The People's Central Bank (BCP) plans to sell a significant portion of its capital to financial institutions based in Southeast Asia, Bloomberg reports on October 21, 2020. The institution will present this decision to shareholders for approval, according to the same source.

This operation is part of the strengthening of the equity capital of the second largest Moroccan bank, but also aims to seize growth opportunities. This sale, which could result in an injection of liquidity, is in fact the linchpin of a five-year strategy for BCP starting in 2021

Commenting on this “future sale”, sources cited by Bloomberg said that “it will be a strategic partnership (...) that would put BCP on a new growth path.” They also said that the bank would begin talks with Chinese and Singaporean banks as early as next year

This sale of participation comes in a context where BCP has already launched its major offensive in sub-Saharan Africa, in particular with the acquisition of subsidiaries in Mauritius, Cameroon and Côte d'Ivoire

Note that BCP officials did not comment on this transaction.