CBAO Groupe Attijariwafa Bank
The Compagnie Bancaire de l'Afrique Occidentale (CBAO, lit. 'Banking Company of West Africa') is a bank headquartered in Dakar, Senegal. With a history going back to the establishment of the Banque du Sénégal in 1853, it was purchased in 2007 by Morocco-based Attijariwafa Bank.
Overview
[edit]In 1989, the Senegalese operations of the Banque Internationale pour l'Afrique Occidentale were liquidated into several private institutions, with a majority share of the largest going to the Senegalese MIMRAN Group.[1] These were reorganized in 1993 as the CBAO. The Mimran group held three-quarters of the share capital, with 9% held by the State and 15% by private funds.
In 2007, the Moroccan Attijariwafa bank bought a majority stake of the CBAO,[2] and in 2008 joined it with the majority Attijariwafa owned Attijari Bank Senegal. The CBAO operates as a private retail and commercial bank entirely within Senegal.[3]
As of December 2007, the CBAO had a capitalisation of 11 billion, 450 million CFA Francs. Attijariwafa bank owned 79.15%, 9% was retained by the government of Senegal, and 12% was held by other private investors.[4]
References
[edit]- ^ Entreprise & Developpement N°43 Archived 2011-07-25 at the Wayback Machine. Patrick Mestrallet, Institut Panafricain De Developpement Des Entreprises (IPDE), Benin. 05-09-2005
- ^ Morocco's Attijariwafa Bank buys nearly 80% of Senegalese CBAO Archived July 19, 2011, at the Wayback Machine, Government of Morocco, Rabat, Nov. 14 -2007
- ^ "CBAO | Partenaire à vie". www.cbao.sn (in French). Retrieved 2017-08-30.
- ^ "CBAO | Partenaire à vie". www.cbao.sn (in French). Retrieved 2017-08-30.
- Concentration Du Marche Bancaire : Attijariwafa arrive en force. Amadou FALL, Le Soleil (Dakar). 22 December 2008.
- AfDevInfo: CBAO
External links
[edit]- CBAO.sn: Official site.
