ib West Africa has been awarded Best Commercial Bank 2025 by World Finance, a leading voice in global financial journalism. The recognition reflects the bank’s consistent performance, deep client relationships, and strong contribution to West Africa’s commercial banking landscape.

Over the past year, iib West Africa has focused on enabling trade, supporting SMEs, and expanding access to financial services across key sectors. Its tailored approach to client needs, paired with digital efficiency, has positioned the bank as a reliable partner in a rapidly evolving market.

“This award is a testament to the strength of our regional strategy and the trust we’ve built with our clients,” said Sohail Sultan, Group CEO of iib. “We are committed to building a commercial banking model that accelerates inclusive growth and delivers value beyond numbers. This award belongs to our clients and our teams who deliver with purpose every day.”

iib West Africa has strengthened its support for cross-border trade, agriculture, and infrastructure projects, while continuing to simplify banking for everyday entrepreneurs. Its performance reflects the bank’s vision to become the partner of choice for businesses seeking stability and growth.

“At iib West Africa, we see banking as an engine for opportunity,” said Joseph Carasso Junior, Regional CEO – West Africa. “Our focus is on making finance more accessible, more impactful, and more relevant to the challenges and ambitions of our clients across the region.”

The World Finance Banking Awards celebrate institutions that demonstrate innovation, performance, and impact. iib West Africa’s win reflects the bank’s ongoing commitment to progress and excellence across the region.

About World Finance

World Finance is a leading bi-monthly financial publication that has been operating since 2007, offering in-depth coverage and analysis of the financial industry, international business, and global economic trends. With a focus on innovation, leadership, and market intelligence, its annual awards recognize excellence across banking, finance, and corporate governance worldwide.

International Investment Bank (iib) is pleased to announce that it has officially changed its name to Intercontinental Investment Bank, effective immediately. The decision reflects the bank’s commitment to clarity, operational transparency, and continued trust with global partners.

This strategic name change comes in response to persistent confusion caused by the existence of another financial institution bearing a similar name, currently under international sanctions. While iib has no affiliation or association with the sanctioned entity, the overlap in naming has, at times, led to misidentification and operational complications, especially amidst heightened global regulatory oversight.

The name change has been implemented in iib East Africa (Djibouti), iib West Africa (Cape Verde) and iib Caribbean (The Bahamas).

“This is a proactive measure to safeguard our brand identity and ensure seamless interactions with our clients, partners, and regulators across jurisdictions,” said Sohail Sultan, CEO of Intercontinental Investment Bank. “Our operations, leadership, legal entity, and regulatory standing remain exactly the same. The only change is our name.”

The new name, Intercontinental Investment Bank, more accurately reflects the institution’s expansive global footprint and commitment to cross-border partnerships across Europe, the Middle East, Africa, South Asia and beyond, while retaining the familiar acronym, iib.

Correspondent Banks, Institutional Partners, and Regulators have or are in the process of receiving updated documentation to reflect the name change. Our retail customers and vendors may be assured that all existing services, accounts, and points of contact remain unchanged and the banks are committed to ensuring a smooth and disruption-free transition for all stakeholders.

For further information or documentation related to this change, stakeholders are encouraged to contact their usual relationship managers or contacts.

We thank you for your continued trust and partnership.

For further information, please contact:
Farah Sayeed
Director, Brands & Marcom
Intercontinental Investment Bank
farah.sayeed@iibanks.com

Lisbon, May 15 th , 2025 – iibGroup has partnered with the Chevening Scholarships, the UK program that guarantees scholarships for postgraduate studies in that country, with the award of a scholarship in both Cape Verde and Djibouti.

The partnership with Cape Verde was formalized this Thursday, May 15, in Lisbon, with the signing of the protocol between the UK Ambassador to Portugal and Cape Verde, Lisa Bandari, and Joseph Carasso, CEO iib West Africa. The ceremony was also attended by the CEO of iib West Africa, Joseph Carasso, Duarte Maria de Sousa Araujo Martins accompanied by his wife, Dona Maria Francisca, Duchess of Coimbra, and other guests.

