The Senegalese banking group BRM (Regional Market Bank) officially launched the activities of its Ivorian branch, 9, in Abidjan. An entry into the investment banking niche by which the group intends to succeed in a local banking system run by thirty institutions.
For Mansour Cama, chairman of the group’s board of directors, this establishment confirms the importance of Côte d’Ivoire, the economic engine of the WAEMU zone. “We are, he said, already active in the Ivorian economy where we invest in government securities since the start of our activities in Senegal in 2007”.
“We come to Côte d’Ivoire as an extension of our activities. We come to transfer the skills and experience that have been acquired in Senegal in Côte d’Ivoire where the market is much wider and deeper and therefore we hope to have much more volume and materials, “added Alioune Camara, General Manager of the group.
In fact, as a merchant bank offering financial engineering, investment, structured finance and business advisory services, BRM will also intervene via two other business units: as a market bank ( arrangement of securities issues, financial investments and hedging of foreign exchange risks and securitization), and asset manager (creation of OCPVM, management of mutual funds, creation of employee savings schemes for corporate accounts, etc.)
“What we bring more is to provide solutions for both borrowers and those who have money who want to place it including insurance companies, pension funds, etc.” “Alioune Camara notes that in addition to institutional, including SMEs, the BRM also targets individuals.
Present at the launch of the branch, Ivorian Prime Minister Gon Coulibaly praised the development of the banking landscape which offers new resource mobilization opportunities for major public investment projects.
In its ten years of existence, the BRM, also present in Niamey, Niger, claims more than 10,000 billion FCFA of cumulative financial and monetary flows, more than 120 billion FCFA of revenue generated and a cumulative GNP of 70 billion.
