NSIA Banque Côte d'Ivoire increases its share capital from 23.17 billion to 24.73 billion CFA francs (about 45 million USD). This is one of the essential points of an Extraordinary General Meeting of Shareholders that takes place on November 9, 2020 virtually from the bank's headquarters in Abidjan.

This action is the result of an operation by which the NSIA Banque Bénin branch brings to NSIA Banque Côte d'Ivoire, under the legal regime of the Partial Contribution of Assets, all the assets, rights and obligations as well as the liabilities, relating to the complete and autonomous branch of activity of its Ivorian branch, subject to the approval by the Extraordinary General Meeting of NSIA Banque Bénin, the said contribution, its valuation, its remuneration and the corresponding capital increase of NSIA Banque Côte d'Ivoire.

' The valuation made on the basis of the net book values of the assets contributed equal to CFAF 131,029,645,425 and the assumed liabilities equal to CFAF 124,602,473,917, i.e. net assets contributed equal to 6,427,171,508 CFA francs, based on the social accounts of the Ivorian branch of NSIA Banque Bénin as at 31 December 2019 ," reads the draft resolution signed by Jean Kacou Diagou, the Chairman of the Board of Directors.

The shareholders of NSIA Banque Côte d'Ivoire will therefore have to approve the allocation to the Shareholders of NSIA Banque Bénin, in return for the contribution made, of 1,564,572 new shares of NSIA Banque Côte d'Ivoire, with a nominal value of 1,000 CFA francs each, to be created by NSIA Banque Côte d'Ivoire in increase of its share capital.

Thus, following the adoption of this first resolution, the share capital will be increased by a sum of 1,564,572,000 CFA francs by the creation of 1,564,572 shares of 1,000 CFA francs each, fully paid up and bearing enjoyment on 1 January 2020. The shareholding which is 23.17 billion FCFA, divided into 23.17 million shares of 1,000 F CFA each, will therefore increase to 24,734,572,000 F CFA.

Fourth in the 2019 ranking of WAMU banks in terms of total balance sheet after Societe Generale Côte d'Ivoire, Banque Atlantique Côte d'Ivoire and Côte d'Ivoire Ecobank Côte d'Ivoire, As at 31 December 2019, NSIA Banque Côte d'Ivoire is controlled 30.6% by NSIA-Vie Assurance CI, 27.6% by NSIA Participations and 16.75% by the Caisse nationale de prévoyance sociale (CNPS). In 2019, the bank made an after-tax profit of 13.617 billion CFA francs, up 11.65% year-on-year.

Its Benin branch is ^3rd in the local market with a total balance sheet of 577.574 billion as of December 31, 2019.