After Senegal and Benin, the Burkinabé financial group, Coris Bank International (CBI), proceeded on Monday, December 2, to the official launch of the activities of its Nigerien subsidiary. Led by Rakiatou Idé Issaka, Coris Bank Niger is like the subsidiaries of other countries in the financing of the real economy.

With this opening, the bank is expanding its presence in seven West African countries, namely Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal and Togo.

The leaders of Coris Bank International (CBI) received by the Prime Minister of Niger, Brigi Rafini. From left to right, Diakarya Ouattara, Managing Director of Coris Bank International, Idrissa Nassa, PCA of CBI, the Prime Minister of Niger and Rakiatou Idé Issaka, CEO of Coris Bank Niger.

Coris Bank has indicated that it will prioritize the financing of SMEs but also the informal sector, which represents about 40% of the country’s GDP.

Idrissa Nassa, CEO of the pan-African Coris Bank International, insisted on this point: “the arrival of Coris Bank International (CBI) in Niger is in line with its strategy based on the financing of small businesses”.

And Mr. Nassa continues: “the Nigerien subsidiary will evolve in line with what the group is doing in West African countries. Our limit will be risk control in Niger”.

At the end of the third quarter of 2019, Coris Bank International recorded a 7.3% increase in its net profit, i.e. 19.164 billion FCFA (29.2 million euros) as of September 30, 2018 against 20.564 billion FCFA (31 .3 million euros) as of September 30, 2019.

Net banking income (NBI) increased slightly by 0.97%, from 41.327 billion FCFA (63 million euros) in the third quarter of 2018 to 41.729 billion FCFA (63.6 million euros) a year later.

Coris Bank International, considered one of the most profitable banks in the West African Economic and Monetary Union (UEMOA), aims to conquer all of West Africa before continuing its assaults in other regions of the continent.