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Finance: Here are the top 10 WAMU Banks According to the BCEAO

The BCEAO has published the ranking of the top 10 banks in the UMOA space. The Ecobank Group is the top ten financial institution.

The Central Bank of West African States (BCEAO) ranks the Ecobank group as the first among the banks operating in the UMOA (West African Monetary Union) area. The “pan-African bank” holds a 14% market share in 2017. Ecobank also has 15.2% of customer accounts, 9.2% counters and 18.5% of ATMs (ATMs) ). It represents 15.4% of the overall net income of the banking system in this economic area.

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After Ecobank, Bank of Africa comes second with a market share of 10.5%. The BOA Group owns 9.8% of ATMs, 10.8% of ATMs, and has a larger number of customer bank accounts to its credit, 16.7%, compared to Ecobank (15.2).

As a reminder, the BOA group includes 8 banks and is owned by the Moroccan group BMCE

With a market share of 9.8%, the French group Societe Generale ranks third among banks in the UMOA zone. SGBCI, the Ivorian subsidiary of the group, is the largest in the zone.

If the first three ranks do not allow any domination to emerge, the rest of the ranking reveals the clear dominance of the Moroccan banking groups.

In addition to the BOA group, the Sherifian Kingdom is represented by Atlantic Business Internatioanl (ABI), which is with Banque Atlantique, a subsidiary of the BCP group. ABI is ranked 4th, Attijariwafa Bank is ranked 5th. As you will have noticed, Morocco places 3 representatives in the top 5 of this ranking.

NSIA Banque, the only Ivorian banking group is 6th. With the acquisition of Diamond Bank in 2017, NSIA holds 5% of ATMs, 5.4% of ATMs, 5.2% of customer accounts. Its contribution to the overall provisional result is estimated at 5.4%.

Coris Bank International, Oragroup, BNP Paribas and BSIC rank respectively 7th, 8th and 9th in this ranking

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Written by How Africa

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