Afriland First Bank

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Afriland First Bank

Company type	Joint stock
Industry	Finance
Founded	1987
Headquarters	1063 Place de l'Indépendance Yaoundé, Cameroon
Key people	Jean Paulin Fonkua Chairman^[1] Alphonse Nafack General Manager
Products	Financial services
Revenue	Aftertax: €19,186,000) (2016)^[2]
Total assets	€2.98 billion (2016)^[2]
Website	http://www.afrilandfirstbank.com

Afriland First Bank is a full-service bank in Cameroon, with subsidiaries in the Democratic Republic of the Congo, Equatorial Guinea, Guinea, Liberia, South Sudan, São Tomé and Príncipe and Zambia. The bank was founded in Yaoundé in 1987 under the name of Caisse Commune d'Epargne et d'Investissement. It is the largest financial services group in Cameroon.

Overview

The bank is a large financial services provider in with global customer deposits in excess of €2,840,404,000, as of December 2016. The bank with its subsidiaries around the world had a combined asset base valued at €2.98 billion in December 2016.^[2]

Subsidiaries

As of October 2019^[update] the bank maintains subsidiaries in the following countries:^[3]

Equatorial Guinea - CCEI Bank GE
São Tomé and Príncipe - First Bank São Tomé and Príncipe
Democratic Republic of the Congo - Afriland First Bank DRC
Liberia - Afriland First Bank Liberia
South Sudan - Afriland First Bank South Sudan
Guinea - Afriland First Bank Guinea
Ivory Coast - Afriland First Bank Ivory Coast
Zambia - Intermarket Bank (80 percent shareholding)^[4]

The banking group was granted a commercial banking license by the Bank of Uganda, in September 2019.^[5] After starting operations on 1 December 2020, the subsidiary voluntarily surrendered its banking license in May 2022, following a "strategic business review" by Afriland Group, who were the shareholders.^[6]