Of the 13 banks operating in Togo, eight (08) are subsidiaries of the largest banking groups in WAMU, reveals the 2018 annual report of the BCEAO Banking Commission, published last Thursday.

Ecobank, headquartered in Lomé, is the largest banking group in the area. With a 13.2% market share, the pan-African group distances the French Societe Generale (10.1%), whose branch of its Beninese subsidiary has opened its doors since 2015 in Togo, and is active in the corporate segment.

Bank of Africa, 9.6% market share, which launched its activities in Togo in 2013, comes in 3rd place. The Moroccan Bank is closely tightened by its compatriot Atlantic Business International (ABI), holding company of the Banque Centrale Populaire Group, owner of Banque Atlantique.

Attijariwafa bank, which took over the BIA in 2013, 5th in this ranking of the main groups operating in WAMU, confirms the hegemony of the Cherifian empire in West Africa in the financial field.

It is the Ivorian NSIA Banque, buyer in 2018, of the activities of Diamond Bank which controls the 6th place with a market share of around 5.3%. In a close battle, the Bank founded by Jean Kacou Diagou, is followed by Coris Bank International of Burkinabe Idrissa Nassa.

Oragroup, based in Lomé, whose subsidiary is the leading Togolese bank, is the 8th largest banking group in the integration area, with a 4.8% market share.

The Sahelo-Saharan Bank for Industry and Commerce (BSIC), which holds 2.6% of the Community market, also operates on Togolese soil. The Libyan Bank is 12th in the BCEAO ranking.