AfDB Awards Moroccan Bank, Reports Mail & Guardian Africa
In an article looking at where to invest in Africa, Mail and Guardian Africa writes:
In June this year continental development lender African Development Bank (AfDB) awarded the prize for “Best African Bank” to Groupe Banque Populaire, Morocco. Beating stiff competition the group shows aggressive planning and strategy, hungry for expansion, but with limited risks.
GBP Morocco demonstrated pragmatism when acquiring two market leaders in leasing services (Maroc Leasing and Vivalis Salaf) by diluting its risks. At the same time, the group maintains impressive reinforcement of its existing capacity, opening on average nearly 100 new locations each year.
The aim to cater for the large Moroccan population living abroad has always been the banks’ stronghold. With the use of its affiliates in Europe – Chaabi Bank in Spain and the Netherlands as well as other members in Ivory Coast, Central African Republic and Guinea – Groupe Banque Populaire stays well fed with deposits and keeps servicing new loans. [full story]