Banque pour le Commerce et l'Industrie - Mer Rouge:
Banque pour le Commerce et l'Industrie - Mer Rouge - (BCIMR) - is the largest bank in Djibouti with a market share of about 45%. It is a subsidiary of the French bank BNP Paribas, which owns 51% of the bank. (The Government of Djibouti owns 33%, and a Yemeni bank owns the remaining 16%.)
[edit] History
BNCI Océan Indien opened a branch in Djibouti in 1954. In 1977, when Djibouti achieved independence from France, BNP converted the branch into a subsidiary. (In 1943, BNCI, an ancestor of BNP Paribas, had taken over Crédit Foncier de Madagascar et de la Réunion, which it renamed BNCI Océan Indien in 1954.)
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