Cote d’Ivoire - Banking SystemsCote d’Ivoire - Banking Systems
Banks are expanding their networks, especially in the secondary cities outside Abidjan as domestic investment has increased upcountry. The total number of bank branches increased from 281 in 2008 to 631 branches in 2016.
Côte d’Ivoire's commercial banking sector is undergoing privatization, as the government is seeking to reinvigorate the sector. Publicly owned banks pose potential systemic risks to the financial system, as loan quality, solvency, and profitability have deteriorated in recent years due to mismanagement and lack of oversight. The government has at times had to step in to rescue poorly-managed banks.
The central bank BCEAO is common to the eight member states of the West Africa Economic and Monetary Union (WEAMU).
Foreign banks are allowed to establish operations in Côte d’Ivoire. They are subject to prudential measures and regulations of the Banking Commission of the WAEMU.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Côte d’Ivoire's commercial banking sector is undergoing privatization, as the government is seeking to reinvigorate the sector. Publicly owned banks pose potential systemic risks to the financial system, as loan quality, solvency, and profitability have deteriorated in recent years due to mismanagement and lack of oversight. The government has at times had to step in to rescue poorly-managed banks.
The central bank BCEAO is common to the eight member states of the West Africa Economic and Monetary Union (WEAMU).
Foreign banks are allowed to establish operations in Côte d’Ivoire. They are subject to prudential measures and regulations of the Banking Commission of the WAEMU.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.