International Bank for Industry and Commerce (BIIC)

BAIC applied for a universal banking license from the Central Bank of West Africa (BCEAO) in early 2014.

It actually started its operations on November 6, 2015 with a base capital of 10 billion XOF (20 million US dollars). However, ahead of the new Basel II & III regulations that came into force in January 2018, the Bank increased its capital in 2017 to 14 billion FCFA (28 million USD).

The shareholders subsequently decided to sell the bank to the government of Benin (End 2018) BAIC has so far participated in a series of milestone infrastructure development transactions (PPP) in syndication with other local banks. 2020 is the year that marks a decisive turning point in the life of BAIC with its rapprochement and merger between BAIC and BIBE, giving birth to BIIC, a new bank for a new horizon.