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Groupe BPCE acquires a stake in the capital of Banque Centrale Populaire
This partnership, which perfectly coincides with the business development strategies pursued by both groups, focuses primarily on: cooperation in the migrant worker market, notably through the provision of financial products and services designed for Moroccans living in France; cooperation around the launch of banking products and services designed for customers conducting commercial banking business between France and Morocco; cooperation in the area of private banking and wealth management activities; the development of business relationships between Natixis and the network of Moroccan Banque Populaire banks; the pooling of technical platforms and collaboration regarding growth in Africa.
To cement this partnership, the governing bodies of Banque Centrale Populaire (BCP) and of Groupe BPCE approved the acquisition by BPCE Maroc, a subsidiary of BPCE International et Outre-mer, of a 5% stake in the capital of BCP.
This acquisition will be carried out through a capital increase reserved for Groupe BPCE on the basis of a valuation of 201 Moroccan dirhams per share, corresponding to the last two transactions on the capital of Banque Centrale Populaire.
Following the acquisition of this stake, Groupe BPCE will be given a seat on the Board of Directors of BCP.
Thanks to their close historical and cultural ties, the two groups aim to build on this strategic partnership to develop industrial and commercial synergies for the benefit of their respective retail banking networks.