Pan-African Banks - Opportunities and Challenges for Cross-Border Oversight

Volume/Issue: Volume 2014 Issue 090

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Topics covered in this book

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Banks and Banking , Finance , PP , central bank , holding company , BNP Paribas , commercial bank , bank resolution , parent bank , cross-border bank , pan-African banking groups , bank holding , insurance fund , banking sector , bridge bank power , Pan-African bank , Basel II , Cross-border banking , Foreign banks , Financial sector stability , International Financial Reporting Standards , Africa , Global , West Africa , Sub-Saharan Africa

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Summary

There has been a rapid expansion of pan-African banks (PABs) in recent years, with seven major PABs having a presence in at least ten African countries: three of these are headquartered in Morocco, two in Togo, and one each in Nigeria and South Africa. Additional banks, primarily from Kenya, Nigeria, and South Africa, have a regional presence with operations in at least five countries. PABs have a systemic presence in around 36 countries. Overall, the PABs are now much more important in Africa than the long-established European and American banks.