AFG Bank
 | |
| Type | Private bank |
|---|---|
| Industry | Financial services |
| Founded | 1978 |
| Headquarters | , |
Number of locations | 150 (2025) |
Area served | West Africa |
Key people | Kouakou Abissa[1] (Chairman) Sionlé Yeo[2] (CEO) |
| Total assets | USD 4,9 billion (2025) |
Number of employees | 2300 (2025) |
| Website | www |
AFG Bank, (Atlantic Financial Group) is a major Ivorian bank. It operates as a bank in nine African countries. It also offers Insurance services.
Gabon is the bank's largest market, where it operates more than 20 branches and where it reports total assets of 1.4 trillion CFA francs.[3]
History
In 1978, a group of Ivorian investors acquired the Ivorian operations of the French bank Crédit Industriel et Commercial. In 1992, they acquired Barclays in Côte d'Ivoire.[4]
In 1997, the group decided to create Compagnie Bancaire de l'Atlantique Côte d'Ivoire, a subsidiary of Banque Atlantique. The decision to merge the two banks was made on June 20, 2008. This merger put an end to the confusion that existed among some customers regarding the group's various banking brands in Côte d'Ivoire. The merger became effective on January 2, 2009.[5]
In 2012, the group sold the majority of its banking assets to Banque Populaire.[6] At that time, many believed the group would permanently withdraw from the banking sector to focus on industry and telecommunications. Far from stopping, the group reorganized under the banner of Atlantic Financial Group (AFG).[7]
In December 2020, AFG Bank signed an agreement with BNP Paribas to acquire its operations in the Comoros, Madagascar (through the acquisition of BNI Madagascar), Gabon (through the Banque Internationale pour le Commerce et l'Industrie du Gabon),[8][9] and Mali (through BICIM).[10]
In 2024, AFG acquired a majority stake (over 76%) in Access Microfinance. The acquisition concerned only the African subsidiaries. Thanks to this acquisition, the group expanded its footprint to Liberia, Rwanda, and Zambia.[11]
In August 2025, AFG acquired all of Société Générale Guinée's shares (approximately 57.9%), as well as its entire customer portfolio and staff.[12] On December 23, 2025, the bank changed its name to AFG Bank Guinée.[13]
International operations
Benin: (AFG Assurance).
Cameroon: (AFG Bank Cameroun and AFG Assurance).
Comoros: (AFG Bank Comores; Wholesale banking and AFG Assurance).
Ivory Coast: (AFG Bank Côte d'Ivoire and AFG Capital CMAC through BRVM).
Gabon: (AFG Bank Gabon).
Guinea: (AFG Bank Guinée).
Madagascar: (AFG Bank Madagascar; Wholesome banking and AFG Assurance).
Mali: (AFG Bank Mali and AFG Assurance).
Mauritius: (AFG Capital Maurice, through Stock Exchange of Mauritius).
See also
References
- ^ "Kouakou Anzoua Abissa, l'homme qui consolide l'ascension d'Atlantic Group". Africa Truth (in French). 2026-02-22.
- ^ "A tandem at the helm of AFG Holding SA". Financial Afrik. 2021-06-01.
- ^ Yabangoye, Tokyo (2026-05-29). "Dépôts, crédits, bilan : tous les voyants sont au vert pour AFG Bank Gabon". Gabonreview.com | Actualité du Gabon | (in French).
- ^ "[:fr]Notre histoire[:en]Our history[:] -". AFG Holding (in French).
- ^ "Le groupe Atlantique achève sa mue". Jeune Afrique (in French). Archived from the original on 2024-12-14. Retrieved 2026-05-30.
- ^ "Fiançailles entre la Banque Populaire du Maroc et le groupe Banque Atlantique". Agence Ecofin (in French).
- ^ "Koné Dossongui and Mohamed Karim Mounir seal a new agreement between AFG and BCP - Africa Business+". Africa Business+. 2021-04-19.
- ^ "AFG finalise l'acquisition des filiales BNP Paribas au Gabon, au Mali et aux Comores". Direct Infos Gabon (in French). 2020-12-16.
- ^ "AFG finalise l'acquisition des filiales BNP Paribas aux Comores, au Gabon et au Mali". Agence Ecofin (in French).
- ^ "Mali: La BICIM et Atlantique assurances deviennent AFG Bank et AFG assurances". Le Continent (in French). 2024-05-10.
- ^ "AFG completes acquisition of Access Holding". Africa Business+. 2024-09-17.
- ^ "AFG reprend Société Générale Guinée : FINACTU signe un nouveau succès en conseil bancaire". Financial Afrik (in French). 2025-08-15.
- ^ "Changement de dénomination Société Générale Guinée en AFG Bank Guinée (communiqué de presse)". Guinéenews (in French). 2025-12-22.
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