Coris Bank, also known by the acronym CBI (for Coris Bank International), is a banking group in Africa with head office in Ouagadougou, Burkina Faso. By 2024, it had the largest branch network in Burkina Faso.[1] It has been described as one of a new cohort of multinational banking groups in Africa, together with Vista Bank.[2]
Overview
editCoris Bank was founded in January 2008 in Ouagadougou.[3] As of 2016, 70 percent of its equity was held by Coris Holdings,[4] an entity established in 2013[5] in Burkina Faso and controlled by financier Idrissa Nassa.[6] By 2024, that stake had declined to 63.6 percent.[7] Coris Holdings is part of the Coris Group, a conglomerate that also has operations in telecoms, mining, and manufacturing.[6]
Coris established a subsidiary in Guinea in 2021.[8] In March 2022, it established a branch in Guinea-Bissau.[9] In December 2023, it acquired the retail banking operations of Standard Chartered in Côte d’Ivoire.[10] In January 2024, it completed the acquisition of the 67.8 percent stake held by Société Générale in its subsidiary in Chad.[11] The acquisition of Société Générale's subsidiary in Mauritania, announced at the same time in 2023, was delayed by a more complex regulatory approval process.[12] Coris Bank also has operations in Benin, Mali, Niger, Senegal, and Togo.[9]
See also
editReferences
edit- ^ "In Burkina Faso, Proparco and Coris Bank International SA sign a €30 million guarantee for trade finance operations". Choose Africa. 2024.
- ^ "French Banks' Exit from Africa to Spur Local Banks' Growth, Competition". Fitch Ratings. 26 April 2024.
- ^ "Coris Bank International S.A." Wall Street Journal.
- ^ "Burkina Faso - Coris Bank international (CBI) - Project Summary Note". African Development Bank. 20 January 2022.
- ^ "Coris Holding". Coris Holding.
- ^ a b Matthieu Bos (31 August 2017). "SRG Graphite Closes First Tranche of $3 Million Equity Financing With CORIS Capital SA". Junior Mining Network.
- ^ "Publication of Circular and Notice of GM - Hummingbird Resources plc". London Stock Exchange. 5 December 2024.
- ^ "IFC and Coris Bank Partner to Boost Trade Finance in Guinea". International Finance Corporation. 6 March 2024.
- ^ a b Moussa Wandaogo (31 March 2022). "Coris Bank International : Idrissa Nassa inaugure sa première agence à Bissau". OuagaNews.
- ^ Nadoun Coulibaly (20 December 2023). "Coris Bank takes over Standard Chartered retail business in Côte d'Ivoire". The Africa Report.
- ^ "Coris Bank International SA completed the acquisition of 67.8% stake in Société Générale Tchad from Société Générale Société anonyme". MarketScreener. 30 January 2024.
- ^ "Mauritania: lobbies oppose the arrival of Coris Bank International". Frontier Africa Reports. 27 November 2023.
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