Question 1

What is Banque de Développement des Comores (BDC)?

Accepted Answer

Banque de Développement des Comores (BDC) is a state-controlled development and commercial bank based in the Union of the Comoros. Originally established as a development finance institution, BDC has evolved into a universal bank offering retail, commercial, and digital banking services across the three main islands of the Comoros archipelago.

As the country's reference bank, BDC plays a pivotal role in supporting economic development through financing for SMEs, enterprises, and productive sectors including agriculture, fisheries, and industry. The bank is noted for its pioneering digital banking platform HOLO and its focus on financial inclusion.

Question 2

When was Banque de Développement des Comores (BDC) founded?

Accepted Answer

BDC was created in 1981 through Law No. 81-026/PR dated August 22, 1981, establishing the bank's statutes with an initial capital of 300 million Comorian francs. The founding shareholders included the Comorian State, the French Development Agency (AFD), the European Investment Bank (BEI), and the Central Bank of the Comoros.

The bank's original mission was to contribute to the economic development of the Comoros by financing investments with financial balance guarantees and managing operations on behalf of the State and public entities. BDC was formed as a mixed-economy public limited company (Société Anonyme d'Economie Mixte) under the supervision of the Ministry of Finance.

Question 3

Where is Banque de Développement des Comores (BDC) headquartered?

Accepted Answer

BDC's headquarters is located in Moroni, the capital city on the island of Ngazidja (Grande Comore), in the Union of the Comoros. The head office coordinates operations across the archipelago and houses the bank's central management and administrative functions.

Question 4

Where does Banque de Développement des Comores (BDC) operate?

Accepted Answer

BDC operates throughout the Union of the Comoros across all three main islands of the archipelago. The bank maintains physical branches in strategic locations including:

Ngazidja (Grande Comore): Head office in Moroni, branches in Hamramba (opened 2019) and Mitsamiouli (opened 2016, renovated 2024).

Ndzuani (Anjouan): Branches in Mutsamudu (opened 1984) and Domoni (opened 2021).

Mwali (Mohéli): Branch in Fomboni (opened 2009).

Beyond physical branches, BDC extends its reach through the HOLO digital banking network, which includes an extensive network of agents and merchants distributed across all three islands, enabling banking access in areas without traditional branch infrastructure.

Question 5

What services does Banque de Développement des Comores (BDC) offer?

Accepted Answer

BDC provides a comprehensive range of banking services tailored to individuals, professionals, businesses, the diaspora, and start-ups:

Retail Banking: Current accounts (comptes courants), savings accounts (comptes épargne), time deposits (dépôts-à-terme), personal loans, and credit facilities.

Commercial Banking: Business financing, investment loans, working capital facilities, and support for SMEs and intermediate-sized enterprises. The bank provides financing for productive sectors including agriculture, livestock, fisheries, industry, tourism, and commerce.

International Services: International wire transfers through the SWIFT network (integrated 2019), partnerships with MoneyGram (since 2013) and RIA (since 2023) for money transfer services.

Digital Banking: The bank's flagship HOLO mobile banking platform offers comprehensive digital services including mobile account opening, cash deposits and withdrawals through agents, peer-to-peer transfers, bill payments (including electricity via SONELEC partnership), salary payments, merchant payments, mobile airtime recharge, and international remittances to countries including Madagascar, Senegal, Tanzania, Kenya, Uganda, and Guinea Conakry, with corridors from Europe.

Additional Services: Credit simulation tools, wealth management, and participation in financing innovative enterprises through partnerships with business incubators like Shinoon.

Question 6

What makes Banque de Développement des Comores (BDC) unique?

Accepted Answer

BDC distinguishes itself as the first bank in the Comoros to launch a comprehensive mobile banking solution. HOLO, launched in 2019, has driven significant financial inclusion by enabling banking access without requiring traditional account opening procedures at physical branches.

The bank's extensive agent network allows customers to access banking services across remote areas of the three islands, addressing the challenge of limited ATM infrastructure and the fact that BDC has only five physical branch locations nationwide.

BDC's focus on the Comorian diaspora is notable, with dedicated services and international transfer corridors designed to facilitate remittances from countries where Comorian communities reside, including France, Senegal, Morocco, and Madagascar. The bank also partners with universities and public institutions, enabling digital payment of university fees through HOLO.

The bank's evolution from a development finance institution to a full-service digital-first bank while maintaining its developmental mandate sets it apart in the Comorian banking sector.

Question 7

What type of financial institution is Banque de Développement des Comores (BDC)?

Accepted Answer

BDC is classified as a universal bank operating as a state-controlled commercial bank. While originally established as a development bank (banque de développement) with a specific mandate to finance productive investments and economic development projects, it has evolved into a full-service banking institution.

The bank combines development banking functions—supporting SMEs, productive sectors, and economic growth initiatives—with traditional commercial banking services for retail and corporate clients. Since 2021, BDC has been 100% owned by the Comorian State following the government's complete buyback of shares, reinforcing its role as the national reference bank.

As a universal bank, BDC is authorized to accept deposits, extend credit, take minority equity participations in enterprises, provide payment services, and conduct international banking operations, all under the regulatory supervision of the Central Bank of the Comoros.

Question 8

What is BDC's ownership history?

Accepted Answer

BDC has undergone significant ownership changes since its founding. In 2014, the bank underwent privatization with Investisseur et Partenaires Afrique Entreprises (IPAE) entering as a strategic partner shareholder. In 2018, FINAFRICA, a subsidiary of Groupe DUVAL, acquired a stake in the bank's capital.

However, in 2021, the Comorian State completed a full buyback, regaining 100% ownership of BDC. This transition returned the bank to full state control, reinforcing its mission to serve as the national development bank while maintaining commercial banking operations. The state ownership structure aligns with BDC's vision to serve as the reference bank for the Comoros and maintain its developmental mandate alongside commercial viability.

Banque de Développement des Comores (BDC)

in the Comoros 🇰🇲

Crypto-Friendliness

All done!

About Banque de Développement des Comores (BDC) in the Comoros

Banque de Dévelo­ppement des Comores (BDC)