(Ecofin Agency) - BMCI, a subsidiary of BNP Paribas, is planning to invest MAD90.2 million ($9.5 million) into its IT branch by 2020.
This is the largest investment the bank will realize during that period. Apart from the IT department, it has allocated MAD57.1 million for real estate investments and MAD2.8 million for other investments.
In 2017, the bank invested MAD71.5 million in its IT department and in its 2018-2020 investment programme, it indicates it will continue its services’ digitalization. During that period, it concentrated on redesigning its information system, setting an Islamic branch and digitalization.
Recently, it issued a debenture loan to raise MAD1 billion ($106 million). With this amount, it would focus on its long-term commitments and strengthening its shareholder equity.