Moroccan bank opens branch in Barcelona

The Moroccan bank "Banque Marocaine du Commerce Exterieur" (BMCE-Bank International) has opened a new branch in Barcelona.

The BMCE new agency was dedicated Monday evening in the presence of Catalunia authorities, representatives of the economic sector and civil society activists.

The move to open such a branch in Barcelona was dictated by the important volume of trade exchanges between Morocco and the Spanish north-eastern region of Catalunia and by the presence in this region of a large Moroccan community.

One of the main goals targeted is to inform local enterprises on investment opportunities in Morocco, especially in the sectors of agri-business, textile and tourism, BMCE CEO, Othmane Benjelloun, told reporters.

He said a large part of the Spanish enterprises operating in Morocco are Catalunia-based.

The bank will promote a commercial policy and develop an ambitious savings program destined to the 120,000 Moroccan nationals settled in Spain.

BMCE-Bank International, which started operating in Spain in 1993, contributes to the promotion of trade exchanges between Morocco and Spain and helps attract Spanish investments to Morocco. It projects to open new branches in Seville and Valencia.

Other Moroccan banks, such as the Banque Populaire group, the Banque Commerciale du Maroc and Wafa Bank, have also branches in Spain.