Banque Indosuez Mer Rouge [SEP] inception
Bank of Africa (Red Sea)
Bank of Africa (BOA Red Sea) is the second largest bank in Djibouti and is part of Mali based Bank of Africa Group. Bank of Africa Group acquired Djibouti based Banque Indosuez Mer Rouge in 2010. BOA Red Sea operates seven branches in Djibouti and a representative office in Addis Ababa.
History.
The firm traces its presence in Djibouti to 1908 when Banque de l'Indochine established a branch there, although it had started issuing banknotes for Djibouti in 1907. Banque de l'Indochine
' headquarters stood together at Place Lagarde for nearly half a century.
Banque Indosuez Mer Rouge (BIMR) became a wholly owned subsidiary of the French bank Crédit Agricole Indosuez when the Crédit Agricole banking group acquired Banque Indosuez in 1996.
In August 2010 the BOA Group, commenced negotiations to acquire BIMR, negotiations that came to fruition in on 22 December 2010 when the bank became Bank of Africa Red Sea (BOA-Red Sea).
External links.
- Banque Indosuez Mer Rouge @ DjiboutiPhoneBook