BIIC

What BIIC does

BIIC (Banque Internationale pour l'Industrie et le Commerce) is a universal bank headquartered in Cotonou, Benin, formed in 2020 from the merger of BAIC (founded 2015) and BIBE and operating through 15 branches and 20-plus ATMs across Benin. The bank serves retail (individuals, salaried civil servants/APE, retirees), professionals (doctors, lawyers, dentists), SMEs/SMIs (the explicit core segment), large enterprises, and institutional clients, with a stated positioning as Benin's 'SME bank'. Products and services include checking and savings accounts (e.g., Épargne Privilège with a 5M FCFA minimum and unlimited earning ceiling), personal loans (8% APE / 9% non-APE rates), the BIIC Equip+ vehicle-financing product (6% annual, 18–36 month tenor), school loans, mortgage/refinancing capacity via a CRRH-UEMOA facility, debit-card products on the Visa network (Classic, Gold, Platinum, and BIIC Visa Business), bancassurance through partners, trade-finance instruments (documentary credits, SBLC, international guarantees), and capital-markets services through subsidiary BFS acting as Stock Exchange Intermediary. Digital channels comprise BIIC Mobile (iOS/Android with biometric and OTP authentication), BIIC Online internet banking for individuals and enterprises, SMS alerts (1,000 FCFA/month for individuals, 2,000 for businesses), and the Push & Pull interoperability service linking BIIC accounts to MTN MoMo and Moov Money wallets via USSD *855*1#.

The bank's revenue model is a classic spread-plus-fee universal-banking stack: interest income from personal, equipment, school and SME credit (rates spanning 6–9%), transaction and card fees (BIIC-to-BIIC transfers are free, but Visa Business carries an 11,000 FCFA monthly fee), bancassurance commissions on credit-bundled insurance, trade-finance letter and guarantee fees, and brokerage commissions routed through BFS and the WAEMU SGI network. Specialized programs add non-financial and financial revenue: PME BOOST offers multi-product financing to Beninese SMEs with documented 48-hour letter processing and two-week credit decisions, while BIIC Avec Elles targets women-led SMEs via blended financing, training and mentorship (3.2B FCFA disbursed to ~30 beneficiaries, 7B FCFA to ~50 companies over three years). Distribution is hybrid: 15 physical branches plus relationship account managers for complex products, complemented by self-serve digital and ATM channels; partnerships with MTN, Moov, NSIA Vie, Sud Capital, AGF, BOAD, EIB/BEI, CRRH-UEMOA, EtriLabs and AWEP extend reach into telecommunications, insurance, guarantee funds, development finance, and incubators.

Financially, BIIC reported a total balance sheet of 1,511.9 billion FCFA, customer deposits of 929.7 billion FCFA, outstanding credit of 847.9 billion FCFA, securities of 584.4 billion FCFA, equity of 115.4 billion FCFA, and net income of 30.34 billion FCFA as of September 30, 2024. The Beninese state holds a 51.26% majority stake (with CNSS at ~45.34% and the Autonomous Port of Cotonou at 3.39% pre-IPO); ownership was broadened through a historic April 28, 2025 IPO on the BRVM that raised 100.45 billion FCFA at a 323.45 billion FCFA market capitalization, the largest bank IPO in the regional market's history. The bank was ranked #1 in Benin by APBEF aggregates since June 2022, 6th Champion of Finance in UEMOA and 125th in Africa by Jeune Afrique in 2024, and 'Best Commercial Bank of the Year — Benin' by International Banker in 2025.

Name

BIIC

Legal name

Banque Internationale pour l'Industrie et le Commerce

Website

https://biic-bank.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

BIIC is a universal bank in Benin serving retail, SME, and institutional customers through 15 branches, digital channels, and mobile money integrations, offering loans, savings, cards, trade finance, and capital markets services.

Ownership category

akta.pro rank

Headquarters

HQ city

Cotonou

HQ country

Benin

Offices18 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Core banking revenue from lending activities including personal loans, mortgages, business financing, agricultural loans, equipment financing (BIIC Equip+), and school loans. Interest rates vary: 8% for APE (civil servants) and 9% for non-APE on personal loans; 6% annual rate on BIIC Equip+ vehicle financing.
2. Fee and Commission Income: Revenue from account management, transactions, card services (Visa Business monthly fee of 11,000 FCFA), transfer fees, and service charges. BIIC Online subscription is free for individuals; BIIC to BIIC transfers are free.
3. Bancassurance: Insurance products and services offered through partnerships with insurers, including death/disability insurance tied to credit products and vehicle insurance.
4. Trade Finance Services: International payment solutions including Documentary Remittances, Documentary Credits, Standby SBLC, Letters of Credit, and International Guarantees for import/export operations.
5. Capital Markets Services: Revenue from OPV (Public Offering) and brokerage services through subsidiaries BIIC Financial Services and partnerships with SGI networks across WAEMU region.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels12 records

