NSIA Banque CI, a banking institution listed on the BRVM (Regional Stock Exchange), is continuing to integrate the Ivorian branch of NSIA Banque Bénin, after the authorization of the Regional Council for Public Savings and Financial Markets (CREPMF) obtained on December 4, 2020.

The operation will take the form of a partial contribution of assets from the Ivorian branch of NSIA Banque Benin (formerly Diamond Bank SA). It is subject to the legal regime for division, in accordance with article 195 of the OHADA Uniform Act on Commercial Companies and GIE Law (AUSCGIE), and will lead NSIA Banque Bénin to transfer net assets of 6,427 171,508 F CFA to NSIA Banque Côte d'Ivoire, based on the accounts as of December 31,

1,564,572 shares of NSIA Banque CI, with a nominal value of 1,000 CFA francs each, will be created and distributed among the shareholders of NSIA Banque Bénin, the transferring company.

“This operation, announced to the market since 2019, has obtained authorization from CREPMF. The consequence for NSIA Banque CI is an increase in share capital. The new shares that will be created will be listed on the BRVM.

The operation had previously received the favourable opinion of the Banking Commission on 27 March 2020 as well as the approval of the Ministry of Economy and Finance of Benin on 29 May 2020.

The Boards of Directors of NSIA Banque Benin and NSIA Banque CI, meeting on 14 June 2019, had finalized the draft partial asset transfer treaty that had been submitted to them. This treaty was revised during the session of the Bank's Board of Directors on 19 October 2020, on the basis of the figures adopted on 31 December 2019. The effective date of the transaction was set to January 1, 2020. The Extraordinary General Assembly, meeting on November 9, 2020, approved the terms of the operation

Mr. Léonce YACE, CEO of NSIA Banque CI, welcomed this significant advance in the takeover process: “we have been waiting for several months for the end of the integration process of the Ivorian branch of the French-speaking subsidiary of the Diamond Bank Group acquired in 2017. We are beginning the final stage of this journey. This takeover bodes new horizons and opportunities for our customers, Businesses and Individuals, who will be able to benefit in the medium term from the synergies of the NSIA Group in the countries where our brand is established. We thank all our collaborators for their commitment in leading this project, which began in 2017. We are happy to welcome new employees and new customers to the NSIA house.

On the commercial side, the next deadlines will consist of allocating new account numbers and payment methods to customers coming from Diamond Bank CI with an indication of the destination bank branches. More information will be communicated to customers in due course.

A communication campaign with the signature “With NSIA Bank, let's see bigger in 2021” will materialize the ambitions of the Ivorian bank for the coming years as contained in the 2020-2024 Strategic Plan.

The completion of this external growth operation demonstrates the continued desire of the NSIA Group to become a major banking player on the African continent.