BNI MADAGASCAR: a player committed to financial inclusion

BNI (a former subsidiary of Crédit Lyonnais/Crédit Agricole) is the main bank in Madagascar, with the largest banking network in the country (over 100 branches, including in remote areas), an extensive client base (about 700,000), and the leader in terms of market share for loans (26.5%) and deposits (25.1%) at the end of 2020. With the health crisis in Madagascar, BNI has managed to remain the main contributor to the country’s economy.

Madagascar’s leading bank is committed to sustainable development. The banking institution is also one of the key players in the economy and an essential partner of the Madagascar Emergence Plan.

Proparco has allocated a EUR 10m loan to strengthen the bank’s capital base and support its growth strategy. This loan is combined with a technical assistance program for the bank’s microfinance subsidiary KRED, which will allow the bank to continue its commitment to financial inclusion.

This subordinated loan will support over 300,000 jobs over the next 5 years and will promote financial inclusion in Madagascar. Indeed, as Madagascar’s largest banking network, BNI is also present in remote areas and thereby meets the needs of the population nationwide.