Ecobank and Orabank hold 42% of Togo’s banking market share

Banking

Thursday, 15 April 2021 15:17

Ecobank and Orabank hold 42% of Togo’s banking market share

(Togo First) - Together, Orabank and Ecobank claim slightly over 42% of the Togolese banking assets. This is according to the latest data published by the Central Bank of West African States, BCEAO (2019).

This puts the two lenders among WAMU’s banks with systemic importance, which means that if any of them were to go bankrupt, Togo could plunge into a major financial crisis. Besides Orabank and Ecobank, 11 other banks operate in Togo.

In detail, Orabank’s assets are valued at nearly CFA630 billion or 25% of the total assets (CFA2,534 billion) detained by banks in the country. For its part, Ecobank Togo holds around CFA450 billion, which makes up a little more than 17% of the banking system’s overall weight.

Right behind the two giants are Banque Atlantique Togo (with CFA263 billion) and Union Togolaise de Banque (CFA262 billion).

Ecobank Togo, it should be recalled, won the Best bank award at the Banker’s Awards 2020, thus stripping the title away from Orabank Bank Togo which had it the previous year. This reflects the rude battle for market shares between the two lenders.

Klétus Situ

REFORMS OVERVIEW

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