Which bank has the most customers in Togo?

Monday, 05 September 2022 09:14
Which bank has the most customers in Togo?

(Togo First) - Besides being the bank that provides most loans and gets most deposits in Togo, Orabank has the most clients. In 2021, the lender reported having 327,230 accounts, coming ahead of Ecobank with its 257,274 accounts. 

Regarding the year-to-year evolution of the customer base, Orabank was second last year with a 33% increase compared to 2020. It was behind Coris Bank but ahead of BSIC (+14%), Ecobank (+11%), and UTB (+8%). The latter, let’s note, is still the only State-owned bank in Togo, though it is about to be privatized. 

In contrast with these five banks, BIA- owned by the Moroccan Attijariwafa, Sunu Bank, and IB Bank, ex-BTCI now owned by Ebomaf’s boss Mahamadou Bonkoungou, all lost clients last year. 

Coris Bank International, which has been growing strongly for the past two years, saw the number of accounts opened on its books rise from 91 to 25,958. The upward trend is equally noticeable in the other indicators of the bank of Burkinabe Idrissa Nassa. The banking group became WAEMU’s 3rd largest banking group in 2021, outpacing major actors like Oragroup, BOA, Attijariwafa...

According to some observers, Coris’ impressive record in Togo could be due to the bank changing its target market. It used to serve only corporate customers.

Written by: Fiacre E. Kakpo

Translated from French by Schadrac Akinocho

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