CBAO

What CBAO does

CBAO (Compagnie Bancaire de l'Afrique Occidentale) is the leading bank in Senegal, tracing its origins to 1853 when it was established as Banque du Sénégal by decree of Napoleon III. Following a series of transformations (Banque de l'Afrique Occidentale in 1901, BIAO in 1965, rebrand to CBAO in 1993), the institution was acquired by Moroccan group Attijariwafa Bank in November 2007 and now operates as a wholly-owned subsidiary within the largest banking and financial group in the Maghreb. CBAO serves the full Senegalese banking market across retail individuals, liberal professionals, civil servants, SMEs, large enterprises, and institutional clients, with the largest branch network in Senegal (80+ agencies) and additional reach via Attijariwafa Bank Europe branches in France, Italy, and Spain for diaspora services.

The bank's product architecture is organized as a platform-plus-modules offering. Retail banking is anchored by tiered packaged accounts (YEKSIL, TERANGA, PRESTIGE) with Visa Electron, Visa Classic, and Visa Gold cards respectively, salary-advance facilities (30–70% of domiciled income), consumer/auto/mortgage credit, the Kalpé international prepaid card, and bancassurance products (AssurCompte, Age d'or Retraite, Plan Epargne Education, SECUR'JAMM). Professional and corporate segments are served through the Prolib package, the Fonctionnaire offer, CBAO Net web banking, Flash Bank SMS alerts, Online Trade for international operations, E-Alertes, and a structured catalogue of short- and medium-term credit facilities (Facilité de Caisse, Crédit Spot, Crédit de campagne, Crédit d'investissement, Crédit-Bail). Investment products include term deposits (Compte à terme), Bons de Caisse, Capital Plus, and Attijari Patrimoine OPCVMs distributed via Attijari Asset Management.

Digital channels center on CBAO Mobile (iOS/Android) for self-service banking, with integrations to Orange Money, Woyofal electricity tokens, and Rapido transport cards, alongside CBAO Net for corporate cash management. Money transfer is delivered through TRANS'PACK (Trans'espèces, Trans'Compte, Trans'Vir, Trans'Chèque) leveraging Attijariwafa Bank Europe. Revenue is generated through interest income on lending, subscription fees on tiered accounts and insurance premiums, transaction and interchange fees, foreign exchange, and investment-product spreads. CBAO also operates the Club Afrique Développement pan-African B2B networking platform under the Attijariwafa Bank group, which has facilitated 33,000+ business meetings since 2010 and convenes missions across 11+ African countries.

Name

CBAO

Legal name

CBAO GROUPE ATTIJARIWAFA BANK, Société Anonyme avec Conseil d'Administration

Website

https://cbaobank.com

Company type

Private

Founded year

1853

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

CBAO is the leading bank in Senegal and a wholly-owned subsidiary of Morocco's Attijariwafa Bank Group, providing universal banking — retail, professional, corporate, and institutional — through 80+ branches, CBAO Mobile, and a full suite of credit, insurance, investment, and trade-finance products across Senegal and the UEMOA region.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• Commercial banking
• Consumer lending
• Corporate banking
• Mobile banking

Headquarters

HQ city

Ouagadougou

HQ country

Burkina Faso

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: Interest earned on lending products including consumer credit, auto loans, mortgage financing, and business credit facilities
2. Account Management Fees: Monthly or annual fees for account packages including YEKSIL, TERANGA, and PRESTIGE tiers with varying service levels
3. Insurance Premiums: Bancassurance products including life insurance, education savings plans, retirement accounts, and SECUR'JAMM funeral insurance
4. Transaction Fees: Fees on money transfers, payments, card transactions, and foreign exchange operations
5. Card Commission: Interchange fees and commission revenue from debit and credit card transactions
6. Investment Products: Management fees and spreads on term deposits, savings accounts, treasury bills, and Capital Plus investment products

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

CBAO is a universal bank providing retail, professional, and corporate banking services in Senegal, including deposit accounts, consumer and mortgage credit, prepaid and bank cards, money transfers (including diaspora services), insurance and bancassurance, investment products, and international trade finance. It distributes these services through 80+ branches, the CBAO Mobile app, CBAO Net web banking, a 24/7 contact center, and the Attijariwafa Bank Europe network for diaspora clients.

