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Cameroon Banking Industry. Competitive Analyses,Insights &Prospects

Cameroon Banking Industry. Competitive Analyses,Insights &Prospects

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Cameroon Banking Industry. Competitive Analyses, Insights and Prospects depicts the activities of major players, positioning, challenges, leading market trends and the way forward. It identifies the following trends. •Sprouting of New Financial Institutions posed a Grave Regulatory Challenge. As a result, news of new financial institutions opening up and closing after weeks or months is rampant and now occupies headline in popular news channels. •War for Local Talents Intensify Amongst Commercial Banks in Cameroon. Consequently, some banks have become training grounds while others have exaggerated their salary and compensation expense in the war for local talents. Internet banking accounts for insignificant percentage of banking revenue. Reasons for this include poor advertisement, low internet penetration, growing security concern with online transactions and low awareness of the existence of internet banking channel among consumers Informal institutions and money lender gaining grounds.Commercial banks in Cameroon should leverage their know how and learn from one another. In doing so, banks should attach strong preference for value over appearance.