Coris Bank International officially launched its Chadian subsidiary on June 18, marking its entry into the banking market of the Central African Economic and Monetary Community (CEMAC). The new entity, Coris Bank International Chad, takes over from the former Société Générale Chad, whose acquisition was finalized on February 31, 2024.
The tenth market for the group, Chad becomes Coris’ first presence in Central Africa. Already firmly established in the West African Economic and Monetary Union (UEMOA) where it is among the three largest banking groups, Coris continues its continental expansion with a strategy focused on high-potential areas.
The board of directors of the new entity had proposed the appointment of Beninese Towadan Fidèle Désiré Toko as the managing director as of February, pending validation from the Bank of Central African States (BEAC).
“Our development vision is based on a progressive pan-African presence. Entry into Central Africa is part of a logic of regional integration and geographical diversification,” said Idrissa Nassa, CEO of Coris Holding, in an interview with Financial Afrik in August 2023.
The official launch of Coris Bank International Chad thus marks a new stage in the group’s ambition to build a continental banking network.
