of the auditor, it appears that FINANCIAL HOUSE S.A. is doing very well.

The accounts of the exercise, closed on 31/12/2013 have resulted to the following:

• Total Assets………………………………………………………11 347 008 286
• Turnover……………………………………………………………1 306 541 094
• Bottom Line……………………………………………………………94 053 118

2. Management report of the 2013’s term

The report presented by the General Manager followed the model proposed by the National Credit Council (CNC). It is structured in four parts. They are

• the company presentation;
• governance and internal audit;
• management report; and
• Financial statements.

It can be noted that in the year 2013, FINANCIAL HOUSE S.A. set a vision for the next decade and elaborated a three years’ strategic plan for 2014 to 2016.  Three organizations entered the company’s capital, the second installment of the capital was fully liberated and the company’s network was extended with the creation and opening of Mokolo Agency.

In his report, the general manager states that Cameroonian economy is gradually recovering after a slump of its growth rate in 2009. The company’s executives ensured the implementation of the recommendations of the finance supervisory bodies during the whole year.

Regarding the analysis of financial statements, it should be noted that the major indicators showed important increment, in particularly the total assets, the turnover, the cash flow, and the customers’ deposits amongst others. Conversely, we note a decrease of the bottom line explained by an increase of costs and provisions.

3. Capital Increment

The second installments of the capital increment has been liberated and the amount communicated.

 4. Validation of the theme for the 10th anniversary

We noted the progress of preparations for the 10th anniversary of the company, which will be held under the theme

"Financial House 10 years already, your savings always safe"