Banque Africaine pour l'Industrie et le Commerce BAIC · Bénin
🏦 BAIC (Banque Africaine pour l'Industrie et le Commerce) opened in November 2015 in Cotonou, Benin. It was established as a universal bank to support industry, commerce, and reduce financing gaps. In 2020, BAIC merged with BIBE to form BIIC (Banque Internationale pour l'Industrie et le Commerce) – today the largest bank in Benin with ~25% market share.
- 2013–2014: banking licence application submitted to BCEAO (Central Bank of West Africa) [citation:3]
- 6 November 2015: official inauguration by President Boni Yayi; first CEO Adam Dende Affo [citation:1][citation:5]
- Initial capital: 10 billion XOF (≈ $20M), increased to 14 billion XOF in 2017 to meet Basel II/III [citation:3]
- Address: Lot N°374 parcelle C, boulevard St Michel, 01 BP 7744 Cotonou – the same headquarters BIIC uses today [citation:3][citation:4]
- Shareholders: included international investors from Switzerland (Atlantic International), Singapore, Nigeria, and was linked to interests of the Republic of Congo presidency [citation:10]
- In late 2018 the Beninese state acquired the bank; a rapprochement with Banque Internationale du Bénin (BIBE) began [citation:3]
- June 2020: BAIC and BIBE officially merge to create Banque Internationale pour l'Industrie et le Commerce (BIIC) [citation:6][citation:8]
- The merger pooled assets, branch networks, and expertise to form a stronger domestic player
- Arsène Mahougnon Dansou (former head of the Bénin Caisse Autonome d'Amortissement) appointed Director‑General in July 2022 [citation:8]
- By 2022 BIIC had become the market leader in Benin [citation:6]
- Largest bank in Benin – total assets CFA1,886 billion (end 2025), nearly 25% market share [citation:2]
- Listed on BRVM (Bourse Régionale des Valeurs Mobilières) since April 2025, ticker BICB [citation:4][citation:6]
- Capital: 82.5 billion FCFA (≈ €125.8 million) as of Dec 2024 [citation:6]
- Strong focus on SME financing: programmes “PME-BOOST” and “BIIC avec elles” (women‑led businesses) [citation:8]
- Digital banking: BIIC Online, BIIC Mobile, Visa cards, SMS banking [citation:7]
📍 same headquarters:
Lot N°374 parcelle C, bld St Michel, Cotonou – unchanged since BAIC’s 2015 opening. [citation:3][citation:4]
- Adam Dende Affo – first Director‑General (2015–... ) [citation:1][citation:5]
- José Veiga – administrator until Feb 2014, represented shareholder Atlantic International [citation:10]
- Yaya Moussa – replaced Veiga as PCA (Chairman) [citation:10]
- Arsène Mahougnon Dansou – Managing Director since July 2022 [citation:8]
- Under his direction, BIIC multiplied net profit from 5.7 bn FCFA (2021) to over 30 bn FCFA expected for 2024 [citation:8]
- The board includes representatives of the Beninese State and institutional investors
🔗 The original BAIC is now part of BIIC – Banque Internationale pour l'Industrie et le Commerce
Visit official BIIC website →(The domain baic-bank.com is an independent historical reference; the current bank operates under biic-bank.com)
In early 2025 the Beninese government sold over 33% of BIIC’s capital through a public offering, raising more than 100 billion FCFA. The bank was listed on the BRVM (regional stock exchange) in April 2025 – a milestone for transparency and private investment. [citation:2][citation:6]
BIIC is now one of the leading listed financial institutions in the West African Economic and Monetary Union (UEMOA).