Verified List of Banks in Madagascar (2026 Update)

Madagascar is home to 10 verified banks currently tracked in our directory, headquartered in and around Antananarivo. Every entry below has been cross-checked against primary sources for 2026.

Foreign exchange reserves equal roughly 13.69% of GDP, indicating a limited external liquidity buffer relative to economic output. Average inflation is estimated at approximately 7.60%, a useful benchmark for currency and purchasing-power stability in the region. Madagascar holds 3.40 tonnes of gold reserves, a hard-asset buffer factored into its broader financial resilience profile. Madagascar's largest commercial bank is BNI bank.

Direct SWIFT/BIC connectivity across Madagascar's banking sector runs at approximately 100%, an 'Integrated' rating on our Financial Connectivity Index.