Togo: BSIC Surges Past CFA331 Billion in Assets in H1 2025

Banking

Wednesday, 30 July 2025 04:23

Togo: BSIC Surges Past CFA331 Billion in Assets in H1 2025

(Togo First) - The Sahelo-Saharan Bank for Industry and Commerce (BSIC-Togo) closed the first half of 2025 with total assets of CFA331 billion, according to recent figures from its top management. This marks a sharp rise from CFA207 billion in 2022, confirming the bank’s steady growth.

This performance propelled BSIC-Togo to 6th place among Togo’s 15 commercial banks, up from 8th place a year earlier.

BSIC now holds a 6.7% market share, said Managing Director Tjima Diabate. She credited the bank’s rise to its digital transformation strategy. “To tailor our offerings to customer needs, BSIC Togo has set up a digital platform to enable its customers to carry out transactions remotely and in real time,” Diabate told ATOP. She said the momentum is strong and sustainable.

BSIC invested heavily in digital services during the period to serve a broad customer base, including individuals, SMEs, and large businesses. By the end of 2024, customer resources reached CFA161 billion, while deposits totaled 115 billion, translating to market shares of 5.1% and 4.9%, respectively.

BSIC’s net banking income climbed from CFA4.7 billion in 2020 to 6.5 billion in 2022, according to data from the BCEAO. This rise reflects a successful rebound after the bank posted losses in 2020.

BSIC’s next goal is to break into the top five commercial banks in Togo. To get there, the Libyan-owned group plans to fine-tune its performance indicators and continue expanding its customer base, especially as Togo’s banking landscape grows increasingly competitive.

BSIC faces stiff competition from sector leaders like Ecobank Togo, which reported nearly CFA700 billion in assets by June 2025, up 6%, and deposits of 525.3 billion. Orabank Togo, another heavyweight, ended 2024 with CFA851 billion in assets.

This article was initially published in French by Ayi Renaud Dossavi

Edited in English by Ange Jason Quenum

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

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Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

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PUBLIC PROCUREMENT (more info)

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