Core offering

BIIC is a universal bank in Benin providing a full suite of retail, professional, SME, and corporate banking products — including current and savings accounts, personal and business loans, vehicle/equipment financing, school loans, trade finance instruments, bancassurance, Visa debit cards, and capital markets services. Banking services are delivered through 15 branch agencies and 20+ ATMs nationwide, supplemented by digital channels BIIC Online (internet banking), BIIC Mobile (iOS/Android app), SMS alerts, and Push & Pull mobile money interoperability with MTN MoMo and Moov Money.

Product overview

BIIC (Banque Internationale pour l'Industrie et le Commerce) is a universal bank offering a comprehensive suite of products and services organized as a platform-plus-modules architecture. The core digital banking platform comprises BIIC Mobile (mobile app) and BIIC Online (web banking for individuals and enterprises), supplemented by Visa debit cards across Classic, Gold, and Platinum tiers and the BIIC Visa Business card for corporate clients. The product portfolio extends to savings products (Épargne Privilège, Épargne Voyage, DAT, BIIC Avenir), lending solutions (Prêt Bancaire, Crédit Scolaire, BIIC Equip+), Push & Pull mobile money integration, Bancassurance, and Trade Finance services. Specialized programs include PME BOOST for SME financing and BIIC Avec Elles for women-led enterprises. The OPV program opened the bank's ownership to the general public via the BRVM regional stock exchange. The bank covers all segments: individuals, professionals, enterprises, and institutions.

Differentiator

Problem solved

Functional benefit

Brands

• BIIC Avec Elles: Special program dedicated to the promotion of female entrepreneurship, offering financing, support, mentoring, and advisory assistance for women-led SMEs.
• PME BOOST
• BIIC Online
• BIIC Mobile
• Push & Pull
• BIIC Visa Business
• Épargne Privilège
• BIIC Equip+

Products and services

• BIIC Mobile Full-featured mobile banking application offering account management, transfers, cash flow monitoring, and Push & Pull functionality for linking mobile money accounts (MTN MoMo, Moov Money). Available on Android and iOS.
• BIIC Online

Quantifiable outcome

• 3.2 billion FCFA in financing to ~30 women entrepreneurs through BIIC Avec Elles program
• +7 more outcomes

Named customers10 records

Segments6 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

AI capability2 records

Feature6 records

Partnerships

15 partnerships are on record, tiered core and supporting.

