--- title: "Madagascar: financial institutions, SWIFT/BIC codes and licences | Elucidate" description: "17 institutions in Madagascar (as at 23 September 2026): 17 hold a SWIFT/BIC code and 0 do not." url: https://elucidate.co/directory/country/mg --- 1. [Directory](https://elucidate.co/directory) 2. [Countries](https://elucidate.co/directory/country) 3. Madagascar Country · Sub-Saharan Africa # Madagascar Check who the institutions in Madagascar are: whether each holds a BIC, which register lists it and whether an LEI is mapped. No tracked register covers Madagascar, so every institution listed here holds a BIC. 17 Institutions Active · inactive not published 17 Hold a BIC 100% of institutions — On a tracked register Not covered by a tracked register 7 LEI mapped 41% of institutions 20 BIC codes Head offices and 4 branch codes ### Madagascar at a glance Every row is the same 17 institutions, split by one attribute Type - Financial institution 17 · 100% Identification - [BIC only](https://elucidate.co/directory/search?source=bic,noregister&cc=MG) 17 · 100% Regulation level - [Not on a tracked register](https://elucidate.co/directory/search?reg=none&cc=MG) 17 · 100% LEI - LEI mapped 7 · 41% - No LEI mapped 10 · 59% View as table | Attribute | Institutions | Share | | --- | --- | --- | | Type | | Financial institution | 17 | 100% | | Identification | | BIC only | 17 | 100% | | Regulation level | | Not on a tracked register | 17 | 100% | | LEI | | LEI mapped | 7 | 41% | | No LEI mapped | 10 | 59% | An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page. BIC data as at 23 September 2026 [Institutions](https://elucidate.co/directory/country/mg#institutions) [Regulation](https://elucidate.co/directory/country/mg#registers) [Groups](https://elucidate.co/directory/country/mg#groups) [Payments](https://elucidate.co/directory/country/mg#payments) [BIC codes](https://elucidate.co/directory/country/mg#bics) ## Institutions in Madagascar All 17 institutions in Madagascar, with or without a BIC: prudentially supervised and larger institutions first. No OFAC or EU listing cites an institution in Madagascar. - [Bni Madagascar BIC CLMDMGM1 Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/bni-madagascar-clmdmgm1) - [Banque Centrale de Madagascar BIC REPUMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · LEI 549300QQLTWEVIMUPV13](https://elucidate.co/directory/banque-centrale-de-madagascar-repumgmg) - [Accesbanque Madagascar BIC ABMGMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · LEI 254900B1TF2LPYRA6J54](https://elucidate.co/directory/accesbanque-madagascar-abmgmgmg) - [Acep Madagascar SA BIC AMDAMGM2 Financial institution Not on a tracked register Madagascar · Not on a tracked register · LEI 254900R1V61IGBAHBH58](https://elucidate.co/directory/acep-madagascar-sa-amdamgm2) - [Afg Bank Madagascar BIC AFGMMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/afg-bank-madagascar-afgmmgmg) - [Bank of Africa Madagascar BIC AFRIMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/bank-of-africa-madagascar-afrimgmg) - [Banky First BIC BAIMMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/banky-first-baimmgmg) - [Banque Malgache de L'ocean Indien BIC BMOIMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · LEI 2549003DOMXEZEEIW508](https://elucidate.co/directory/banque-malgache-de-l-ocean-indien-bmoimgmg) - [Banque Sbm Madagascar BIC BSBMMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/banque-sbm-madagascar-bsbmmgmg) - [Baobab Banque Madagascar SA BIC BMADMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/baobab-banque-madagascar-sa-bmadmgmg) - [Bgfibank Madagascar BIC BGFIMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/bgfibank-madagascar-bgfimgmg) - [Bni Madagascar BIC CLMDMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · LEI 2549005YJE8QL5UJBK65](https://elucidate.co/directory/bni-madagascar-clmdmgmg) - [Bred Madagasikara Banque Populaire BIC BFAVMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · LEI 549300D8RGUM42PP7Q90](https://elucidate.co/directory/bred-madagasikara-banque-populaire-bfavmgmg) - [Marche Interbancaire des Devises M. I.D. BIC XMDGMGM1 Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/marche-interbancaire-des-devises-m-i-d-xmdgmgm1) - [Paositra Malagasy BIC PAMLMGM1 Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/paositra-malagasy-pamlmgm1) - [Premiere Agence de Microfinance Pamf BIC PGMPMGM2 Financial institution Not on a tracked register Madagascar · Not on a tracked register · LEI 2549003610VD03OOHP39](https://elucidate.co/directory/premiere-agence-de-microfinance-pamf-pgmpmgm2) - [The Mauritius Commercial Bank (Madagascar) S.A. BIC MCBLMGMG Financial institution Not on a tracked register Madagascar · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/the-mauritius-commercial-bank-madagascar-s-a-mcblmgmg) [Filter this list →](https://elucidate.co/directory/search?cc=MG) ## Regulation and supervision None of the 22 tracked registers covers Madagascar. All 17 institutions listed here hold a BIC; firms licensed only by Madagascar’s national authorities are not listed. ## Groups and systemic importance Institutions in Madagascar belong to 1 group on the FSB’s 2025 list of global systemically important banks (G-SIBs). For 2 institutions here, GLEIF records a parent in another country. ### G-SIB groups FSB 2025 list; institutions here that hold a BIC, by group | Group | Bucket | Institutions here | | --- | --- | --- | | [Société Générale](https://elucidate.co/directory/group/O2RNE8IBXP4R0TD8PU41) | 1 | 1 | [See 1 institution in a G-SIB group →](https://elucidate.co/directory/search?cc=MG&flag=gsib) ### Largest