After having developed CBI in the WAEMU countries, the PCA is preparing to launch a subsidiary in Guinea by the end of the year. For JA, he analyzes the results of his group, reviews the evolution of the financial sector and reveals his future projects.
Less than thirteen years after its creation, Coris Bank International (CBI) is considered by financiers as a success-story in west Africa. If Burkina Faso still remains its main market, with 23% of market share ahead of Bank of Africa (17%) or Ecobank (16.5%), the banking group led by its founder, Idrissa Nassa, recorded good performances. in its subsidiaries in Côte d’Ivoire, Mali, Togo, Senegal, Benin and Niger during the pandemic.
As of December 31, 2020, its net income reached 63.2 billion CFA francs (96.4 million euros), as of December 31, 2020, up 20.8% over one year. At the same time, the balance sheet total jumped 43.4% to 3,599.8 billion CFA francs. Finally, the net banking income (NBI) amounted to 152 billion CFA francs, an increase of 32%. Commercial dynamism, the diversification of offers (with a focus on digital products) and good risk management explain this trend. On the occasion of Coris’ arrival on the Guinean market, Idrissa Nassa, 56, takes stock of her development strategy while the health situation remains precarious.
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Jeune Afrique: CBI set up in Guinea-Conakry in 2021. Why did you choose this country for your first establishment outside the Uemoa zone?
Idrissa NASSA: Indeed, CBI is setting up in Guinea-Conakry with a launch of activities scheduled for the fourth quarter. Guinea is a country with very high potential, closely linked to the Umoa zone with a real need for investment and financing of its economy. Our ambition is to make our contribution to the development of the country and thus to accelerate the rapprochement of the Guinean economy with that of the countries of the franc zone.