Gabonese government to restructure three state-owned banks

Dec 16, 2016

The objective is to obtain a more efficient financing of the economy.

Three Gabonese public banks in difficulty, Habitat Bank of Gabon, Postbank and the Gabonese Development Bank, will be restructured.

For the Gabonese authorities, the salvation of these banks requires a comprehensive reform, with a view to obtaining a more efficient financing of the economy, according to the Ecofin agency.

The Gabonese Ministry
of the Economy, Finance, Budget & Privatisation
will start these reforms within the next two years. Reforms could include the transfer of all public banks' healthy assets to the Caisse des Depots et Consignations (CDC), which would become the main Gabonese public bank.

Toxic assets would be placed in an asset management company, in order to put them to economic use in a profitable manner.

Growth in Gabon remains relatively high at 4.5 per cent, despite the impact of the fall in hydrocarbon prices.

However, the situation is urging the Gabonese authorities to accelerate reform programs, including in the banking sector.ADNFCR-2976-ID-801830054-ADNFCR