BGFIBank Gabon dominated the country’s banking sector in the first quarter of 2025, accounting for a staggering 71.29% of all new bank credit issued. This figure marks a sharp increase from the previous year, where the bank held a 23.43% share. According to the Bank of Central African States’ report, no other bank in Gabon came close to matching BGFIBank’s market dominance, with competitors failing to reach a 10% share of new lending.
The sharp rise in BGFIBank Gabon lending share has raised concerns among regulators regarding credit concentration in the Gabonese banking sector. Such dominance by a single institution could undermine competition and affect the balance of the financial landscape in the country. In contrast, other major players like AFG Bank Gabon, which had led the market in Q1 2024 with a 35.24% share, saw its market share plunge to 6.39% in Q1 2025.
Dominance of BGFIBank in Gabon and Other CEMAC Countries
BGFIBank’s impressive market share is not limited to Gabon alone. In other countries within the Central African Economic and Monetary Community (CEMAC), BGFIBank continues to perform well. In the Central African Republic, BGFIBank led the market with 54.84% of new loans granted in Q1 2025. However, in Cameroon, BGFIBank was ranked fourth with 11.27% of new loans, behind BICEC and AFG Bank.
Despite its dominance in Gabon and other countries, BGFIBank’s rising market share presents challenges for regulators, who must balance encouraging competition with ensuring that institutions remain profitable and viable.
The Need for Credit Balance in the Banking Sector
The surge in BGFIBank Gabon lending share highlights a growing concern about credit concentration, especially given the absence of strong competition in Gabon’s banking sector. While the bank’s market share is growing, public policymakers are now tasked with ensuring fair access to credit for all businesses and individuals, as excessive concentration could potentially limit opportunities for other banks and stifle overall sector development.