Product overview

CBAO (Compagnie Bancaire de l'Afrique Occidentale) is a universal banking group and subsidiary of Attijariwafa Bank, operating as the leading bank in Senegal. Its product portfolio is organized as a platform-plus-modules architecture serving retail, professional, and corporate segments. Retail banking is anchored by account packages (YEKSIL, TERANGA, PRESTIGE), consumer and mortgage lending, international prepaid cards (Kalpé), and bancassurance (AssurCompte, Age d'or Retraite, Plan Epargne Education, SECUR'JAMM). Professional banking centers on the Prolib package and the specialized Fonctionnaire offer. Corporate and institutional clients access cash management tools (CBAO Net, Flash Bank, Online Trade, E-Alertes), investment and working capital credits, leasing, international trade services (documentary collections, letters of credit, guarantees), and structured placements (Compte à terme, Bons de Caisse, Capital Plus, Attijari Patrimoine). Digital channels include CBAO Mobile (mobile banking with Orange Money, Woyofal, and Rapido integrations) and CBAO Web Banking. Cross-cutting services include TRANS'PACK and its sub-products for diaspora money transfers, administrative bonds for public procurement, and the Club Afrique Développement networking platform. Partnerships with Wafa Assurances Vie Sénégal, Wafa Cash, and Attijari Asset Management extend the product ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• Prolib: A comprehensive and personalized banking offer for liberal professionals including doctors, lawyers, notaries, and architects.
• Offre Fonctionnaire
• Kalpé
• Jigeen Jambaar

