Question 1

What is Coris Bank International Côte d'Ivoire?

Accepted Answer

Coris Bank International Côte d'Ivoire (CBI-CI) is a universal commercial bank and the Ivorian subsidiary of Coris Bank International, a pan-African banking group headquartered in Burkina Faso. CBI-CI specializes in financing small and medium-sized enterprises (PME/PMI) while also serving retail customers and corporate clients.

The bank positions itself as a key economic partner in Côte d'Ivoire's dynamic banking sector, with a particular focus on supporting local entrepreneurs and project developers. As of recent reports, CBI-CI ranks among the top banks in the country with approximately 3% market share.

Question 2

When was Coris Bank International Côte d'Ivoire founded?

Accepted Answer

Coris Bank International Côte d'Ivoire was founded in 2013 as the second subsidiary of the Coris Bank Group. The parent group, Coris Bank International, was originally established in January 2008 in Ouagadougou, Burkina Faso.

The Ivorian subsidiary was created as part of Coris Group's strategic expansion across West Africa, initiated by financier and entrepreneur Idrissa Nassa. CBI-CI opened its operations on February 4, 2013, establishing its presence in Abidjan to serve the Ivorian market.

The bank has grown significantly since its inception, evolving from a startup operation to become a major player in the Ivorian banking landscape within a decade.

Question 3

Where is Coris Bank International Côte d'Ivoire headquartered?

Accepted Answer

Coris Bank International Côte d'Ivoire is headquartered in Abidjan, specifically in the Plateau district at Boulevard de la République, Rue n°23 Angle Avenue Marchand. Plateau is Abidjan's central business district and serves as the financial hub of Côte d'Ivoire.

The bank has been constructing a dedicated headquarters building, with completion originally planned for the second half of 2020, reflecting its commitment to establishing a permanent institutional presence in the country.

Question 4

Where does Coris Bank International Côte d'Ivoire operate?

Accepted Answer

Coris Bank International Côte d'Ivoire operates across Côte d'Ivoire through an expanding branch network. As of recent reports, the bank maintains 18 branches throughout the national territory.

The branch network includes a strong presence in Abidjan, with 10 branches in the economic capital, covering key districts including Plateau (headquarters), Adjamé, Abobo, Yopougon, and Abatta. Beyond Abidjan, CBI-CI has established branches in major regional cities including Daloa, Soubré, and San Pedro.

The bank continues to expand its footprint with the strategic objective of positioning itself closer to clients across all regions of the country.

Question 5

What services does Coris Bank International Côte d'Ivoire offer?

Accepted Answer

Coris Bank International Côte d'Ivoire offers a comprehensive range of banking services across retail, commercial, and corporate segments:

Retail Banking: Savings accounts (Coris Epargne Vision, Epargne Leader, Epargne Rummdé, Epargne Famille), current accounts, consumer loans, mortgage financing, term deposits (DAT), and credit cards (Coris Cash, Visa, Challenge, Challenge Plus, Open).

Business Banking: SME financing (working capital, investment credit, cash facilities, overdrafts, campaign credit, bridge loans, market advances), trade finance (documentary credits, bonded loans, discounting), and treasury services.

Digital Services: E-Banking platform (E-Coris) for 24/7 online account access, SMS Banking for real-time account notifications, MyCoris Bank digital banking platform, mobile money solution (Coris Money), E-Statement for digital account statements, and E-SWIFT for transaction alerts.

Payment Services: International money transfers, domestic wire transfers, foreign exchange operations, instant payment solutions (PI-SPA/PI-SPI) within UEMOA, and merchant payment services.

Islamic Banking: Through its Coris Bank Baraka window, the bank offers Sharia-compliant financial products including Wadi'a (current accounts), Moudaraba (investment accounts), Mourabaha (financing), and Ijara (leasing).

Question 6

What makes Coris Bank International Côte d'Ivoire unique?

Accepted Answer

Several distinctive features set CBI-CI apart in the Ivorian banking market:

SME Focus: The bank has positioned itself as "the reference bank for SMEs/PMIs" since its creation, providing specialized financing solutions for small and medium enterprises that often face difficulties accessing traditional bank credit. This includes flexible lending criteria and business development support.

Strategic Acquisition: In December 2023, CBI-CI signed an agreement to acquire Standard Chartered's retail banking operations in Côte d'Ivoire, finalizing the transaction in August 2024. This strategic move significantly expanded its retail client base and market position.

Digital Innovation: The bank has launched MyCoris Bank, a comprehensive digital banking platform currently available in Côte d'Ivoire, alongside mobile money services and real-time payment solutions integrated within the UEMOA regional payment system.

Quality Service Commitment: CBI-CI emphasizes being recognized as "la Banque Autrement" (the Different Bank) through its commitment to customer service quality, rapid processing of client requests, and close proximity to entrepreneurs.

Pan-African Backing: As part of the third-largest banking group in the West African Monetary Union (UMOA) with nearly 10% market share, CBI-CI benefits from the financial strength and expertise of a group operating across 11 African countries.

Question 7

What type of financial institution is Coris Bank International Côte d'Ivoire?

Accepted Answer

Coris Bank International Côte d'Ivoire is a universal commercial bank (banque universelle) operating under the regulatory framework of the Banking Commission of the West African Monetary Union (Commission Bancaire de l'UMOA).

As a universal bank, CBI-CI provides a full spectrum of banking services spanning retail banking, commercial banking, corporate banking, and investment banking activities. The institution is authorized to accept deposits, extend credit, provide payment services, and offer financial intermediation services to individuals, SMEs, and large corporations.

The bank operates as a wholly-owned subsidiary of Coris Holding SA, the financial holding company established in 2013 with a capital of 25 billion FCFA, which consolidates the banking interests of the Coris Group founded by Idrissa Nassa.

Question 8

How has Coris Bank International Côte d'Ivoire performed financially?

Accepted Answer

Coris Bank International Côte d'Ivoire has demonstrated strong financial performance since its establishment. According to available reports, by the end of its seventh year of operations in 2019, the bank achieved:

A net profit of 15 billion FCFA, effective equity of 31.6 billion FCFA, customer loans of 287.8 billion FCFA, and customer deposits of 306.9 billion FCFA. The bank served 47,297 customers with 59,329 accounts.

Over a six-year period, CBI-CI reported impressive growth rates: Net Banking Income (PNB) increased by 36%, net profit by 44%, deposits by 49%, direct credits by 32%, and off-balance sheet commitments by 90%. This consistent growth trajectory enabled the bank to rank 11th among 28 banks in the country, demonstrating its successful market penetration strategy.

Question 9

What partnerships has Coris Bank International Côte d'Ivoire established?

Accepted Answer

CBI-CI has established strategic partnerships to support its SME financing mission. Notably, the bank concluded a partnership agreement with the Ivorian government through the Ministry of Commerce for SME financing worth 10 billion FCFA.

This government collaboration underscores the bank's role as a key partner in supporting national economic development, particularly in strengthening the small and medium enterprise sector that serves as an engine for sustainable economic growth in Côte d'Ivoire.

The bank also maintains correspondent banking relationships and participates in regional payment systems through the UEMOA framework, enabling seamless cross-border transactions across West African Economic and Monetary Union member states.

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