Coris Bank

Logo of Coris Bank

Coris Bank, also known by the acronym CBI (for Coris Bank International), is a banking group in Africa with head office in Ouagadougou, Burkina Faso. By 2024, it had the largest branch network in Burkina Faso.[1] It has been described as one of a new cohort of multinational banking groups in Africa, together with Vista Bank.[2]

Overview

Coris Bank was founded in January 2008 in Ouagadougou.[3] As of 2016, 70 percent of its equity was held by Coris Holdings,[4] an entity established in 2013[5] in Burkina Faso and controlled by financier Idrissa Nassa [fr].[6] By 2024, that stake had declined to 63.6 percent.[7] Coris Holdings is part of the Coris Group, a conglomerate that also has operations in telecoms, mining, and manufacturing.[6]

Coris established a subsidiary in Guinea in 2021.[8] In March 2022, it established a branch in Guinea-Bissau.[9] In December 2023, it acquired the retail banking operations of Standard Chartered in Côte d’Ivoire.[10] In January 2024, it completed the acquisition of the 67.8 percent stake held by Société Générale in its subsidiary in Chad.[11] The acquisition of Société Générale's subsidiary in Mauritania, announced at the same time in 2023, was delayed by a more complex regulatory approval process.[12] Coris Bank also has operations in Benin, Mali, Niger, Senegal, and Togo.[9]

See also

• Vista Bank (Africa)
• Ecobank
• Banque Internationale pour le Commerce et l'Industrie
• List of banks in Africa

References

1. "In Burkina Faso, Proparco and Coris Bank International SA sign a €30 million guarantee for trade finance operations". Choose Africa. 2024.
2. "French Banks' Exit from Africa to Spur Local Banks' Growth, Competition". Fitch Ratings. 26 April 2024.
3. "Coris Bank International S.A." Wall Street Journal.
4. "Burkina Faso - Coris Bank international (CBI) - Project Summary Note". African Development Bank. 20 January 2022.
5. "Coris Holding". Coris Holding.
6. Matthieu Bos (31 August 2017). "SRG Graphite Closes First Tranche of $3 Million Equity Financing With CORIS Capital SA". Junior Mining Network.
7. "Publication of Circular and Notice of GM - Hummingbird Resources plc". London Stock Exchange. 5 December 2024.
8. "IFC and Coris Bank Partner to Boost Trade Finance in Guinea". International Finance Corporation. 6 March 2024.
9. Moussa Wandaogo (31 March 2022). "Coris Bank International : Idrissa Nassa inaugure sa première agence à Bissau". OuagaNews.
10. Nadoun Coulibaly (20 December 2023). "Coris Bank takes over Standard Chartered retail business in Côte d'Ivoire". The Africa Report.
11. "Coris Bank International SA completed the acquisition of 67.8% stake in Société Générale Tchad from Société Générale Société anonyme". MarketScreener. 30 January 2024.
12. "Mauritania: lobbies oppose the arrival of Coris Bank International". Frontier Africa Reports. 27 November 2023.