Ecobank and Caisse d'Epargne Ile-de-France collaborate

13 November 2009
Content from a Premium Partner
Ecobank (Lome)
press release

Ecobank and Caisse d'Epargne Ile-de-France collaborate to offer a fast transfer discount service to subsahara Africa.

It is also to expand their customer base by cross selling banking services. Ecobank and Caisse d'Epargne Ile-de-France are offering fast transfer discount services to their customers: Malians Senegalese and Cameroonians in France with legal resident status.

The service is already available in two selected Caisse d'Epargne branches located at Montreuil (93100) and Paris - Château d'eau (75010). Individual customers can transfer funds to Mali, Senegal and Cameroon at a specialrate of €10 per transaction up to a maximum of €15 200, within 2 business days. Repatriation costs 5 €.

Caisse d'Epargne Ile-de-France has positioned itself as the banking institution offering the cheapest rates for international money transfers to these three countries, and has the best offer for transfer of 300 € and above. The operations are carried out exclusively in euros, to and from current accounts opened both with Caisse d'Epargne Ile-de-France and Ecobank.This banking service package is the outcome of a partnership sealed in 2009 between Caisse d'Epargne Ilede- France and Ecobank, which aims at giving their black diaspora customers a range of banking products and services, both in France and in their home countries.

Indeed, who else other than Ecobank, the Pan African Bank, the African Bank of the Year for 2009 awarded by African Banker Magazine, and Caisse d'Epargne Ile-de-France, specialist in savings, could propose adequate banking services that meet migrant expectations on remittances and savings?

In 2010, the offer would be extended to other black communities and African countries, and be available in a larger number of branches of Caisse d'Epargne Ile-de-France.

Through this lower cost of remittances, Ecobank and Caisse d'Epargne- Ile-de-France wish to contribute to the growth of financial flows and to the deepening of banking in the targeted countries.

"For our customers, money sent home is vital to help relatives, to build up savings, invest in a home or a business,"says Henry Le Bleis, Château d'Eau branch manager.

"Caisse d'Epargne can help them by financing their projects through dedicated banking services" confirms Alain Girardot, Montreuil branch manager. "We are very pleased to work closely with our partner Caisse d'Epargne to put in place an adequate banking service dedicated to our mutual customers," said Christophe Jocktane-Lawson, Regional Head, International, Ecobank Group.

About Caisse d'Epargne Ile-de-France
(www.caisse-epargne.fr - région-Ile de France)

Created in 2008, Caisse d'Epargne Ile-de-France now covers 8 districts of Ile-de-France Region. With 3.8 million customers and 537,000 members, Caisse d'Epargne Ile-de - France is the first regional bank of France. Relying on a network of 462 local branches, Caisse d'Epargne Ile-de-France plays a key role in the regional development through its 23 business centers.

In 2008, under the leadership of Mr. Bernard Comolet, CEO, and Mr. Jean-Paul EDDY, Chairman of the Board of Guidance and Supervision, Caisse d'Epargne Ile-de-France, with its 5100 employees, has successfully completed its computer migration unprecedented in Europe. The consolidated net banking income in 2008 amounted to 812 million euros, despite an unprecedented banking crisis, net income amounted to74 million euros.

About Ecobank (www.ecobank.com)

Incorporated in Lome, Togo, ETI is the parent company of the leading independent regional banking group in Africa. It currently has subsidiaries and offices in 31 countries, namely: Benin, Burkina-Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo-Brazzaville, Côte d'Ivoire, Democratic Republic of Congo, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome & Principe, Senegal, Sierra Leone, South Africa, Togo, Uganda, Zambia as well as France and UAE (Dubai).

ETI is listed on the stock exchanges in Lagos, Accra and the Bourse Régionale des Valeurs Mobilières (BRVM) in Abidjan. The Group is owned by more than 180,000 local and international institutional and individual shareholders. It has over 11,000 employees from 29 different countries in over 700 branches. Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.

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