Cameroon – Banks: Banque Atlantique Cameroun increases its share capital by CFAF 28 billion

“In line with its commitments to its partners and shareholders, Banque Atlantique Cameroun has decided to increase its share capital by CFAF 28 billion“. This is the message that the Cameroonian

subsidiary of the Ivorian banking group Banque Atlantique has been broadcasting since 12 July 2017.

By choosing to be unconstrained, the banking institution simply says that this recapitalization corresponds to “a whole new vision and many changes“. And adds: “Banque Atlantique is more than ever at the heart of investment in Cameroon“.

But in all likelihood, this capital increase was materialized at the general meeting of May 15, 2017. Because with a share capital of CFAF 5.5 billion at the end of 2014, Banque Atlantique Cameroun was to be in line with the standard of the Central African Banking Commission (Cobac), which required banks to raise their minimum capital to CFAF 10 billion by 31 December 2014 at the latest.This Cameroonian subsidiary was born in 2010 on the ashes of Amity Bank which had fallen into bankruptcy. The buyer then had an investment of 3 billion FCFA. However, the transaction was immediately denounced by the shareholders of Amity Bank, who considered that all avenues of redress for the defunct bank have not been explored.

Source: Kmer SAGA