Speaking at the occasion, Sohail Sultan, Chairman iibGroup, said, ‘At iib, we believe that education is one of the most powerful tools for the development of societies. Partnering with the Chevening Scholarship allows us to invest in the next generation of leaders who will not only uplift Cabo Verde but also strengthen global ties through knowledge and collaboration. We are honoured to formalize this commitment today, in partnership with the British government, and look forward to the impact this initiative will have.”

Also at the ceremony, Lisa Bandari, stated, ‘“Chevening is more than a scholarship – it is a life-changing experience, which opens doors to world-class universities, cultural diversity, and a network of 60,000 alumni worldwide. We are delighted to welcome iibGroup as a partner in this important initiative. Their commitment to supporting talent in Cape Verde reflects a shared belief that education is a driving force for global progress.”

Chevening is the UK government’s scholarship program, through which scholarships are awarded to people with a solid academic background who demonstrate leadership potential. It offers financial support to study at a UK university and the opportunity to join an influential global network of over 50,000 alumni in more than 160 countries and territories.

In addition to financial support, iibGroup will mentor and promote the selected students, integrating them into the Group’s various initiatives. iibGroup continues to strengthen its role as a catalyst for progress, reaffirming its commitment to empowering the next generation of leaders and promoting innovation for a more sustainable future. Applications for the Chevening scholarship for Cape Verde are currently being considered.

Global Finance has named the Top Financial Innovations across seven regions as part of the Innovators Awards for 2025.This is Global Finance’s twelfth annual awards program recognizing entities that regularly identify new paths and design new tools in finance. All selections were made by the editorial board of Global Finance with the input of reporters who are experts on the functions being served by these innovators. Entries were required for consideration.

About Global Finance

Founded in 1987, Global Finance is a trusted source of financial news, analysis, and rankings, serving senior corporate and financial decision-makers in 188 countries. Its awards programs recognize excellence in banking and finance worldwide.

Read the Global Finance Press Release

“This recognition fuels our determination to redefine banking standards both in the region and globally.”

Sohail Sultan – CEO

Joseph Carasso has been the CEO of iibCV since July 2024. He has extensive management experience in the banking sector, having spent most of his career working at Citibank subsidiaries in Brazil and in African countries such as South Africa (where he was responsible for 30 countries and the Financial Institutions business), Uganda, Ghana, and, more recently, Tanzania, where he led the subsidiary between 2013 and 2019. He also worked in Central Asia, heading Afghanistan International Bank (2019-2024), where he positioned the bank as a key player in humanitarian actions. The first interview since taking office in Cape Verde, exclusively, to Expresso das Ilhas.

What plans do you have for iibCV in the short/medium term?

The iib has been in Cape Verde for seven years and has focused on making Cape Verde a West African business hub and developing innovative ways to finance the local economy, with new opportunities for investment and growth.

We have a highly qualified team, which has been the driving force behind our success. Their value and excellence are recognized by clients and other stakeholders who trust us with their investments.

iib Cabo Verde is a unique bank with an extraordinary strategic vision. This is what we want to continue to translate into the national economy, especially in our area of expertise: the capital markets. In the medium term, we will continue to position ourselves as a true partner for companies and entrepreneurs in supporting projects with an impact on the community.

Given our strong international focus, we want to continue supporting the internationalization of the economy, but also the Cape Verdean diaspora, with products suited to their savings and investment needs.

I would say that iibCV is in Cape Verde with a clear mission: to contribute to the development and improvement of the quality of life of society, our people and their families, and to drive sustainable growth based on rigorous principles of governance and social responsibility. And this is exactly the mission we want to continue to fulfil in the future.

Where would you like to see the bank in the next 5 years?

