On the 8th of June 2017, the Central
Bank (BCC) Governor has issued a statement to inform us the people « avis
au public » that Fibank was going to be liquidated…
However, the Governor wants to
reassure the bank’s customers that no one deposit will be lost as another
healthier bank, Afriland Firstbank, is taking over the (healthy) assets and
liabilities of the falling bank. This may prevent a rush to the cashiers’
desks…
Fibank RDC SA was a subsidiary of a
West Africa banking group with its head-office in Banjul, Gambia. The bank has
started operating in the DRC in February 2009.
The bank was under the management of
the Central Bank for the last 18 months due to poor performance (notably in terms
of non performing loans) with the mission of stabilizing the institution and
(hopefully) to reinforce it…
Whatever the reason for this
liquidation, this clearly demonstrates another failure from the banks regulator
in preventing another bank to get into trouble.
This is the second bank under BCC
supervision in less than 10 years that is liquidated and now all eyes are, once
again, on BIAC. Although, I think, economic operators have already factored in
the potential bankruptcy of BIAC; no one really knows how another bankruptcy
will impact people (low) confidence in our banking sector.
It is worth noting that Fibank was
one of the smallest banks while BIAC was the fourth largest bank in the DRC.
Today, it seems that the BCC is more
proactive in dealing with those issues although it may be already too late to
save BIAC…
On to the next good news…
1 comment:
Our regulator is not working as it should. How come in less than 24 months 2 banks are falling... where is that task, the main one as a Bank Master ? The supervisor of financial institution? This is unhelpfull because it will definitely impact on banking Market penetration as Well as on the banks U&A.
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