Products and services

• TRANS'PACK Money Transfer Service International money transfer solution for Senegalese residents abroad, enabling transfers from Attijariwafa bank Europe branches in France, Italy, and Spain into CBAO accounts in Senegal through four channels.
• AssurCompte Insurance Death and absolute permanent disability insurance providing a predetermined capital payout to beneficiaries, with annual premiums starting at 4,700 FCFA and coverage up to 30 million FCFA.
• Age d'or Retraite Retirement Plan Retirement savings plan with flexible periodic contributions, guaranteed capital in case of death or disability, guaranteed minimum return, and supplementary return based on generated profits.
• Plan Epargne Education Savings plan designed to finance children's higher education or facilitate their entry into working life, with guaranteed terminal capital and supplementary returns from profit distribution.
• SECUR'JAMM Funeral Insurance Funeral solidarity insurance enabling rapid payout of designated capital to a beneficiary to cover funeral organization costs, for clients aged 18-65 with annual premiums from 4,500 FCFA and capital options of 600,000 FCFA or 1,200,000 FCFA.
• Crédit à la Consommation (Consumer Credit) Consumer credit for financing personal projects, offered with flexible terms tailored to borrower needs.
• Crédit Auto (Auto Loan) Vehicle financing product for purchasing a new car, payable up to 5 years, with CBAO handling all financial and administrative formalities.
• Jappalé Salary Advance Salary advance in the form of automatic overdraft covering up to 50% of monthly income, designed to help customers anticipate unexpected expenses.
• Crédit Am sa Kër Real Estate Loan Specialized real estate credit for Senegalese civil servants, enabling financing for projects on precarious land titles such as communal deliberations or occupancy permits.
• Kalpé International Prepaid Card International prepaid card enabling cardholders to make payments and cash withdrawals worldwide.
• CBAO Mobile Mobile banking application for iOS and Android providing real-time account consultation, transfers, beneficiary management, cash sending, Kalpé card reloading, card blocking, card limit viewing, RIB sharing, plus Orange Money, Woyofal, and Rapido integrations.
• CBAO Net Web Banking Secure web portal for corporate and individual clients offering 24/7 real-time account and payment management, multiple transfer types, card opposition, RIB generation, beneficiary management, and messaging, with one-time SMS password validation.
• Prolib Banking Package for Liberal Professionals Comprehensive banking package for liberal professionals (doctors, lawyers, notaries, architects), bundling a current account with included account-keeping fees, Visa Gold card, free digital transfers within UEMOA, SMS Banking, e-statements, CBAO Mobile, 50% discount on TPE rental, travel insurance, 24/7 after-sales service, leasing for professional equipment, and 15% discount on professional insurance.
• Offre Fonctionnaire Civil Servant Banking Package Specialized banking package exclusively for Senegalese civil servants, including a personalized and exclusive bank card, free CBAO Mobile access, deferred repayment on consumer credit, overdraft facilities, insurance products, and support for real estate acquisition.
• YEKSIL Account Package Entry-level retail banking pack offering a Visa Electron card, salary advance up to 30% of domiciled income, SMS alerts, free email statements, free account-keeping fees, and optional housing savings account (Avenir Logement).
• TERANGA Account Package Mid-tier retail banking pack with a Visa Classic card (immediate or deferred debit), salary advance up to 50%, 50% discount on bank checks, CBAO Mobile and CBAO Net access, and optional housing savings account.
• PRESTIGE Account Package Premium banking pack targeting high-net-worth clients, with a Visa Gold card featuring elevated withdrawal and payment limits, overdraft up to 70% of domiciled income, 24/7 account access via CBAO Mobile and CBAO Net, SMS alerts via Flash Bank, email statements, 50% discount on bank check issuance fees, and free student support attestations.
• Compte à Terme (Term Deposit) Fixed-term deposit account with interest paid at maturity, minimum duration of 1 month up to 3 years, minimum deposit of 1,000,000 FCFA, with options for early redemption and advance borrowing.
• Bon de Caisse Savings Bond Debt instrument issued by the bank in the form of a negotiable title, paying interest based on the deposit term, with minimum duration of 6 months and minimum deposit of 1,000,000 FCFA.
• Capital Plus Investment Product Medium-to-long-term savings and investment product with guaranteed minimum rate plus an annual profit-based bonus, initial investment from 400,000 FCFA with additional contributions from 100,000 FCFA, early-withdrawal penalty of 5% on revalued savings before 3 years, and tax deduction on contributions.
• Attijari Patrimoine Collective Investment Scheme Collective investment scheme (OPCVM/FCP) managed by Attijari Asset Management, targeting medium-to-long-term capital growth (3 years or more) through money, bond, and equity markets, with assured liquidity via subscription and redemption at net asset value.
• Flash Bank SMS Remote Banking SMS-based remote banking service providing real-time account alerts (balance, debits/credits, interest rates) and on-demand information queries, available 24/7 in Senegal and abroad, compatible with all mobile operators.
• Online Trade International Trade Platform Secure transactional platform for initiating and managing international trade operations including import/export documentary credits, documentary remittances, international transfers, foreign currency financing requests, and guarantee requests, with 7-day availability, reporting module, and expert support.
• E-Alertes Electronic Notification Platform Electronic notification platform providing instant email alerts for commercial collection operations, with customizable file output via email or CFT at predefined frequency.
• Editique par Mail E-Statement Service Service delivering account statements, operation notices, interest notices, and interest scales by email in PDF format, with daily or monthly frequency and up to three declared email addresses.
• Working Capital Credit Facilities Suite of short-term and seasonal corporate credit facilities: Facilité de Caisse (revolving overdraft), Crédit Spot (15 days to 3 months), Crédit de campagne (up to 9 months for cyclical businesses), Avance sur marchandises (inventory financing up to 80% of stock), and Crédit relais (bridge financing pending incoming funds).
• Crédit d'Investissement (Investment Credit) Medium and long-term investment financing covering project creation, capacity expansion, modernization, rationalization, and working capital needs, with financing up to 100% of the investment program and repayment terms up to 15 years with deferred repayment.
• Crédit-Bail (Equipment Leasing) Mobility equipment leasing (vehicles, machines, tools, office equipment) allowing 100% financing at 1% residual value, repayment periods of 12 to 60 months, and all-risk insurance.
• International Trade Finance Services Suite of international trade finance services: Encaissement documentaire (documentary collections), Crédit documentaire (letters of credit), Garanties internationales (bid bonds, advance payment, performance, warranty release, payment guarantees), Cautions Douanières (customs guarantees), and Virement International (international wire transfers).
• Cautions Administratives (Public Procurement Bonds) Administrative guarantees for public procurement including provisional bid bonds (typically 3% of bid amount), definitive performance bonds, advance payment guarantees, and retention money guarantees, securing contractor commitments.

