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Using data collected from pan-African banks’ (PABs), balance sheets and other sources (Orbis, Fitch), this study identifies some key patterns of cross-border investment in bank subsidiaries by key banking groups in sub-Saharan Africa (SSA) and discusses some of the determinants of this investment. Using a gravity model relating the annual value of a banking group’s investment in the net equity of its subsidiaries to a set of explanatory variables, the analysis finds that cross-border banking is in part driven by a search for yield, diversification, and expansion for strategic reasons.

Banks and banking, International. --- International banking --- Offshore banking (Finance) --- Transnational banking --- Financial institutions, International --- International finance --- Banks and Banking --- Foreign Exchange --- Inflation --- Investments: Stocks --- Econometrics --- Current Account Adjustment --- Short-term Capital Movements --- International Monetary Arrangements and Institutions --- International Lending and Debt Problems --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Price Level --- Deflation --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Econometric Modeling: General --- Banking --- Currency --- Foreign exchange --- Macroeconomics --- Investment & securities --- Econometrics & economic statistics --- Exchange rates --- Cross-border banking --- Stocks --- Financial services --- Prices --- Financial institutions --- Gravity models --- Econometric analysis --- Banks and banking --- Econometric models --- South Africa