Ecobank, WAEMU's main active banking group in 2018

Banking

Thursday, 07 November 2019 17:09

Ecobank, WAEMU's main active banking group in 2018

(Togo First) - In 2018, Ecobank was the main active banking group in the West African Economic and Monetary Union (WAEMU). This was disclosed by the bank commission of the West African Monetary Union (WAMU), in a recent ranking.

Out of 29 banking groups ranked by the commission, the Lomé-based group thus came first with 13% of the union's market shares, just ahead of Société Générale which garnered 10.1% of these market shares. It also had 6.6% of active ATMs in the union and 12.6% of all active bank accounts, last year.

Ecobank, which has eight branches in the WAEMU also recorded nearly 18% of the total net income of the community, according to data from the bank commission.

After Ecobank and Société Générale came the Moroccan groups, Bank of Africa Atlantic Business International (ABI), and Attijariwafa Bank. They are followed by NSIA Banque and Coris Bank International, respectively from Côte d'Ivoire and Burkina Faso.

Let's indicate that Oragroup, another pan-African group based in Lomé, came eighth in the rankings, with 4.8% of WAEMU's market shares. In 2018, the group concentrated 2.9% of the union's active ATMs and 1.6% of active bank accounts.

Ayi Renaud Dossavi

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