West African Economic and Monetary Union: Financial Depth and Macrostability
Patrick Imam and
No 2013/005, IMF Departmental Papers / Policy Papers from International Monetary Fund
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.
Keywords: DPPP; DP; interbank market; WAEMU bank; financial crisis; interest rate; debt market; WAEMU authorities; WAEMU country; WAEMU interbank market; WAEMU member states; Commercial banks; Financial sector development; Stress testing; West Africa; East Africa; Sub-Saharan Africa (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:imf:imfdps:2013/005
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in IMF Departmental Papers / Policy Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().