Atlantic Bank Group, commonly known by its French name Groupe Banque Atlantique, is a West African financial services conglomerate, headquartered in Lomé, Togo. The Group consisting of banks and other financial services companies in Cote d'Ivoire, Benin, Niger, Burkina Faso, Mali, Togo, Senegal and Cameroon.
 | |
Native name | Groupe Banque Atlantique |
|---|---|
| Company type | Private company |
| Industry | Financial services |
| Founded | August 11, 1978 |
| Headquarters | , |
Area served | West Africa |
Key people | Souleymane Diarrassouba, Group CEO |
| Products | Retail banking, Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
| Total assets | US$1.5 billion+ (2010)[1] |
| Website | www |
The Group is a large financial services provider in West Africa and Central Africa, with emphasis on retail banking, but offering a full range of financial products. The group maintains in excess of 150 branches in the 8 countries that it serves. The Group's shareholder's equity is in excess of US$122 million, as of October 2010[update]. [2]
History edit
The first bank that the group established was Atlantic Bank Cote d'Ivoire (Banque Atlantique Cote d'Ivoire) (BACI), which was founded in 1978.
In 1997, the Group acquired the assets of Barclays Bank in Cote d'Ivoire, keeping the new acquisition separate, but renaming it COBACI. In 2001, the Group created a joint stock with the symbol SGI. In 2005, SGI became Atlantic Financial Group, the holding company of the Atlantic Bank Group.[3] In 2004, a new subsidiary under the name GIE was established to handle the Group's computing and information technology needs. In 2007, GIE rebranded as Atlantic Technology SA.
Starting in 2006, the Group started a regional expansion drive by the opening of Atlantic Bank Benin that year. The next year, Atlantic Bank Niger, Atlantic Bank Burkina Faso, Atlantic Bank Mali and Atlantic Bank Togo were established. Since then Atlantic Bank Senegal (2007) and Atlantic Bank Cameroon (2009) were established.[4] Also in 2009, COBACI was merged with Atlantic Bank Cote d'Ivoire (BACI).[5]
Group members edit
The holding company for the group is Atlantic Financial Group, based in Lomé, Togo. The member companies of the Atlantic Bank Group include the following: [6]
- Atlantic Bank Cote d'Ivoire - Abidjan, Cote d'Ivoire
- Atlantic Bank Benin - Cotonou, Benin
- Atlantic Bank Niger - Niamey, Niger
- Atlantic Bank Burkina Faso - Ouagadougou, Burkina Faso
- Atlantic Bank Mali - Bamako, Mali
- Atlantic Bank Togo - Lome, Togo
- Atlantic Bank Senegal - Dakar, Senegal
- Atlantic Bank Cameroon - Douala, Cameroon[7]
- Atlantic Technology SA - Lomé, Togo
- Atlantic Finance - Lomé, Togo - A management and financial intermediation company
- Cash Money Worldwide - Lomé, Togo - A funds transfer company
- Atlantic Bank France - Paris, France - The Group maintains a representative office in Paris, France.
See also edit
References edit
- ^ Estimated Group Assets March 2010 Archived November 19, 2010, at the Wayback Machine
- ^ Overview of Atlantic Bank Group Archived November 19, 2010, at the Wayback Machine
- ^ "Banking Sector: Atlantic Business International (ABI)". Marcopolis. 23 December 2014. Retrieved 24 March 2016.
- ^ History of Atlantic Bank Group Archived November 19, 2010, at the Wayback Machine
- ^ BACI and COBACI of Ivory Coast Merged In 2009 Archived November 19, 2010, at the Wayback Machine
- ^ Member Companies of Atlantic Bank Group Archived November 19, 2010, at the Wayback Machine
- ^ Vubem, Fred (2009-06-11). "Cameroon: Banking Boom in Cameroon". Cameroon Tribune (Yaoundé). Retrieved 2017-09-05.