WAEMU: Ecobank was the leading bank in 2019

Wednesday, 07 October 2020 17:04
WAEMU: Ecobank was the leading bank in 2019

(Togo First) - With a market share of 12.8%, the Lomé-based pan-African group Ecobank Transnational Incorporated was the leading bank in the West African Economic and Monetary Union (WAEMU) in 2019. 

According to Agence EcoFin which reported the news, the holding came ahead of French group Société Générale (10.1% of the market), and Moroccan Bank of Africa and Atlantic Business International (9.7% and 9.2% respectively).

Overall, banks from the region (Coris from Bukina Faso; Bridge Bank Group, NSIA Banque, SUNU, from Ivory Coast; Banque de développement du Mali ; Banque de Dakar in Sénégal and African Lease Group, Ecobank, Oragroup from Togo), total a market share of 33.8%. 

This puts sub-regional banks in competition with external players, notably, banks from the Maghreb, especially Moroccan lenders which alone account for 26.1% of market share, and more than a quarter (25.9%) of credit deposits.

Ayi Renaud Dossavi

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