BANGE Bank Cameroon officially opened its branch in Kibri on 30th September 2022. With the official opening of the doors of BANGE Bank Kribi, the Equatoguinean entity led by Manuel Osa Nsue Nsua now has 4 branches in the Republic of Cameroon, one year after taking the first step in the sub-region by opening the Douala and Yaounde branches.
Several speeches were given during the ceremony, including one from the President of the Board of Directors of BANGE S.A., Martin Crisanto Ebe Mba, who in his speech expressed the interest of our financial institution in participating in the development of the Cameroonian economy, providing services tailored to the needs of customers and facilitating financial transactions between Cameroon and Equatorial Guinea.
Among other topics, President Ebe Mba thanked the Heads of State of Equatorial Guinea and Cameroon for making possible the business climate experienced by both nations, and the National Bank of Equatorial Guinea. “I shall take this opportunity to pay tribute to their Excellencies Obiang Nguema Mbasogo and Paul Biya, and their respective governments, for working to create an enabling environment for business development, and most especially this banking institution, without which we would not be here.
On behalf of the entire team of directors from the BANGE Group, I would like to express once again our sincere thanks to the residents of the city of Kribi, who have welcomed us since our arrival.
BANGE S.A. made its debut in 2006, when it signed the deed of incorporation of the institution with a share capital of FCFA 2,000,000,000.
As part of its strategic plan, BANGE, which has around forty branches in Equatorial Guinea, is now expanding internationally. In addition to Equatorial Guinea and Cameroon, we now have a subsidiary in Spain and are working to establish ourselves in Ivory Coast, Benin, France and China.
This expansion will enable the bank to increase its volume of business. To that end, BANGE recently increased its share capital from FCFA 20 billion to 55 billion. The objective of that operation was to strengthen its equity in order to carry out its international expansion, thus giving greater credibility and solidity to its present and future subsidiaries. BANGE thus has significant equity, meets all prudential ratios set by COBAC and BEAC, and has a healthy portfolio covered by adequate collateral with excellent liquidity”, stressed the BANGE President of the Board.
It should be noted that BANGE is involved in intense activities related to its ambitious International Expansion Plan; proof of this is the opening of this new branch in Kribi, located in Petit Paris Street; an achievement that comes just after the recent start of BANGE’s listing activities on the Central African Stock Exchange (BVMAC), and the obtaining of authorisation from the Bank of Spain for our subsidiary in Madrid to operate as a Credit Financial Institution (EFC).
The official opening ceremony of BANGE Kribi was attended by administrative authorities from the Southern Region of Cameroon and the Equatoguinean Government; the Deputy General Manager of BANGE S.A., Pedro Abeso Obiang Eyang; the General Managers of BANGE Bank Cameroon and BANGE Société de Valeurs, Emilio Moyo Avoro and Juan Pablo Obiang Bikie, and other heads of departments from the institution.
Source: Official Web Page of the Government