By the end of 2023, the French bank Société Générale should sell its subsidiaries in Congo and Equatorial Guinea to the Vista Bank group (Simon Tiemtoré) and those in Mauritania and Chad to the Coris group. Bank International (Idrissa Nassa), according to a statement released Thursday.

At the end of the signing of agreements, the French bank Société Générale, which holds 93.5% Société Générale Congo and 57.2% Société Générale de Banques in Equatorial Guinea, will sell these subsidiaries to the Vista Bank group of Burkinabe Simon Tiemtoré .

This is indicated by Societe Generale in a press release dated June 8, 2023.

It will also sell Societe Generale Mauritania (95.5%) and Societe Generale Chad (67.8%) to Coris Bank International of Burkinabè Idrissa Nassa.

“The completion of these transactions, which could take place by the end of 2023, is subject to the approval of the governance bodies of the entities, to the usual conditions precedent as well as to the validation of the competent financial and regulatory authorities. », Specifies the press release from Societe Generale.

The Societe Generale group expressed confidence in the ability of the Vista Group and the Coris Group to pursue the development strategy of these entities, for the benefit of customers, partners, employees and local economies.

As a reminder, in November 2020, Vista Bank, already present in Gambia and Sierra Leone, had already acquired the subsidiaries of the French bank BNP Paribas in Burkina Faso (BICIAB) and in the Republic of Guinea and in June 2022, the subsidiary in Senegal.

In addition to Burkina Faso, Coris Bank International was already present in Guinea-Bissau, the Republic of Guinea, Niger, Mali, Côte d’Ivoire, Togo, Benin and Senegal.

Source: Burkina Information Agency