Moroccan Banque Centrale Populaire could soon welcome a new shareholder
Thursday, 22 October 2020 13:55
Morocco’s Banque Centrale Populaire said it is mulling over selling a stake to an East Asian banking institution to strengthen its capital. The information was relayed by Bloomberg, which cited a source close to the matter.
The partnership project, which is subject to shareholders’ approval, is part of the Moroccan bank’s strategic development plan for the next five years. BCP said once shareholders give their green light, it will engage in talks with banks from China or Singapore in 2021.
Under this operation, BCP is seeking new growth opportunities to mitigate a decline in activity over the first six months this year. The institution’s consolidated net profit slid by 48% to MAD1.3 billion in H1 2020 while the net income group share fell by 38% to MAD1.01 billion.
BCP’s new 5-year development program is seen as a preparation for the post-Covid-19 period.
Chamberline Moko
Live News
-
Mauritania’s El Amana Bank Gets New IFC Support to Grow SME Lending
12:50
-
S&P Raises Zambia’s Foreign-Currency Rating to CCC+
12:47
-
G20: Pretoria Defies Trump After U.S. Rejects Joint Declaration
12:45
-
Cameroon Secures One-Quarter of All Admissions in 22nd CAMES Aggregation Competition
12:41
-
G20 Leaders Approve Declaration on Conflicts, Climate and Debt
12:37
-
Cameroon Posts Trade Surpluses with Netherlands, Malaysia and Indonesia on Cocoa Exports
12:32
-
Ten Student Teams Advance in Togo’s “Student Tech Pulse” Innovation Program
08:12
-
BDEAC Courts Investors for $3.6B Congo Basin Blue Fund at COP30
07:43
-
Certified in Data Analytics, Thierno Sow Moves From Developer to Programmer Analyst
06:39
-
At 17, Self-Taught Programmer Okechukwu Nwaozor Launches His Own AI Models
06:17
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...
Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...
China says Premier Li Qiang will attend instead of President Xi Jinping The U.S. and Russia also ...
The U.S. boycotts the Johannesburg G20 Summit, accusing South Africa of persecuting its white minority. South Africa leads the adoption of a joint...
G20 heads of state adopted a 30-page declaration focusing on conflicts, climate impacts and debt vulnerabilities. The declaration was adopted in South...
The African Union and European Union meet in Angola to redefine their 25-year partnership around co-investment rather than aid, according to the...
Senegal’s statistical agency reported that 34.4% of youth aged 15–24 were Not in Employment, Education or Training (NEET) in Q1 2024. Young...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...