Quantifiable outcome

• Leading bank in Senegal with largest branch network
• +2 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Orange Money SenegalcoreTechnology or Integration · 8 March 2023Strategic partnership enabling CBAO Mobile users to transfer money from CBAO accounts to Orange Money accounts and vice versa. Integration provides seamless digital payment experience between banking and mobile money services.
• Club Afrique DéveloppementcoreStrategic or Co-development PartnerPan-African business development platform of Attijariwafa Bank group. Facilitates intra-African trade with 7,000+ active members and 33,000+ business meetings facilitated since 2010. Connects to Attijari Trade Club with 30,000+ operators globally.
• Wafa Assurances Vie SénégalcoreTechnology or IntegrationLife insurance company specializing in savings and protection products. Provides bancassurance products through CBAO branches including life insurance, education plans, and retirement accounts.
• Union Gabonaise de Banque (UGB)minorStrategic or Co-development PartnerCo-organized 44th Club Afrique Développement mission in Gabon with UGB. Facilitated cross-border business meetings between 11 African countries.

Scale indicators8 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Société Générale de Banques au Sénégal (SGBS): SGBS is one of the largest direct competitors to CBAO in Senegal, offering a comparable universal banking proposition (retail, corporate, trade finance) under the Société Générale brand. It competes head-to-head for the same large-enterprise, SME, and salary-based retail segments in WAEMU.
• BICIS (Banque Internationale pour le Commerce et l'Industrie du Sénégal): BICIS is a historic Senegalese commercial bank controlled by BNP Paribas, providing a directly comparable mix of retail, corporate, and trade finance products. It is one of CBAO's principal domestic competitors for large corporate and institutional clients.
• Ecobank Senegal: Ecobank Senegal is part of the pan-African Ecobank group and directly competes with CBAO across retail, SME, and corporate banking in Senegal. Its West African footprint and digital strategy make it a relevant comparable for cross-border and digital banking.
• Bank of Africa Senegal (BOA Senegal): BOA Senegal is a directly comparable universal bank serving retail, professional, and corporate clients in Senegal, with a similar GTM combining branches and digital channels. It is part of the BOA group with WAEMU-wide reach.
• Orabank Senegal: Orabank Senegal is a regional banking group operating in WAEMU that competes with CBAO in retail, SME, and corporate banking. Its multi-country presence and digital platforms make it a relevant peer for cross-border product strategy.
• Crédit du Sénégal: Crédit du Sénégal is a long-standing Senegalese commercial bank offering retail, professional, and corporate banking directly comparable to CBAO's offering. It is a domestic competitor for the same customer segments inside Senegal.
• Banque de l'Habitat du Sénégal (BHS): BHS is a Senegalese bank historically focused on mortgage and housing finance but now offering broader retail and corporate services. It competes with CBAO for retail deposits, salary accounts, and real estate-related lending.

Emerging players

• Coris Bank International Senegal: Coris Bank has expanded into Senegal from Burkina Faso and competes with CBAO on retail, SME, and increasingly corporate banking. Its regional WAEMU footprint and digital banking push make it a relevant emerging competitor.

Regional players

• NSIA Banque Côte d'Ivoire: NSIA Banque is a large WAEMU bank headquartered in Côte d'Ivoire that competes with CBAO on retail, professional, and corporate banking from a regional base. While not focused on Senegal, it shares the same BCEAO regulatory framework and target segments.

Broad incumbents

• Attijariwafa Bank (parent group): Attijariwafa Bank is the Moroccan parent group that wholly owns CBAO and operates a broad pan-African franchise across retail, corporate, investment banking, and asset management. As a key strategic reference, its product set, group capabilities, and capital base directly shape CBAO's competitive positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cbao-groupe-attijariwafa-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CBAO