NSIA Banque CI, a banking institution listed on the BRVM (Bourse Régionale des Valeurs Mobilières), continues the integration of the Ivorian branch of NSIA Banque Bénin, after the authorization of the Regional Council for Public Savings and Markets Financials (CREPMF) obtained on December 4, 2020.

The transaction will take the form of a partial contribution of assets from the Ivorian branch of NSIA Banque Bénin (formerly Diamond Bank SA). It is subject to the legal regime of the division, in accordance with Article 195 of the Ohada Uniform Act on The Law of Commercial Companies and the EIG (AUSCGIE), and will lead NSIA Banque Bénin to transmit a net asset of 6,427,171,508 CFA francs to NSIA  Banque Côte d'Ivoire, based on the accounts as at 31 December 2019.

1,564,572 shares of NSIA Banque CI, with a nominal value of 1,000 CFA francs each, will be created and distributed among the shareholders of NSIA Banque Bénin, a contributing company. The issuance of new shares will be led by NSIA Finance, the management and intermediation company of the < a href="https://www.koaci.com/recherche?search=NSIA" group >NSIA.

"This transaction announced on the market since 2019 has obtained the authorization of the CREPMF. The consequence for NSIA Bank CI is an increase in the share capital. The new shares that will be created will be admitted to the brvm's listing. " said Ms Eliane ALANGBA, Deputy Director General of NSIA Finance.

The transaction had previously received the favourable opinion of the Banking Commission on 27 March 2020 and the approval of the Ministry of Economy and Finance of Benin on 29 May 2020.

The Boards of Directors of NSIA Banque Bénin and NSIA Banque CI, meeting on June 14, 2019, had adopted the draft treaty of partial contribution of assets that had been submitted to them. This Treaty was revised during the 19 October 2020 session of the Bank's Board of Directors, based on figures as at 31 December 2019. The effective date of the transaction has been set for 1 January 2020. The Extraordinary General Meeting held on November 9, 2020 approved the terms of the transaction.

Mr. Léonce YACE, Chief Executive Officer of NSIA Banque CI welcomed this significant step forward in the takeover process: "We have been waiting for several months for the completion of the integration process of the Ivorian branch of the French-speaking subsidiary of the Diamond Bank Group acquired in 2017. We are entering the final stage of this journey. This takeover augurs new horizons and opportunities for our customers, Companies and Individuals, who will be able to benefit in the medium term from the group's synergies NSIA in the countries where our brand is established. We thank all our employees for their commitment to the conduct of this project that began in 2017. We are pleased to welcome new employees and a new clientele to the house NSIA. »

On the commercial side, the next deadlines will be to assign new account numbers and payment methods to customers from Diamond Bank CI with an indication of the destination bank branches. Further information will be communicated to customers in due course.

A communication campaign with the signature "With NSIA Bank, let's think bigger in 2021" will materialize the ambitions of the Ivorian bank for the coming years as contained in the Strategic Plan 2020-2024.

The completion of this external growth operation demonstrates the group's constant desire NSIA to become a major banking player on the African continent.