The Moroccan banking group; Banque Centrale Populaire (BCP) officially finalized, on October 1st, 2019, the acquisition of 68.5% of the assets of the Cameroon International Bank for Savings and Credit (BICEC), previously a subsidiary of the French banking group BPCE (Banque Populaire and Caisse d’Epargne).
The details of the transaction have not been revealed, but “all regulatory approvals” have been made.
An official ceremony was organized for this purpose at the headquarters of BICEC in Douala-Bonanjo, in the presence of Kamal Mokdad; Director General of BCP, Jean-Baptiste Bokam; President of the Council of BICEC, and Rochdi Sanhaji; the new managing director of BICEC.
BCP had shown interest in acquiring shares in BICEC since September 2018.
