Basic Bank Information
The Bank of Côte d'Ivoirienne de Banque (full name: Société Ivoirienne de Banque, abbreviated as SIB) is a commercial bank founded in 1962 and headquartered in Abidjan, Côte d'Ivoire, with specific address at 4 Boulevard de la République, immeuble SIB, Abidjan 01. SIB is controlled by the Moroccan group Attijariwafa Bank, which has held 51% of the shares since 2009 and increased its stake to 75% in 2015 through its subsidiary Attijari Ivoire Holding Offshore SA, with the remaining 25% held by the Government of Côte d'Ivoire. SIB has been listed on the West African Regional Stock Exchange (BRVM) since 2016 under the ticker symbol SIBC, indicating its public listing character.
As of 2019, SIB has 66 branches and 2 corporate service centers in Abidjan and 21 cities across the country. ATM networks are widely located in major cities and towns, providing customers with convenient cash deposit and withdrawal services. SIB serves more than 300,000 customers, including individuals, professionals, SMEs and large enterprises, catering to retail.
Financial health
SIB's financial performance reflects its solid position as a leading bank in Côte d'Ivoire. According to 2024 data, SIB achieved a net profit of 50.234 billion CFA francs (about 80.374 million US dollars), a year-on-year increase of 15.44%, showing strong profitability and risk management capabilities. As a member bank of the West African Monetary Union (UEMOA), SIBs are required to comply with the regulatory requirements of BCEAO, including maintaining certain capital adequacy and liquidity standards. In 2023, the average non-performing loan ratio of the banking sector in Côte d'Ivoire is 4.9%, and SIB, as a leading bank, expects the non-performing loan ratio to be lower than the industry average.
In 2024, SIB's social capital increased to 20 billion CFA francs (about $32 million), indicating its strong financial foundation. Despite the challenges posed by international sanctions and the economic environment, SIB's Attijariwafa Bank Group background and government support have enhanced its stability.
Deposit & Loan Products
SIB offers a wide range of deposit products, including demand deposits, term deposits and high-yield savings accounts, in a variety of currencies such as West African CFA franc (XOF), US dollar (USD) and euro (EUR). Specific products include:
- Demand Deposits: Such as Current Account and Salary Account, which are suitable for daily expenses, with low interest rates but high flexibility.
- Fixed deposits: offer higher interest rates with maturities ranging from months to years, making them suitable for long-term savings.
In terms of loans, SIB provides housing loans, car loans, personal lines of credit and corporate financing, with a focus on supporting agriculture and small and medium-sized enterprises:
- Mortgages: support first-time buyers and real estate investments, with flexible interest rates and repayment terms.
- Car loans: provide financial support for car purchases with competitive interest rates.
- Personal Line of Credit: For consumer needs such as home renovation and travel, it offers fast approval and flexible repayment options.
- Corporate loans: support the financing of agricultural projects such as coffee and cocoa.
Digital service experience
SIB's digital services are one of its core competencies, and its mobile banking application SIBNET and online banking platform provide convenient financial management tools. SIBNET supports functions such as account management, real-time transfers, bill payments (e.g. utility bills), deposit opening, credit card management, ATM locatoring, and loan simulation, and provides biometrics such as facial recognition and fingerprint login. With a rating of 3.4 on Google Play (based on 307 reviews), SIBNET shows some user acceptance, but there is room for improvement.
Quality of customer service
SIB provides multi-channel customer service, including:
- 24/7 phone support: contact by phone (+225 20 20 00 00).
- Live chat: via [SIB official website]
- Social media response: via [Facebook]
security measures
SIB's deposits are protected by the West African Monetary Union Deposit Insurance and Settlement Fund (FGDR-UMOA), with an undisclosed maximum amount of insurance, but providing security for client funds. Banks use real-time transaction monitoring and multi-channel risk assessment systems to prevent financial fraud. In terms of data security, SIB adheres to a strict privacy policy and has not seen any major data breaches in its history, so customers should update their passwords regularly and pay attention to bank security tips.
Featured Services & Differentiation
SIB is known in the Ivorian banking sector for its agricultural financing and community involvement. Featured services include:
- Agricultural financing: support for agricultural projects such as coffee and cocoa, participation in national agricultural programs.
- SME support: Partnered with the International Finance Corporation (IFC) to provide SME loans, with a focus on supporting women entrepreneurs.
- Green Finance: Supporting ESG investment, winning the "Best Bank for ESG Principle Practice" award in 2023.
Market Position & Accolades
SIB is the fourth largest bank in Côte d'Ivoire (2019 data), ranking fourth and third respectively in terms of customer deposits and loans. In 2024, its social capital will increase to 20 billion CFA francs, demonstrating its competitiveness in the market. SIB has received several international awards, including:
- 2017 "Best Financial Institution in Côte d'Ivoire" (Presidential Award of Excellence).
- "Bank of the Year" award 2018 (The Banker magazine).
- 2021 "Best Innovative Bank" (The International Banker).
-Summary
of the 2023 "Best Retail Bank Innovation" and "Best ESG Bank in Practice" awards
The Banco de Côte d'Ivoire (SIB) is a long-established and well-serviced commercial bank, known for its extensive service network, solid financial performance and high-quality customer service. As part of the Attijariwafa Bank Group, SIB occupies an important position in the financial markets of Côte d'Ivoire, providing customers with a convenient and efficient financial experience with its digital services and innovative products. Despite the challenges posed by international sanctions and the economic environment, SIB's government background and market position make it competitive in Côte d'Ivoire and international markets. When choosing a SIB, clients should pay attention to their latest financial data and policies to ensure that they meet their personal or business needs.
