However , a series of reforms were undertaken in the 1990s , which resulted in the consolidation of the banking sector and in the privatization of all state banks .
Benin 's financial sector is dominated by banks , and in general remains shallow .
A series of reforms were undertaken in the 1990s , which resulted in the consolidation of the banking sector and in the privatization of all state banks .
Benin 's financial sector is dominated by banks , and in general remains shallow .