2024-02-26 09:20:34
We know more regarding the state of health of the Commercial Bank of Burkina (BCB). During the holding of the 5th Burkina Faso-Libya joint cooperation commission, the Burkinabe government denounced the agreement creating the bank.
“After 36 years of operation, the BCB is still faced with major difficulties which do not allow it to adequately achieve its objectives and comply with the requirements of the regulations in force at the national and sub-regional level,” we can say. read in the press release from the Ministry of the Economy.
We learn that since 1988, the State has supported 7 recapitalization operations for the benefit of the bank. Amount injected, 50 billion CFA francs. In addition, 177 billion FCFA of term deposits were operated by Burkinabè state companies as of December 31, 2023, to allow the BCB to operate.
“Faced with the status quo, many other functional difficulties and having not obtained any efforts from its partner, the Burkinabè State which holds 50% of the shares, in the same way as the Libyan party represented by the Libyan Foreign Bank, decided on December 12, 2023, to denounce the convention,” the press release continued.
As a reminder, BCB, in 2018, called for expressions of interest for the acquisition of 40% of its share capital. The reference partner had to pay around 7 billion FCFA. At the close of the call, two files had been received. The announced buyers, Coris Bank International and Vista Bank withdrew one following the other.
What will happen to the bank with the decision of the Burkinabe side? We will come back to this.
Writing
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