West African Economic and Monetary Union: Financial Depth and Macrostability
Departmental Papers, October 22, 2013
Source details
- Canonical URL
- West African Economic and Monetary Union: Financial Depth and Macrostability
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Bibliographic details
- Authors: Patrick A. Imam, Christina Kolerus
- Published: October 22, 2013
- Series: Departmental Papers
- DOI: https://doi.org/10.5089/9781484348222.087
Overview and key statistics
- The financial system in the WAEMU remains largely bank-based.
- Banking sector composition:
- 106 banks
- 13 financial institutions
- These institutions together hold more than 90 percent of the financial system’s assets.
- Financial system assets equal about 54 percent of GDP at end-2011.
- Five banks account for 50 percent of banking assets.
- Publication:
- Pages: 45
- Volume: 2013
- Issue: 005
- Series: Departmental Paper No. 2013/005
- DOI: https://doi.org/10.5089/9781484348222.087
- ISBN: 9781484348222
- ISSN: 2616-5333
Banking sector structure and ownership trends
- Ownership structure is changing rapidly with the rise of foreign-owned (pan-African) banks.
- Effects of changing ownership:
- Contributes to higher competition.
- Leads to rising heterogeneity in the banking system, with large and profitable cross-country groups competing with often weaker country-based (and sometime government-owned) banks.
Nonbank financial institutions
- Nonbank financial institutions are developing quickly, notably insurance companies.
- Despite growth, nonbank institutions remain overall small relative to the banking sector.
Analysis focus and subjects
- The paper presents a detailed analysis of the banking system.
- Subjects covered include:
- Bank credit, Banking, Commercial banks, Financial crises, Financial institutions, Financial markets, Financial sector development, Financial sector policy and analysis, Financial services, Stress testing
Keywords and thematic scope
- Commercial banks, debt market, DP, DPPP, East Africa, financial crisis, Financial sector development, interbank market, interest rate, Stress testing, Sub-Saharan Africa, WAEMU authorities, WAEMU bank, WAEMU country, WAEMU interbank market, WAEMU member states, West Africa
Patrick A. Imam and Christina Kolerus, West African Economic and Monetary Union: Financial Depth and Macrostability, Departmental Papers 2013, 005, October 22, 2013.