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Cote d'Ivoire Banking & Financial Services Q3 2019

Cote d'Ivoire Banking & Financial Services Q3 2019

Key View:

The banking and financial services sector in Cote d’Ivoire represents an attractive market in the West Africa region. Wepoint to rising private consumption levels as a strong tailwind, as this is driving increased demand for financial services as morehouseholds become banked. The country's strong regulatory environment is also appealing to potential overseas players, as thereare few caps on foreign involvement in the sector, and the regulatory regime for banks, insurance companies and listed companiesis very uniform with Cote d’Ivoire’s regional peers via its West African Economic and Monetary Union (UEMOA) membership. Suchconditions have provided a backdrop for foreign operators such as VISA and Western Union to set up their West Africanheadquarters in the country. In the banking sector, we see lending activity increasing by 13.5% in 2019, and accelerating by 14.3%over our five-year forecast period, as economic growth accelerates and several sectors increase their demand for credit. In turn, thiswill support an increase in forecast total banking assets by 15.0% in 2019 and by a y-o-y average rate of around 13.0% through to2023. We are bullish in our outlook for both the Life and Non-Life insurance sectors. Within this, we forecast life premiums to beginour forecast period accounting for a greater share of gross insurance premiums than non-life premiums by a ratio of 54.2% to45.8%. Across the course of our ten-year forecast period to 2028, however, we see life premiums overtaking non-life premiums toclaim a larger percent share of gross premiums in Cote d'Ivoire's broader insurance market, with the tipping point occurring in2022. While the country's asset management industry remains small, we see plenty of upside potential fuelled by strong economic


Key View
SWOT
Banking & Financial Services SWOT
Banking
Banking Snapshot
Credit Growth To Rise On Higher Demand From Ivorian State And Economy
Forecast Tables
Competitive Landscape
Regulatory Environment
Insurance
Insurance Snapshot
Competitive Landscape
Regulatory Environment
Asset Management
Asset Management Snapshot
Competitive Landscape
Regulatory Environment
Stock Exchanges
Stock Exchanges Snapshot
Competitive Landscape
Regulatory Environment
Macroeconomic Overview
Ivorian Growth To Accelerate In 2019 On Higher Cocoa Production
Macroeconomic Forecasts
Cote d`Ivoire Demographic Outlook
Banking & Financial Services Methodology

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