Commercial Bank Cameroon

Commercial Bank Cameroon

Industry	Finance
Founded	1997
Headquarters	Douala, Cameroon
Key people	Yves-Michel Fotso, President Jean Pierre Coti, Director General
Services	Banking
Net income	US$3 million (2007)
Total assets	US$309 million (2007)
Subsidiaries	SFA Financial Products
Website	Homepage

Commercial Bank Cameroon (CBC), also referred to as Commercial Bank of Cameroon, is a commercial bank in Cameroon. It is one of the fourteen (14) Cameroonian commercial banks licensed by the Central Bank of Central African States, the national banking regulator. The bank caters to both individuals and businesses through a variety of financial products. CBC is the flagship of the Commercial Bank Group, headquartered in Douala, Cameroon, with subsidiaries in Chad, Central African Republic, Equatorial Guinea and São Tomé and Príncipe.

History

In 1997, following the closure of the Cameroonian operations of several International banks, including Crédit Agricole, BICIC and Meridien BIAO, Cameroonian corporate investors, private Cameroonian citizens and the German Investment Corporation (DEG), pooled resources and put together FCFA 3 billion (approximately US$6.5 million) to start Commercial Bank of Cameroon. Over the years, the owners of CBC have expanded their operations to four other Central African countries.^[1] As of December 2007^[update], the Commercial Bank of Cameroon had an estimated capital base of US$19 million and total assets of about US$309 million.^[2]

Commercial Bank Group

As of October 2010^[update], the following companies comprise of the Commercial Bank Group: ^[3]

• Commercial Bank of Cameroon (CBC) - Cameroon
• Commercial Bank Chad (CBT) - Chad
• Commercial Bank Centrafrique (CBCA) - Central African Republic
• Commercial Bank Equatorial Guinea (CBGE) - Equatorial Guinea
• Commercial Bank São Tomé and Príncipe (CBSTP) - São Tomé and Príncipe
• SFA Financial Products - Cameroon - Commercial Bank Group has 51.4% shareholding.^[4]

Ownership

The stock of Commercial Bank Cameroon, is privately owned by Cameroonian and foreign investors. The major shareholders are listed in the table below: ^[5]

Commercial Bank Cameroon Stock Ownership

Rank Name of Owner Percentage Ownership 1 Fotso Group of Cameroon 2 SNAC Insurance Group of Cameroon 3 Private Cameroonian Investors 4 German Investment Corporation (DEG) 15.00 5 Other Non-Cameroonian Investors 13.06 Total 100.00 Branch network The bank maintains branches at the following locations: [6] Maroua Branch - Maroua Garoua Branch - Boulevard Lamido Hayatou, Garoua Bafoussam Branch - Avenue de la Republique, Bafoussam Akwa Branch - Boulevard de l'Unite, Akwa Douala Branch - Boulevard Charles De Gaulle, Douala Main Branch Yaounde Branch - Yaounde External links Website of Commercial Bank Cameroon (French & English Website of Central Bank of Central African States (French) Overview of Cameroonian Commercial Banks See also Commercial Bank Centrafrique Commercial Bank Group List of banks in Cameroon Central Bank of Central African States References ^ History of CBC ^ Estimated Financial Picture of CBC In 2007 ^ Members of Commercial Bank Group ^ About SFA Financial Products ^ Shareholding In Commercial Bank Cameroon ^ Branches of Commercial Bank Cameroon