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How can I open a bank Account in Banque Industrielle et Commerciale de Madagascar?

Should you be interested in opening a bank account in Bank BICM, you can refer to the following useful information:

Required Documents :

2 attested copies or 2 non-attested copies of the followings (except photos and residence proof) but on presentation of the original documents :

  Personal

Sole Proprietor

 Equity Company / Limited Liability Company Single Person Company / Single Person Limited Company
ID Card of A/C Holder or Trustee
3 photos of A/C Holder or Trustee
Residence Certificate
Statistics Card  
Tax Registration Number (NIF)  
Class of Registration (RCS)  
M&A of Association    
Minute of Appointment or Proxy authorized by Manager    

Association

  •           M&A of Association

  •           ID Cards of Authorized Signatories

  •           Minute of Meeting for Forming the Company

  •           Minute for appointment of Directors

  •           Authorisation Letter for Authorized Signatories

    •

  •      Permit from Faritany authorities

 		Free occupation

  •           3 photos

  •           ID Card of A/C Holder or Trustee

  •           Statistics Card

  •      Fiscal Identification No.

Minimum Amount for Account Opening
Personal: MGA 100.000
Sole Proprietor / Single Person Limited Company / Association / Limited Liability Company / Free Occupation: MGA 500.000
Equity Company / Single Person Company / Others : MGA 2.000.000

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CONDITIONS FOR ACQUISITION OF LOAN

FOR LEGAL ENTITIES:

Bank BICM can participate in the nation’s economic revival through short-term lending to corporate projects.      

The conditions of acquiring corporate lending are as follows (also through submission of application to the Bank):

  • Primary Conditions:

    • Legally established enterprise
    • Must have a bank account in Bank BICM
  • Type of Loan
    • Short-term working capital lending
    • Investment credit

·         Project Finance Ratio

o        Customer’s contribution: minimum 30%

o     Bank Financing: maximum 70%

o     Customer’s contribution can be in the form of money or property

·      Interest Rate: BICM’s Base Rate + Profit Margin

Profit Margin will vary according to risk and lending period

·      Period:

      o      Working Capital Lending: maximum 1 year

o     Investment Credit: maximum 3 years

·      Guarantee:        

o     Mortgage: charge on land or real estate, vehicles, equipment, property, merchandise or goods, etc

o     Personal Guarantee: joint or third party guarantee

o     The beneficiary of insurance should be designated as Bank BICM (life, theft, fire, flooding insurance

·      Contents of Loan Application

o     The loan application submitted to the General Manager of Bank BICM should include information like type of loan (according to project nature), amount, period, aims/certification of application, repayment option and proposed guarantee.

o        Applicant (sole proprietor) information or Collective Enterprise (limited liability company) or shareholder details, its prospect, clientele or estate, etc

o        The latest 3-year financial statements (if in operation)

o        Market Research

o        Other useful information

·         Assessment Criteria

o        Assessment will be made on the basis of project nature, return, financing structure and management standard, etc…

·         Deadline for Reply

o     Upon receipt of the application documents, a reply has to be made within 1 month

 
 
 

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CONTACT

You are welcome to liaise with the following staff:

Credit:   

            Mr Jean Gabriel RASAMIMANANA

            Mrs Hortense Jeannette TOVOLAHY

Foreign Operation:    

            Mrs Lalaina RAMAROSON

For the time being, Bank BICM has three offices:

Andraharo: Isoraka: Ivato:

2, rue du Docteur Raseta   101 Antananarivo Boite Postale 889

Tel:  (261) 20 23 565 68             (261) 20 23 361 39

Fax:  (261) 20 23 566 56

32, avenue du General Ramanantsoa                101 Antananarivo

Tel: (261) 20 22 254 37         (261) 20 22 257 83

Fax: (261) 20 22 269 31

32, avenue du General Ramanantsoa                     101 Antananarivo

Tel: (261) 20 22 254 37         (261) 20 22 257 83

Fax: 22 269 31

You are also welcome to contact us by email: bicm-info@bicm.mg            Top of page
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