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Cameroon: the IMF asks the State to withdraw from shareholding in two banks

21/03/2022
Categories: General Information
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The International Monetary Fund (IMF) has urged the State of Cameroon to withdraw from the shareholding of Union Bank of Cameroon (UBC) and National Financial Credit (NFC Bank). There is talk of continuing to clean up the national banking sector in accordance with the regulatory provisions of the Central African Banking Commission (CEMAC). In difficulty for several years, the two banks were saved from bankruptcy last year when the public authorities injected 47 billion FCFA (8.5 million dollars) into them with a view to their recapitalization. The regulator was then under the influence of sanctioning them by pronouncing their liquidation.

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