After taking over the activities of Société Générale SA and BNP Paribas SA on markets in Africa, two heavyweights in the banking sector, the Vista group has taken a new step by expanding its activities in France. This important step in the international expansion of the group, based in Burkina Faso, should materialize in the second half of the year, thus becoming the bank’s first operation outside Africa.
To this end, Vista announced that it had received approval from the Prudential Control and Resolution Authority (ACPR), in a press release from the bank published this Friday, January 17.
By relying on the support of Lilium, its parent company, Vista intends to diversify its portfolio of activities while capitalizing on growth opportunities outside its original market.
According to Vista Group Holding Chairman, Simon Tiemtore, the establishment of Vista Bank in France is an important step in Vista Group’s global expansion strategy and underlines our position in the global financial market. “Our operation in France is the start of our global gateway to support Vista Banks’ strategic growth on the African continent,” he added.
-The new company will provide, among other things, corporate banking, international trade finance, foreign exchange and treasury management and advisory services.
The Vista group is a key player in the banking sector in Africa, with a significant presence in several markets on the continent, notably in Burkina Faso (group headquarters), Guinea, Sierra Leone and Gambia.
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