Morocco’s Banque Centrale Populaire acquires Congo’s BCI bank

Banque Centrale Populaire (BCP), one of Morocco’s biggest banks, announced, Friday, that it acquired a 100% stake in Banque Commerciale Internationale (BCI) in the Republic of Congo from Groupe BPCE, a French banking group, Reuters reports.

The new acquisition will help the bank «boost its presence in central Africa», said BCP in a statement relayed by the British news agency.

Prior to this deal the Moroccan bank, which has subsidiaries in 30 countries around the world, bought a 68.5% stake in Cameroon’s Banque Internationale du Cameroun pour l’Espargne et le Crédit from the same French bank.