(Ecofin Agency) - Moroccan banking group Banque Centrale Populaire (BCP) announced, in a press note released on 9th September, having made a net profit of 1.2 billion dirhams (USD 123 million) during the first half of 2015, an increase of 9.3% compared to the same period in 2014, despite an increase in allowances for doubtful accounts.

The bank, which faced a soaring of doubtful accounts on its domestic market following the economic slowdown, like other Moroccan credit companies, is in full expansion in Africa thanks in particular to its subsidiary Atlantic Bank International (ABI), which has branches in about 10 African countries.

In August, BCP became the majority shareholder in Banque Internationale pour l'Afrique in Niger (BIA-Niger) with an initial investment of over 22 million Euros.

The group listed on the Casablanca stock market saw an increase in net profit of 12.5% in 2014, at 2.2 billion Moroccan dirhams (USD 224.9 million).