Legal and Institutional Framework

Banking activities within the West African Monetary Union (WAMU) are primarily governed by the framework law on banking regulation and its implementing texts.

Regionally, the Ivorian banking sector is regulated by the Central Bank of West African States (BCEAO). The Banking Commission of WAMU is responsible for its supervision and regulation.

Total Balance Sheet of WAMU Banking Systems as of the End of 2023

Source : Banking Commission of WAMU, 2023

The Ivorian banking system dominates the banking landscape of WAMU as of December 31, 2023. The total balance sheet of credit institutions in Ivory Coast amounts to 22,188.1 billion FCFA, corresponding to 33.7% of the WAMU market share.

National Banking Landscape

As of December 31, 2023, the Ivorian banking system comprises 32 licensed credit institutions, including 28 banks (15 international and 13 sub-regional) and 4 financial institutions with banking characteristics (1 international and 3 sub-regional). The number of bank accounts stands at 7,148,974 compared to 3,277,292 in 2017.

In terms of concentration, the Ivorian banking sector includes 4 Systemically Important Banks (SIBs) out of the 28 in WAMU as of 2023. These SIBs account for 27.7% of the local market share, 31.1% of loans, and 30.1% of deposits. In the regional market, they represent 23.4% of banking assets.

Evolution of Banking Service Penetration

 Source : Banking Commission Report, 2023