2020 Ranking of Banks Operating in Togo

Tuesday, 28 September 2021 16:18
2020 Ranking of Banks Operating in Togo

(Togo First) - Togo First presents the 2020 ranking of banks operating in Togo, by assets, deposits, and loans.

With a total balance sheet of CFA710 billion, Orabank kept its position as the leading bank in Togo in 2020.  It came far ahead of the runner-up Ecobank (CFA462 billion).

Orabank, which is headed by the Cameroonian Guy Awona, is also the country’s first lender, with outstanding loans valued at more than CFAF 414 billion. The same goes for deposits collected; they stood above CFA366 billion at the end of 2020.

While Ecobank has maintained its second place in terms of assets and deposits, the pan-African bank has lost its position as Togo’s second-largest lender in 2020 to Union Togolaise de Banque (UTB). Ecobank's lending to the economy fell by 21%, due to Covid-19. Meanwhile, UTB, which is being privatized, lent CFA170 to the economy; that is 9% more than it did in 2019.

The fastest-growing bank last year was Coris Bank International. Its assets more than doubled (50.9%) as deposits soared 27% to stand at CFA126 billion. Its loans also grew, passing CFA100 billion for the first time. Idrissa Nassa’s bank was the third-largest bank in the country, ahead of BTCI, UTB, and Banque Atlantique. 

In contrast, Société Générale’s assets slumped slightly (-0.53%). Assets of Société InterAfricaine de Banque (SIAB) were also down, standing at CFA10.1 billion. The financial intermediary barely meets the minimum capital requirement set by WAEMU’s banking commission.

Fiacre E. Kakpo

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