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The BGFIBank Group: Relay of banks and companies active with the African continent

2022-01-07T15:08:20.689Z

The strong and historic link between Europe and Africa no longer needs to be demonstrated. Renowned for being one of the most powerful African banking groups, BGFIBank opened, more than 10 years ago, a European hub to enrich this relationship between the two continents. This establishment ...



A Group celebrating its 50 years of existence

Talking about BGFIBank Europe inevitably brings to light the history of the Group from which it stems.

Founded in 1971, BGFI Holding Corporation is an African financial group with private capital located in 12 countries and operating in 4 main businesses:

  • The corporate finance bank,

  • Commercial banking,

  • Private banking and asset management,

  • Specialized financing services and insurance.

The leading banking group in Central Africa, BGFIBank benefits from a strong influence thanks to a network organized in three large regions.

The Group was initiated just after the takeover of the assets of Paribas by private African players.

Very quickly, BGFIBank established itself as a leader in supporting businesses in Central Africa, before strengthening its presence on the rest of the continent.

In 2009, the Group pushed the boundaries of its commitment by setting up a hub in Europe.

At the time of the fiftieth anniversary, the Group is pursuing its path with an unchanged ambition, that of sticking as closely as possible to the social characteristics, economic realities as well as the financial needs of each of the markets in which it operates.

The BGFIBank Group: Relay for banks and companies active with the African continent BGFIBank

BGFIBank Europe or the European hub for business success

Since 2009, BGFIBank Europe has been involved in the financing of the entire supply logistics chain, from pre-financing to discount without recourse to bills endorsed by African banking structures.

The bank is based on three key businesses:

  • Trade and Export Finance: discount on bills, "Vanilla Trade Finance" products, issuance and confirmation of documentary credit, documentary delivery.

  • Commodity Trade Finance: pre-financing, financing of stocks under CMA, financing of agricultural campaigns.

  • Corporate Finance: BFR financing for exporting companies in sub-Saharan Africa, optimization of the management of trade flows thanks to the support of local subsidiaries.

More specifically, BGFIBank Europe acts as a bridge between African banks and companies present in Europe, as well as European companies established in Africa. This interconnection makes this Specialized Credit Institution (ECS), with a capital of 40 million euros and approved by the Banque de France, which has just granted it an extension of its authorization to operate, an ideal European hub for financing, the development, supervision and security of commercial and financial transactions between the two continents. BGFIBank Europe makes its knowledge of African countries and their economic challenges, its trump card. This expertise is reflected in particular by its qualified and proactive team on these subjects. Find tailor-made financing solutions, export raw materials,finance stocks, the bank accompanies and supports its customers in strict compliance with the legal framework.

Knowing how to seize opportunities in times of crisis

Chaired by Henri-Claude Oyima, a banker who has obtained several international and continental awards for his pragmatic and innovative management style, the Group has shown resilience during this half-century of practice, particularly during the international crises it has experienced.

That of Covid-19 is the latest illustration.

Despite this context of global health and economic crisis, BGFIBank recorded in 2020 a record result, up 114%.

The 2020 financial year ends with these main aggregates:

  • A balance sheet total of 5.36 billion euros,

  • Customer deposits of 3.48 billion euros,

  • Customer loans of 3.41 billion euros,

  • Net income of 68 million euros.

These promising figures only set the Group's success and its daily commitment in stone. In this sense, BGFIBank has initiated its new “Dynamique 2025” project, as a strategic plan which aspires to consolidate the status of the Group leader in its various businesses. Greedy in ambitions, BGFIBank has a development model based on concentric circles, which intends to continue over the next few years. Seizing the opportunities and potential of the markets, but also supporting the organic growth of its customers, BGFIBank makes international openness its leitmotif.

By creating wealth around companies, the BGFIBank Group aspires to develop its network of influence while mastering the geographic areas where it is already present.

Supporting the economy, but without setting aside ecology, the Group ensures that investments do not destroy the environment.

Its ISO 9001 certification on several of its subsidiaries, as well as its AML 30,000 certification, contribute in this sense to advocating ethical excellence, in favor of people and their resources.

Source: lefigaro

All business articles on 2022-01-07

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