News and Press releases

25/09/2018

Groupe BPCE enters exclusive negotiations with the Moroccan banking group BCP, with a view to divesting banking interests in Africa

This proposed divestment of banking interests in Africa to the Moroccan banking group BCP is in line with Groupe BPCE’s strategy of refocusing on sectors and regions considered to be priorities for developing the Group’s business lines, and follows on from the divestment of Banque des Mascareignes to BCP announced back in February.

Groupe BPCE is entering exclusive negotiations with the Banque Centrale Populaire group, with a view to divesting equity interests held by BPCE International:

  • in Cameroon: 68.5% of Banque Internationale du Cameroun pour l’Épargne et le Crédit (BICEC);
  • in Madagascar: 71% of Banque Malgache de l’Océan Indien (BMOI);
  • in the Republic of the Congo: 100% of Banque Commerciale Internationale (BCI);
  • in Tunisia: 60% of Banque Tuniso-Koweitienne (BTK).

This project would give the banks concerned the backing of a financial and industrial partner possessing solid experience in the banking field, and capable of further developing their business in Africa.

The project will shortly be presented to BPCE International’s employee representative bodies by means of an information-consultation procedure. The proposed agreement will also be subject to the usual condition precedents for this type of transaction, and particularly to the approval of regulators in Morocco and in the various territories concerned.