Cameroon's banking groups are large financial holding companies controlling multiple subsidiaries that provide retail, commercial, and investment banking services. These groups are organized into different structures, including parent-subsidiary arrangements, specialized industry-focused teams, and international development organizations.
A Financial Holding Company in Cameroon is a specialized bank holding company permitted to conduct extensive non-banking financial activities including insurance underwriting, securities dealing, and merchant banking in addition to traditional banking services.
The application for authorization shall contain the following;
- The organization chart of the group to which the applicant belongs;
- A list of the shareholders, and, where applicable, their beneficial owners, of the head holding company of the group to which the applicant belongs and of each related company;
- Certified consolidated financial statements, including balance sheets and income statements for the last three years;
- A list of the holdings in the capital of credit institutions and in any other undertaking having its seat in the territory of a Member State or abroad by the applicant, by its group or by the financial holding company to which it belongs;
- The minutes of the deliberative body of the applicant entity authorizing the creation or acquisition of a holding in the capital of the subsidiary.