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 November 2007 by Morocco-based Attijariwafa Bank.[1]
Overview
editIn 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-owned Mimran Group.[2] These were reorganized in 1993 as the CBAO, with its equity held by the Mimran Group (75 percent), other local private shareholders (16 percent), and the Senegalese government (9 percent).[3]
In 2007, the Moroccan Attijariwafa bank bought a majority stake of the CBAO.[4] 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.[5] In 2008, CBAO absorbed the previously existing Attijari Bank Senegal,[6] also majority-owned by Attijariwafa Bank and which had absorbed the country's fifth-largest bank, Banque sénégalo-tunisienne (BST), in 2006.[7]
The CBAO operates as a private retail and commercial bank entirely within Senegal.[8]
See also
editReferences
edit- ^ Abdoulaye Thioye. "Le service des archives de CBAO Groupe Attijariwafa Bank" (PDF). France Archives.
- ^ 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
- ^ "CBAO : 150 ans, et pas une ride". Jeune Afrique. 13 May 2003.
- ^ 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.
- ^ "Notre histoire". CBAO Groupe Attijariwafa Bank.
- ^ Xinhua (2006). "Attijariwafa Bank rachète la Banque sénégalo-tunisienne". Yabiladi.
- ^ "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.
