BGFIBank Group

BGFIBank Group
Private
Industry Banking and Finance
Founded 1971
Headquarters Libreville, Gabon
Key people
 Patrice Otha, Chairman
Henri-Claude Oyima, Chief Executive Officer
Products Loans, Mortgages Investments, Debit cards, Credit Cards
Website Homepage

BGFIBank Group, whose full name is BGFIBank Group S.A., is a financial services organization headquartered in Gabon. The group has subsidiaries in eight (8) countries including Gabon, Benin, Republic of the Congo, Democratic Republic of the Congo, Equatorial Guinea, Madagascar, France and Cote d'Ivoire.

Overview

BGFIBank Group is a large financial services conglomerate in Central, West and East Africa, with subsidiaries in ten (10) countries. The member institutions serve both individuals and businesses, with emphasis on small-to-medium enterprises (SMEs). As of December 2010, the Group's assets were in excess of Euro:3.7 billion.[1] In January 2010, BGFIGroup was rated the first-largest bank group in Central Africa, by assets.[2]

History

In 1971, the Group started with one institution in Gabon called Bank of Paris and the Netherlands Gabon. That first bank was a joint venture between several private Gabonese investors, BNP Paribas and the Netherlands.[3]

The Group's first subsidiary was set up in 1987 under the name FIGADIM and was later renamed BGFIBail. In 1996, when Gabonese private investors acquired majority shareholding in the bank, it rebranded as the International Gabonese and French Bank known in French, as "Banque Gabonaise et Française Internationale" (BGFI). The Group's second subsidiary, Financiere Transafricaine (Finatra), was established in 1997.

In 2000, the bank rebranded to BGFIBank S.A., which is its current name. During the next ten (10) years, the group has pursued an aggressive expansion policy by opening a subsidiary in Republic of the Congo in 2000, Equatorial Guinea in 2001, France in 2007, Madagascar in 2010, Benin in 2010 and Democratic Republic of the Congo in 2010. During the same decade a plethora of non-bank financial subsidiaries were set up by the group, the majority being located in Gabon.[4]

Member companies

The companies that compose the BGFIBank Group include:[5]

Commercial banks
Other financial services companies

Ownership

Shareholding in the Group's stock is private, although dynamic. New investors can buy in, while existing investors have the opportunity to divest. However, the Group's stock is not listed on any publicly traded exchange. The detailed shareholding in BGFIBank Group is illustrated in the table below:[6]

BGFIBank Group stock ownership
Rank Name of ownerPercentage ownership
1Private investors32.50
2Gabon Development Bank10.00
3Delta Synergie 09.01
4Financiére des Vosges 05.00
5Compagnie du Komo25.01
6Carlo Tassara Asset Management09.50
7BGFIBank employees08.98
Total100.00

Governance

The Chairman of the eleven (11) member Board of Directors is Patrice Otha. The Chief Executive Officer of the Group is Henri-Claude Oyima and the General Secretary is Brice Laccruche.[7]

External links

See also

References

  1. ↑ 2009 Group Financial Statement
  2. ↑ BGFIBank Group Second Largest Bank Group In Central Africa
  3. ↑ PNB Paribas Was A Founding Investor In BGFIBank Group
  4. ↑ History of BGFIBank Group
  5. ↑ Subsidiaries of BGFIBank Group
  6. ↑ Shareholding In BGFIBank Group
  7. ↑ Key People At BGFIBank Group