BANK OF AFRICA (BOA) Group is glad to announce the upcoming opening of a Representative Office in Addis Ababa, Ethiopia, of its subsidiary in Djibouti, BANK OF AFRICA-MER ROUGE. The license was granted on 21 January 2014.
BANK OF AFRICA Group is particularly honored by the confidence placed by the Ethiopian authorities in its subsidiary BOA-MER ROUGE and presents to them its sincere thanks and assurance that it will live up to this confidence.
Located in the center of the Ethiopian capital, this commercial Representative Office will enable BOA-MER ROUGE to develop its relations with Ethiopia. It will be managed by Mr Alemu Reba Demboba, previously in a major local bank, whose responsibilities will include facilitating and promoting relations between Ethiopian and Djiboutian business operators.
This Representative Office will commence its activities before the end of March 2014.
On BOA Group:
BANK OF AFRICA Group is presently established in 16 countries, of which 8 are in West Africa (Benin, Burkina Faso, Ivory Coast, Ghana, Mali, Niger, Togo and Senegal), 6 in East Africa and Indian Ocean (Burundi, Djibouti, Kenya, Madagascar, Tanzania and Uganda), in the Democratic Republic of Congo and in France, through a network of 15 commercial banks, 1 finance company, 1 housing bank, 1 stock brokerage firm, 2 investment companies, 1 asset management firm and 1 representative office in Paris.
Since 2010, BMCE Bank (the second largest private bank in Morocco) is the majority shareholder of BOA Group. BMCE Bank provides it with strong strategic and operational support as well as direct access to international markets thanks to its presence in Europe and Asia.
Established almost 30 years ago in Mali, BOA Group presently has 5000 staff members, a consolidated total balance sheet of EUR 4.4 billion and it made a consolidated net profit of EUR 56.2 million.
http://www.bank-of-africa.net/