French bank’s exit from Africa will create opportunities for local banks — Rating Agency
Fitch Solution, an international rating agency, says the French bank's exit from Africa will create more opportunities for local banks. The rating agency said their exit could potentially spur growth and competition for local banks. “We see significant opportunities for local and regional banks in Africa despite the challenges. Some banking groups with pan-African ambitions should eventually gain enough scale to compete with long-established institutions. Increasing competition among pan-African banking groups should boost credit growth. We expect credit growth to accelerate with the exit of French banks, albeit mainly in lower-risk segments, which will help preserve asset-quality metrics, “the rating...