I am certain that we will continue on our path of affirmation, opening the country’s doors to the world and making Cape Verde a business hub – both with other African countries and with Europe and America.

We know that the national banking sector is small and has several players, each with their own advantages. I believe that our global nature sets us apart and will allow us to continue to attract investment, add value to the Cape Verdean economy, while supporting the cross-border expansion of businesses with local roots. I would therefore say that I would like iibCV to continue to be involved in the realization of projects and dreams, both personal and business.

We will continue to focus on the excellent service that has brought us to this point and which has led to the bank being considered a “Great Place to Work” for four consecutive years, a recognition of our excellence as a company to work for. I hope this continues to be the case and we will work towards this goal.

Social responsibility is and will continue to be a priority. Over the past few years, we have created different opportunities to support communities, promoting financial literacy and investment in social projects. Initiatives such as Blue Bonds, which finance structural projects linked to the blue economy, Social Bonds, which supported SOS Children’s Villages Cabo Verde, and Green Bonds, which sponsored the implementation of the energy transition project at the Agostinho Neto University Hospital, the largest hospital in the country, will continue to be on our radar, as well as others to support health and, in particular, the education of our young people.

Read the full interview

A streak of successes: iib celebrates being recognized as a Great Place To Work® in Cape Verde for the fourth year running! A special thank you to our amazing team for making this possible and for promoting positive change everyday.

Following a survey conducted among colleagues, iib ranked exceptionally high across all parameters, including workplace culture, collaboration, open-door policy, teamwork, and camaraderie. iib congratulates the entire team on achieving this tremendous milestone.

High Level Results

“Achieving Great Place to Work recognition is a testament to the incredible spirit of our iib Cabo Verde family. This milestone belongs to each of you – thank you for making iib Cabo Verde extraordinary. Let’s continue building greatness together!”

Joseph Carasso Junior, CEO – iib West Africa

Great Place To Work ® is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, Great Place To Work ® recognises the Best Workplaces™ across the world in a series of national lists including those published by Fortune magazine (USA) and in leading media across the Middle East. Great Place To Work ® provides the benchmarks, framework, and expertise needed to create, sustain, and recognise outstanding workplace cultures.

Visit iib on GPTW

Financial literacy is a universal key to unlocking the doors of success for individuals and entrepreneurs alike. It’s a vital skill that empowers people to make informed financial decisions and shape their economic destinies. In today’s fast-paced and ever-changing financial landscape, being financially literate is not just an option; it’s necessary for anyone looking to embark on an entrepreneurial journey. In this article, we will explore the transformative power of financial literacy and how it can take you from debt to wealth on your entrepreneurial path, by addressing the example of the International Investment Bank Cabo Verde (iibCV).

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The international investment bank, S.A. (iibCV) is proud to announce its support for the Eugénio Tavares Elementary School, in Achada Santo António, through a donation of computer equipment, which allowed the creation of a multimedia space.

This initiative resulted from a request for support from the Directorate of Group III of the Ministry of Education, with the aim of rehabilitating the ICT component of the school library, enabling 5th and 6th grade students to consolidate their knowledge through research, work and practical activities.

This project, in line with our sustainability and social responsibility policy, aims to promote digital inclusion and develop technological skills from primary school onwards.

We are convinced that, by providing an enabling and innovative environment, we are opening doors to learning experiences that will make a difference.

At iibCV, we believe that investing in digital inclusion is investing in building a fairer and more egalitarian society.

iibCV Makes It Different, to Make a Difference!

The international investment bank S.A. (iibCV) has once again joined the Blood Bank of the Agostinho Neto University Hospital (HUAN) for the 6th Edition of our Blood Donation Campaign!

We are deeply grateful to our collaborators, the HUAN team and, of course, all the donors who have joined us in this noble mission. Your contribution makes a difference and helps save lives.

Banco Sangue HUAN
iibCV Make a Difference to Make a Difference!

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