BICEC fuses with Moroccan bank group BCP

BUSINESS 08 Oct 2019
BICEC fuses with Moroccan bank group BCP

By NDUMBE BELL GASTON
BICEC customers all over the nation can now smile for the improved liquidity situation that has been created through the fusion of BICEC with Banque Centrale Populaire (BCP), after their 68,5% acquisition of BICEC.
The Moroccan banking Group finalised the issuance in collaboration with BPCE, a French banking group which before now, has been BICEC’s major partner.
The new bed fellows signed this partnership deed in an official ceremony that held at BICEC head office in Douala, last Tuesday October 1, in the presence of BCP’s group General Manager Kamal Mokdad, the chairman of the Board of Directors Jean-Baptiste Bokam and BICEC’s new General Manager Rochdi Sanhaji.

BICEC officials and BCP group General Manager clasp hands

BICEC officials and BCP group General Manager clasp hands

The strategic provisions of this take over, The SUN learnt, is expected to allow the Moroccan group (BCP) to introduce in Cameroon its ultra-modern methods that go with the pan-african bank by applying their characteristic solidarity and strong local roots as they extend the frontiers of their footprints in the CEMAC Zone.
The BCP Group General Manager declared, “By joining the BCP Group, BICEC will benefit from the best banking practices, innovations and expertise
fitted to the African Market, with the support of its new reference, shareholders, BCP and the Cameroonian state, BICEC is now entering a new phase of its development; placing his customers’ satisfaction and promotion of local skills at the heart of its priorities”.
It should be recalled that Group BCP is one of the leading banking institutions of the kingdom of Morocco and said to be the sixth largest banking institution in the continent in terms of equity and total assets. It is said to have been existing in West Africa under the “atlantic bank” brand while in Europe it operates under its “Chaabi Bank” subsidiary. Aside from operating in the North, West and Central Africa, BCP Group is exceptionally operating in the Indian Ocean island of Mauritius through its BCP subsidiary. It is the leading savings institution with a 27% market share in Morocco and a leader in financing the economy on 25% market share.

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