BNP Paribas increases by 10% its majority stake in Moroccan Bank capital

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.