Africa Top Success reported it earlier, Coris Bank International (CBI) announced in Togo a few months ago, will start its activities in February. The second bank of Burkina Faso (behind Ecobank) has just appointed Seydou Sanou (46 years old) as the Managing Director for the Togolese subsidiary of the group. The current boss of Coris Bank International Togo was the manager of the risks and legal affairs for the group in Ivory Coast.
Coris Bank International is not landing on a virgin territory. These recent ten years, Togo has got an important establishment of foreign financial institutions. Orabank, Atlantic Bank, Bank of Africa are competing with other banks as Ecobank and the national financial institutions (Union Togolaise de Banque – (Togolese Bank Union) and the BTCI).
One of the advantages of the Coris Bank International is its high advanced policy of closeness. As reported earlier by Africa Top Success, the CBI, in order to get closer to its clientele, is equipped with mobile agencies on trucks of 12 meters long that offer banking services to its customers in Burkina Faso.
In front of the increasing competition and regarding the emergence of a new Togolese middle class worried about its comfort, the new bank will have to distance itself by its credit policies.
Original text by: Roger ADZAFO