According to Regulation No. COBAC R-2016/02 relative to the changes in the status of credit institutions, changes significantly affecting the situation of a credit institution may only be authorized if the Banking Commission is assured that such operations do not jeopardize the institution’s sustainability.

The Banking Commission may reject any request for prior authorization for a modification likely to result in a change of control, when it considers that the exercise of its mission to supervise the institution is likely to be hindered due to the existence of de jure or de facto immunity from jurisdiction in favour of the future shareholder(s).

The opening of a subsidiary or branch outside the CEMAC by a reporting credit institution, as well as the acquisition of a holding in an entity whose head office is outside the CEMAC, may only be authorized in so far as they do not affect the balance of its financial situation and do not result in an insufficiency of own funds with regard to its risk profile.

The opening of a representative, information or liaison office in a CEMAC member state or outside the CEMAC by a credit institution approved by the CEMAC may only be authorized to carryout activities other than banking operations. The operations carried out on behalf of the institution are limited to;

  • The collection of economic, financial and sectoral data of interest to the credit institution;
  • Developing relations with economic operators in the host country to promote the institution’s activities;
  • Participate in events of interest to the institution.
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