The People's Central Bank (PCO) plans to sell a significant portion of its capital to financial institutions based in Southeast Asia, Bloomberg reports on October 21, 2020. The institution will present this decision to shareholders for approval, according to the same source.

This operation is part of the strengthening of the equity of the second largest Moroccan bank, but also aims to seize growth opportunities. This sale, which could result in a cash injection, is indeed the linchpin of BCP's five-year strategy from 2021.

Commenting on this "future divestment", sources quoted by Bloomberg said that "it will be a strategic partnership (...) that would put BCP on a new path of growth". They also said the bank would start talks next year with Chinese and Singaporean banks.

 
This sale of stake comes at a time when BCP has already launched its major offensive in sub-Saharan Africa, notably with the acquisition of subsidiaries in Mauritius, Cameroon  and Côte d'Ivoire.

It should be noted that PCO officials did not comment on this transaction.