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BNP Paribas increases by 10% its majority stake in Moroccan Bank capital
Morocco, Business, 2/14/2004
BNP Paribas announced it has purchased 10% more of the shares of Moroccan bank "BMCI" (Banque Marocaine pour le Commerce et l'Industrie) through a block trade on Casablanca Stock Exchange.
The acquisition, that brings BNP Paribas' share in BMCI's capital to 63.15%, is in line with BNP Paribas' strategy and will strengthen its presence in Morocco, says Paribas which did not give any indication on the operation price.
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