The transaction will take the form of a partial contribution of assets from the Ivorian branch of NSIA Banque Bénin (formerly Diamond Bank SA). It is subject to the legal regime of the division,  in accordance with Article 195 of the OHADA Uniform Act on Commercial Company  Law and the EIG (AUSCGIE), and will lead NSIA Banque Bénin to transmit a net asset of 6,427,171,508 CFA francs to NSIA Banque Côte d'Ivoire, based on the accounts as at 31 December 2019.

1,564,572 shares of NSIA Banque CI, with a nominal value of 1,000 CFA francs each, will be created and distributed among the shareholders of NSIA Banque Bénin, the contributing company.

The issuance of new shares will be led by NSIA Finance, the management and intermediation company of the NSIA Group.

"This transaction announced on the market since 2019 has obtained the authorization of the CREPMF. The  consequence for NSIA Bank CI is an increase in the share capital. The new shares that will be created will be admitted to the brvm's listing. " said Ms. Eliane ALANGBA, Deputy CEO of NSIA Finance.

The transaction had previously received the favourable opinion of the Banking Commission on 27 March 2020 and the approval of the Ministry of Economy and Finance of Benin on 29 May 2020.

The Boards of Directors of NSIA Banque Bénin and NSIA Banque CI, meeting on June 14, 2019, had adopted the draft treaty of partial contribution of assets that had been submitted to them.

This Treaty was revised during the 19 October 2020 session of the Bank's Board of Directors, based on figures as at 31 December 2019.

The effective date of the transaction has been set for 1 January 2020. The Extraordinary General Meeting held on November 9, 2020 approved the terms of the transaction.

Mr. Léonce YACE, Chief Executive Officer of NSIA Banque CI welcomed this significant step forward in the recovery process: ""

On the commercial side, the next deadlines will be to assign new account numbers and payment methods to customers from Diamond Bank CI with an indication of the destination bank branches. Further information will be communicated to customers in due course. A communication campaign with the signature "With NSIA Bank, let's think bigger in 2021" will materialize the ambitions of the Ivorian bank for the coming years as contained in the Strategic Plan 2020-2024.

The completion of this external growth operation demonstrates the NSIA Group's constant desire to become a major banking player on the African continent .

A subsidiary of the pan-African NSIA Group, present in 12 countries and leader in Insurance and Banking, NSIA Banque CI is part of the banking division of the said group with 3 banks and 3 branches in West Africa. Listed on the Regional Stock Exchange (BRVM), it now has more than 80 points of sale in Côte d'Ivoire, has a fleet of more than 120 ATMs, as well as a representative office in Paris (France) dedicated to the diaspora. Therefore, it is positioned as the privileged partner of Individuals and Companies. It contributes strongly to the development of the Ivorian economy through the financing of several projects; This earned it a second award of excellence in 2018, that of the "Best Institution in the Financial Sector ", awarded by the State of Côte d'Ivoire, in the category "Field of economic and financial management". It has nearly 1,000 employees.

Tel: (225) 80 200 800

Tel.: (225) 80 200 800

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