Banking

October 17, 2018

Morocco’s BCP bank seals acquisition of Mauritius unit of France's BPCE

RABAT, Oct 16 (Reuters) - Morocco’s Banque Centrale Populaire (BCP) said on Tuesday it had sealed the acquisition of Banque des Mascareignes in Mauritius from French cooperative lender BPCE group.

The acquisition"...

October 16, 2018

African Development Bank showcases investment opportunities in Africa to Nordic investors

The African Development Bank (www.AfDB.org) in a multidisciplinary team roadshows has presented financial products and investment opportunities to Nordic investors to leverage more access to financing. The roadshows brought together more than 50 private sector companies, investors and government"...

October 15, 2018

Morocco formally nominated host of IMF-World Bank 2021 annual meetings

RABAT, Oct. 14 (Xinhua) -- Morocco has been officially nominated as the host of the 2021 annual meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), Moroccan official MAP news agency reported on Sunday.

WBG"...

October 15, 2018

Morocco’s Abdellatif Jouahri Among the World’s Top Central Bankers

Rabat – US magazine Global Finance has once again commanded the efforts of the governor of Morocco’s Bank Al Maghrib,Abdellatif Jouahri.

On the sidelines of the annual meetings of the World Bank and"...

October 10, 2018

Banque Centrale Populaire Receives ‘Top Performers RSE 2018’ Trophy

Rabat – Banque Centrale Populaire (BCP) has received the “Top Performers RSE 2018” trophy for obtaining high scores in client services. The 5th Top Performers RSE was jointly organized by Vigeo Eiris agency and the Casablanca stock market in Casablanca on September 27. The trophy is granted to companies listed on the Casablanca Stock Exchange or issuers of bonds that have earned the highest scores in “information for clients,” “responsible orientation of contracts and respect of clients’ rights,”......

October 10, 2018

Morocco mulls global sukuk after debut local issue

Morocco is weighing an international sukuk after kicking off a long-awaited maiden domestic sale on Friday that may act as a benchmark for more local issuance.
The 1bn-dirham ($106mn) Ijara domestic issue will be sold by the finance and economy ministry’s treasury and external"...

October 10, 2018

QNB Group: Financial Results for the Nine Months Ended 30 September 2018

QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the nine months ended 30 September 2018. For the nine months ended 30 September 2018, Net Profit reached QAR10.8 billion (USD3.0 billion), up by 6% compared to same period last year, despite the impact of the Turkish Lira devaluation. Total assets increased to QAR853 billion (USD234 billion), up by 8% from September 2017.The key driver of total assets growth was from loans and advances which grew by 4% to reach QAR604 billion......

October 9, 2018

Morocco’s Net International Reserves Up 0.5%

Rabat – Morocco’s net international reserves amounted to 224.6 billion dirhams until September 28, 2018, recording a 0.5% year-on-year increase, Morocco’s central bank (Bank Al-Maghrib) said.

During"...

October 8, 2018

Morocco’s BMCE Bank of Africa Certified as Top Employer 2019

Casablanca – BMCE Bank Africa received, Thursday in Johannesburg, the certification Top Employer 2018 by Top Employers Institute, a global organization dedicated to enriching the world of work, and connecting Top Employers throughout the world.

During"...

October 7, 2018

Morocco’s CFG Bank expects to return to profit in 2021

(Reuters) - Moroccan lender CFG Bank expects to return to profit in 2021 after four years of losses as it sought to develop retail banking operations, its CEO said on Friday.

CFG is an investment bank offering"...