BOA-Mali listed on the BRVM

Jun 03, 2016

The Malian subsidiary of Bank of Africa has made its debut on the West African stock exchange.

Bank of Africa-Mali has formally entered the Bourse régionale des valeurs mobilières (BRVM) - the financial market of the WAEMU region - on May 31.

This listing comes nearly six months after the launch of a public offering of 400,000 shares in BOA Mali.

It becomes the first Malian company listed on the stock exchange, based in Abidjan, and joins the other five subsidiaries of BOA.

According to the bank, the capital opening will contribute to "strengthening its financial resources to further its development" and will "improve and strengthen prudential ratios enacted in banking regulations."

It said this will also enhance the bank's reputation and allow for a better valuation of the company.

In 2015, BOA Mali generated a net banking income of 30.2 billion CFA francs (€46.1 million), up 14.4 per cent compared to the previous year, along with a credit growth of 14.6 per cent.ADNFCR-2976-ID-801819670-ADNFCR