Morocco-2008-BMCE-Bank

Proparco grants a €50M subordinated loan to BMCE Bank

In May 2008, Proparco allocated a €50M lower tier 2 subordinated loan to BMCE Bank which allowed it to reinforce its capital. The main aim was to allow BMCE to continue its international expansion, particularly in Africa.

BMCE Bank is Morocco’s second largest private bank and a long-standing partner of Proparco which has acquired a 2.5% stake in the bank.

For several years, BMCE has been developing an international expansion strategy by enhancing its coverage mechanism (London with Médicapital Bank, Paris, Tunis, Sub-Saharan Africa with BOA and Medicapital Bank). In Africa, its main objective is to create a Mediterranean-African banking group with international standing and linked up to Europe.