Changes have taken place in the Beninese banking market in recent months, according to an update made at the end of May 2020 by the Central Bank of West African States.

In fact, the regional issuing institute based in Dakar (Senegal) announces the withdrawal of approval of the International Bank of Benin (BIBE), and its merger absorption by the African Bank for Industry and Trade. In addition, the latter changed its name and became the International Bank for Industry and Commerce (BIIC).

A reminder, the Beninese State had announced, in November 2017, its intention to acquire the share capital of BAIC while it was withdrawing from BIBE. According to the information, the share capital of the new entity will be increased to 24 billion FCFA divided into 2.4 million shares of nominal value each of ten thousand FCFA.