
CBAO maintains top position in Senegal's banking sector, Islamic Bank of Senegal rises to third
CBAO Groupe Attijariwafa bank has retained its leading position in the Senegalese banking market by total balance sheet, according to the 2025 report from the UMOA Banking Commission. The report, based on balance sheets as of December 31, 2025, shows CBAO ahead of Soci茅t茅 G茅n茅rale S茅n茅gal. The Islamic Bank of Senegal BIS has moved into third place, surpassing Ecobank Senegal and Bank of Africa Senegal. This marks a significant shift in the banking landscape, highlighting the growth of specialized institutions, particularly in Islamic finance. The National Bank for Economic Development BNDE also advanced three places to fifth, and SUNU Bank Senegal, formerly BICIS, continued its repositioning, gaining three places in 2024 to reach sixth. These changes occur within a competitive banking system that, as of late 2024, included 29 banks, four banking financial institutions, and 297 microfinance institutions. The detailed publication of credit institutions' accounts by UMOA will provide further insights into market shares, profitability, and financial strength, determining if the progress of BIS, BNDE, and SUNU Bank is accompanied by improved profitability and capitalization. The sector is characterized by CBAO's stable leadership and a gradual reshuffling of rankings among other institutions.



