Based on its success in West Africa (Establishment of banque atlantique in 08 West African countries Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo), Atlantic Financial Group chose Cameroon as the starting point for its expansion into Central Africa. On September 19, 2008, banque atlantique Cameroun obtained its initial approval.
Thus, by the Memorandum of Understanding of January 10, 2008 signed between the Groupe banque atlantique and Amity Bank Cameroon Plc, and by asset transfer agreement with assumption of liabilities between Amity Bank Cameroon Plc and banque atlantique Cameroun SA, BANQUE ATLANTIQUE took over assets from Amity Bank Cameroon Plc. This Protocol validated by Ministerial Order No. 00000483/MINFI of September 19, 2008, following the assent of COBAC, was signed, on the side of Amity Bank Plc, by the Banking Commission’s Agent who was acting as provisional administrator of the institution.