Banking Tycoon Idrissa Nassa Expands Coris Bank To Gabon, Strengthening African Footprint

Coris Bank International, the Burkina Faso-based banking group led by Idrissa Nassa, is expanding its reach to Libreville, the capital of Gabon. This move is part of the banks broader strategy to strengthen its position among Africas top financial institutions.

Earlier this month, Nassa met with Gabons transitional president, Brice Clotaire Oligui Nguema, who chairs the Committee for the Transition and Restoration of Institutions. Their discussion centered on the possibility of Coris Bank establishing a presence in Gaboneither by opening a subsidiary or acquiring a local bankaccording to a statement from the presidency.

This follows Coris Banks acquisition of Socit Gnrale Tchad in January 2024, reinforcing Nassas ambitions in Central Africa. While the banks attempt to acquire Socit Gnrale in Cameroon did not go as planned, it is now shifting its focus to Gabons banking market.

Since its founding in 2008, Coris Bank International has grown from a small institution with just 3 million in capital to a financial powerhouse managing 9 billion in assets. It now operates in Cte dIvoire, Mali, Togo, Senegal, Benin, Niger, and Guinea-Bissau. Under Nassas leadership, the bank has rapidly expanded its footprint.

In 2021, it launched Coris Bank International Guinea, which quickly became a key player in the countrys banking sector. Two years later, it acquired Standard Chartereds consumer banking business in Cte d'Ivoire, followed by the takeover of Socit Gnrales unit in Chad. Now, the bank is eyeing Socit Gnrale Mauritanie to further solidify its presence in the region.