The Togolese branch of Coris Bank International, part of a Burkina Faso banking group, reported that its total assets grew from CFA428 billion in 2021 to CFA528 billion by September 2024, thus up 23%.
The bank’s director, Alassane Kaboré, reported the figure on the sidelines of the lender’s 10th anniversary on February 20, in Lomé. The surge confirms the bank’s growth dynamic; In 2021, Coris was Togo’s third largest bank by assets.
By the end of September 2024, customer deposits were at CFA310 billion. Meanwhile, credits net of provisions were at CFA206.9 billion, up 15.7% compared to September 2023.
Coris Bank Togo claims to take a unique approach to banking and currently serves over 79,000 banking customers and 196,000 users of its e-wallet service. Director Alassane Kaboré attributes the achievement to service variety and the bank’s reach–17 branches and 16 ATMs.
According to Kaboré, Coris’ performances reflect major changes in Togo’s banking sector and demonstrate the ongoing transformation of financial services.
