West African Economic and Monetary Union: Financial Depth and Macrostability

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Price:  $25.00

Author/Editor: Patrick A Imam, Christina Kolerus
Release Date: © October, 2013
ISBN : 978-1-48434-822-2
Stock #: WFEMUEA
English
Stock Status: On back-order

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Description

The financial system in the WAEMU remains largely bank-based. The banking sector comprises 106 banks and 13 financial institutions, which together hold more than 90 percent of the financial system’s assets (about 54 percent of GDP at end-2011). Five banks account for 50 percent of banking assets. The ownership structure of the sector is changing fast, with the rapid rise of foreign-owned (pan-African) banks. This contributes to higher competition but also rising heterogeneity in the banking system, with large and profitable cross-country groups competing with often weaker country-based (and sometime government-owned) banks. Nonbank financial institutions are developing quickly, notably insurance companies, but remain overall small. This paper presents a detailed analysis of the banking system.




More publications in this series: Departmental Papers / Policy Papers


More publications by: Patrick A Imam ; Christina Kolerus