other groups GLEIF consolidation groups, by legal entities (LEIs) in this country | Group | LEIs here | LEIs in the group | | --- | --- | --- | | [Access Microfinance Holding AG](https://elucidate.co/directory/group/39120001AX50UKJ6HG21) | 1 | 2 | ### Parents abroad Institutions here by the country of their GLEIF ultimate parent (else direct parent) - [Germany1](https://elucidate.co/directory/country/de "Germany: 1") - [France1](https://elucidate.co/directory/country/fr "France: 1") GLEIF parents are accounting-consolidation relationships. They do not show ownership shares or control. ## Payments and connectivity Of the 17 institutions in Madagascar that hold a BIC, 70.6% are connected to Swift, as at 23 September 2026. ### Connection to Swift Institutions that hold a BIC, by connection type in Swift’s directory - Connected to Swift12 · 70.6% - Reverse billing2 · 11.8% - Passive participant (no connection)3 · 17.6% A BIC does not imply a connection to the Swift network. ## All BIC codes in Madagascar Look up any of the 20 BIC codes registered in Madagascar: the head offices and branch codes of the 17 institutions here that hold a BIC, with their LEIs and flags. [Download the list (JSON)](https://elucidate.co/data/banks/countries/MG.json) ### Where branch codes cluster Branch codes by city, top 4 - Antananarivo1 - Antsiranana1 - Mahajanga1 - Toamasina1 ## Other countries in Sub-Saharan Africa The directory has pages for 50 other countries and territories in Sub-Saharan Africa. [Angola](https://elucidate.co/directory/country/ao) [Benin](https://elucidate.co/directory/country/bj) [Botswana](https://elucidate.co/directory/country/bw) [Burkina Faso](https://elucidate.co/directory/country/bf) [Burundi](https://elucidate.co/directory/country/bi) [Cameroon](https://elucidate.co/directory/country/cm) [Cape Verde](https://elucidate.co/directory/country/cv) [Central African Republic](https://elucidate.co/directory/country/cf) [Chad](https://elucidate.co/directory/country/td) [Comoros](https://elucidate.co/directory/country/km) [Congo - Brazzaville](https://elucidate.co/directory/country/cg) [Congo - Kinshasa](https://elucidate.co/directory/country/cd) [Côte d’Ivoire](https://elucidate.co/directory/country/ci) [Equatorial Guinea](https://elucidate.co/directory/country/gq) [Eritrea](https://elucidate.co/directory/country/er) [Eswatini](https://elucidate.co/directory/country/sz) [Ethiopia](https://elucidate.co/directory/country/et) [Gabon](https://elucidate.co/directory/country/ga) [Gambia](https://elucidate.co/directory/country/gm) [Ghana](https://elucidate.co/directory/country/gh) [Guinea](https://elucidate.co/directory/country/gn) [Guinea-Bissau](https://elucidate.co/directory/country/gw) [Kenya](https://elucidate.co/directory/country/ke) [Lesotho](https://elucidate.co/directory/country/ls) [Liberia](https://elucidate.co/directory/country/lr) [Malawi](https://elucidate.co/directory/country/mw) [Mali](https://elucidate.co/directory/country/ml) [Mauritania](https://elucidate.co/directory/country/mr) [Mauritius](https://elucidate.co/directory/country/mu) [Mayotte](https://elucidate.co/directory/country/yt) [Mozambique](https://elucidate.co/directory/country/mz) [Namibia](https://elucidate.co/directory/country/na) [Niger](https://elucidate.co/directory/country/ne) [Nigeria](https://elucidate.co/directory/country/ng) [Réunion](https://elucidate.co/directory/country/re) [Rwanda](https://elucidate.co/directory/country/rw) [São Tomé & Príncipe](https://elucidate.co/directory/country/st) [Senegal](https://elucidate.co/directory/country/sn) [Seychelles](https://elucidate.co/directory/country/sc) [Sierra Leone](https://elucidate.co/directory/country/sl) [Somalia](https://elucidate.co/directory/country/so) [South Africa](https://elucidate.co/directory/country/za) [South Sudan](https://elucidate.co/directory/country/ss) [St. Helena](https://elucidate.co/directory/country/sh) [Sudan](https://elucidate.co/directory/country/sd) [Tanzania](https://elucidate.co/directory/country/tz) [Togo](https://elucidate.co/directory/country/tg) [Uganda](https://elucidate.co/directory/country/ug) [Zambia](https://elucidate.co/directory/country/zm) [Zimbabwe](https://elucidate.co/directory/country/zw) Sources & method Each institution counts once, in one country: the BIC country when it holds a BIC, otherwise the country of the register that lists it. Licences in other countries are shown on its page. Sanctions listings are matched on the BIC and on the LEI mapped to it, so they cover institutions that hold a BIC only. Institutions without a BIC are not screened. Always screen against the official lists. [Read the methodology →](https://elucidate.co/directory/methodology) Sources for this page - **Swift ISO 9362 BIC directory**—institutions and branch codes, mapped to LEIs through the Swift and GLEIF BIC-to-LEI relationship file. As at 23 September 2026 - **FSB 2025 list of global systemically important banks** · [FSB ↗](https://www.fsb.org/2025/11/2025-list-of-global-systemically-important-banks-g-sibs/) published 27 November 2025 - **GLEIF relationship records (Level 2)**—accounting consolidation as reported to GLEIF · [about Level 2 data ↗](https://www.gleif.org/en/lei-data/access-and-use-lei-data/level-2-data-who-owns-whom) as at 25 September 2026 ## Assess the financial crime risk behind a counterparty A BIC or a licence identifies an entity; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks and payment firms. [Read about the FinCrime Index](https://elucidate.co/ratings). [Book a demo](https://elucidate.co/demo-request) Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.