• CRRH-UEMOA (WAEMU Regional Mortgage Refinancing Fund)coreStrategic or Co-development Partner · 1 May 2025Partnership for WAEMU Affordable Housing Promotion Program backed by World Bank. Enables BIIC to offer long-term mortgage loans with competitive conditions for low and middle-income households. Supports government's 20,000 housing project. CRRH-UEMOA has AA+ rating from Moody's and West Africa Rating Agency.
• EtriLabs IncubatorsupportingStrategic or Co-development Partner · 22 March 2025New partner added to BIIC Avec Elles program to support women entrepreneurs through incubation services, mentoring, and startup development support.
• AWEP (African Women Entrepreneur Program)supportingStrategic or Co-development Partner · 22 March 2025New partner added to BIIC Avec Elles program to strengthen support for women-led SMEs through the AFAWA (Affirmative Finance Action for Women in Africa) initiative.
• Moov MoneycoreTechnology or Integration · 12 December 2024Partnership for instant money transfers between BIIC bank accounts and Moov Money mobile wallets. Activated via USSD *855*1# (option 3, then 11). Auto-linking functionality allows customers to self-activate the service. Promotes financial inclusion by reducing barriers to financial services access.
• BFS (BIIC Financial Services)coreChannel Partner/ Reseller/ Distributor · 1 December 2024BIIC subsidiary serving as Stock Exchange Intermediary (Cotation) for OPV subscription and capital markets operations. Located at Bon Pasteur Building, Cadjèhoun, Cotonou.
• SGI-AGI (African Management and Intermediation)supportingChannel Partner/ Reseller/ Distributor · 1 December 2024Co-lead SGI for OPV subscription in Benin. Located at C/1269 Av. Jean Paul II, Immeuble l'Africaine des Assurances, Cotonou.
• Africa BoursesupportingChannel Partner/ Reseller/ Distributor · 1 December 2024Co-lead SGI for OPV subscription in Benin. Located at 189 Avenue Steinmetz (face DHL), Cotonou.
• United Capital for Africa (UCA)supportingChannel Partner/ Reseller/ Distributor · 1 December 2024Co-lead SGI for OPV subscription in Benin. Located at Immeuble COMETE, lot 202, Qtier Gbedokpo, Cotonou.
• EDC Investment Corporation (EIC)supportingChannel Partner/ Reseller/ Distributor · 1 December 2024Lead manager for OPV subscription in Benin. Located at Cotonou, Ganhi rue du Gouverneur Bayol.
• SGI BeninsupportingChannel Partner/ Reseller/ Distributor · 1 December 2024SGI partner for OPV subscription in Benin. Located at Quartier Saint Michel, Cotonou.
• Attijariwafa Bank Group (ASWA, BNI Finances, BOA Capital Securities, BRIDGE Securities, BSIC CAPITAL, BICI Bourse)supportingChannel Partner/ Reseller/ Distributor · 1 December 2024WAEMU-wide SGI network for OPV subscription covering Côte d'Ivoire and other regional markets.
• NSIA FinancesupportingChannel Partner/ Reseller/ Distributor · 1 December 2024Regional SGI partner for OPV subscription covering Côte d'Ivoire market.
• MTN Mobile Money (MoMo)coreTechnology or Integration · 1 November 2024Strategic memorandum of understanding for simplifying financial transactions. 24/7 transfer capability between BIIC bank accounts and MTN MoMo wallets, balance consultation, mini-statement access. Auto-linking innovation enables self-service activation without branch visit.
• NSIA Vie Assurances BeninsupportingStrategic or Co-development Partner · 1 March 2023Insurance partner in BIIC Avec Elles women entrepreneurship program providing coverage for beneficiary businesses alongside notaries, lawyers, and chartered accountants.
• Sud Capital SAsupportingStrategic or Co-development Partner · 1 March 2023Financial partner in BIIC Avec Elles program supporting women entrepreneurs with financing and investment advisory services.

Scale indicators21 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Société Générale de Banques au Bénin (SGBBE): Foreign-owned Beninese subsidiary of Société Générale group offering full-service commercial banking. Directly competes for corporate, retail, and SME deposits and lending in the same Beninese market.
• NSIA Banque Bénin: Beninese subsidiary of the NSIA Group, a major West African financial services conglomerate. Competes with BIIC directly in retail, SME, and corporate banking across Benin, with similar Bancassurance partnerships.
• CBAO Bénin (Attijariwafa Group): Beninese subsidiary of Moroccan banking group Attijariwafa. Co-financed the STB textile project with BIIC and competes across retail and SME segments; offers comparable deposit and lending products.
• Orabank Bénin: Beninese subsidiary of Oragroup, a WAEMU-focused banking group. Operates universal banking with retail, SME, and corporate offerings; overlaps directly with BIIC's target customer segments and product suite.
• Coris Bank Bénin: Beninese subsidiary of Coris Bank International (Burkina Faso-headquartered WAEMU banking group). Competes directly in retail, SME, and digital banking, with similar growth orientation across the WAEMU region.
• BGFI Bank Bénin: Beninese subsidiary of BGFI Bank Group (Central Africa-rooted). Active participant in syndicated project finance alongside BIIC (e.g., STB consortium), with overlapping corporate and retail banking offerings.
• Banque Atlantique Bénin: Beninese subsidiary of Atlantic Financial Group, a major WAEMU banking network. Provides universal banking services directly comparable to BIIC's retail, SME, and corporate offerings in Benin.
• UBA (United Bank for Africa) Bénin: Pan-African banking group with Benin presence offering retail, SME, and corporate banking. Competes directly with BIIC across customer segments and increasingly in digital/mobile banking solutions.
• Bank of Africa Bénin (BOA Bénin): BMCE Group-affiliated commercial bank operating a national branch network in Benin. Directly comparable as a multi-segment bank targeting retail, professionals, and SMEs in the same Beninese market as BIIC.
• Ecobank Benin: Subsidiary of pan-African banking group ETI, operating full-service commercial banking in Benin across retail, SME, and corporate segments. Directly comparable as a Beninese commercial bank with overlapping deposit, lending, and digital banking offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/biicbank
• Facebookfacebook.com/biicbank
• LinkedInlinkedin.com/company/biicbank
• Instagraminstagram.com/biicbank
• TikToktiktok.com/@biicbank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about BIIC