West African financial markets show growth in banking assets and stock capitalization

The West African Monetary Union (UMOA) banking sector showed increased financial stability in 2025. Total assets for credit institutions in the union reached 82,298.8 billion FCFA, a 14.1% annual increase. Côte d’Ivoire and Senegal remain the dominant markets, accounting for 57.1% of regional banking assets.

In Benin, the banking landscape is led by the Banque Internationale pour l’Industrie et le Commerce (BIIC), which held a total balance sheet of 1,886.8 billion FCFA at the end of 2025, nearly double its closest competitor, BOA Bénin. Benin holds 9.2% of the UMOA banking assets.

In Togo, Orabank Togo maintains the largest market share with a balance sheet of 771.9 billion FCFA, followed by Ecobank Togo and Coris Bank International Togo. The Togolese market is characterized by low concentration.

On the regional stock exchange (BRVM), market capitalization surpassed 20,000 billion FCFA as of August 2026. Recent market activity saw indices rise, driven largely by a rebound in SONATEL shares, which contributed significantly to the BRVM-Composite index growth.