The strengthening of the capital base of BNI Madagascar will increase its long-term financing capacity and support its development, which will improve access to banking services for populations.
BNI Madagascar is the result of the merger between two local banks, Crédit Foncier (founded in 1920) and Caisse de Crédit Agricole (founded in 1930). It is now the country’s second largest bank. BNI offers all the services of a universal bank (retail, corporate, SME banking, etc.). It has the 3rd largest network of bank branches in Madagascar and serves a client base of some 120,000 companies, SMEs, professionals and private customers.
Proparco’s financing will strengthen BNI Madagascar’s additional equity and support its development strategy – particularly for SMEs and private customers.
This operation will increase the local financing capacity in a country where long-term resources are not very well developed. It will support the development of the local economic base in key sectors for the country’s development. In addition, it will help improve access to financial services in a country where the rate of use of the banking system is extremely low.
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