While Moroccan and French banking groups have lost ground in 2020, major banking brands based in the West African Economic and Monetary Union (WAEMU) are making the effort to impose themselves despite the health crisis. BCEAO data indicate that in 2020, Ecobank maintained its position as the leading banking group in terms of market share in the WAEMU.

In 2020, the Ecobank Group continues to dominate the top of the most active banking groups. Nevertheless, it had to give up part of its market share over the period from 12.1% at the end of 2019 to 10.7% at the end of 2020. The main banking group whose parent company is located in Togo accounted for 13.5% of the sector's overall net income. In second place, we find Societe Generale with an estimated market share of 9.3% in 2020 against 10.1% in 2019. Thanks to the momentum of its 5 subsidiaries, the French giant achieved 14.4% of overall net income, the largest share. This was followed by Bank of Africa (BOA), Atlantic Business International (ABI), the Abidjan holding company of the Moroccan Banque Centrale Populaire (BCP), the parent company of Banque Atlantique, 9 subsidiaries. All these brands have lost market share during a year 2020, punctuated by covid-19. Pointing to 5th and 6th place, Coris Bank International (CBI) and Attijariwafa bank (AWB) held 7.6% and 6.8% market share in 2020. NSIA Bank stagnated in 7th place with a 3.5% share of the overall net income achieved by the banking sector over the period. The Nigerian UBA of businessman Tony Elumelu, thanks to its expansion strategy based on electronic solutions, and the Malian BDM are the two banking entities that have benefited from the downgrading of the Parisian behemoth BNP Paribas.