SONAM and Sen Re quit Banque Atlantique’s capital

The Group SONAM Assurances and Société Sénégalaise de Réassurance (Sen Re) are quitting the capital of Banque Atlantique Sénégal, a subsidiary of the Moroccan holding, Banque Centrale (BCP).

Both Senegalese partners, detaining a combined 34% stake since 2006, explain this decision by the bank’s lack of profitability following a accumulated losses.

More news:

• The insurance industry in Senegal