Bank of Africa Bénin

Stock performance

History

Bank of Africa Bénin was established at the end of the 1980s as part of the Bank of Africa network, a group of West African banks set up by African and international investors that later expanded across the continent. It grew into Benin's largest commercial bank, and its shares trade on the regional stock exchange (BRVM) in Abidjan. The wider Bank of Africa group is controlled by Morocco's Bank of Africa (formerly BMCE Bank).

Business model

BOA Bénin provides retail, corporate, and public-sector banking, including deposits, trade finance for importers and exporters around the port of Cotonou, and lending to businesses and households.

Market position

Bank of Africa Bénin is one of the largest banks in Benin by assets and deposits, competing with Ecobank, Société Générale, Orabank, and others.

Country impact

As a leading lender to the trade and services businesses that dominate Benin's economy, BOA Bénin is closely tied to the fortunes of the port of Cotonou and cross-border trade with Nigeria and the Sahel.