BCP Group
 | |
| Industry | Finance |
|---|---|
| Founded | 2 February 1961 |
| Headquarters | Casablanca, Morocco |
| Products | Financial services |
| Revenue |  DH 20,1 billion (2021) [1] |
| DH 2,7 billion (2021) [2] | |
| Total assets | DH 465 billion (2021) [3] |
| Website | www |
BCP Group, also referred to as Crédit Populaire du Maroc (lit. 'People's credit [bank] of Morocco') and popularly known under the brand Banque Populaire or Chaabi, is a major financial services group in Morocco, headquartered in Casablanca. The acronym BCP stands for the group's central entity, the Banque Centrale Populaire which also operates retail services in the region of Casablanca and El Jadida. The group also comprises eight regional entities known as Banques Populaires Régionales: these are, respectively, Centre-Sud (covering the Souss-Massa region), Fez-Meknes, Laayoune, Marrakesh-Beni Mellal, Nador-Al Hoceima, Oujda, Rabat-Kenitra, and Tangier-Tétouan.[4]
As of 2024, BCP Group was Morocco's second-largest banking group, behind market leader Attijariwafa Bank and ahead of Bank of Africa.[5] It has had the largest deposit base in the country for many years.
Overview
[edit]The starting point of BCP Group is a Royal Decree or dahir promulgated by the authorities of the French protectorate in Morocco on 25 May 1926 authorizing the formation of cooperative banks in the territory, inspired by the French legislation of 1917 that organized what later became France's Groupe Banque Populaire. A number of such local banks were founded between 1931 and 1952 but faced serious management challenges. On 2 February 1961, a new decree of the newly independent monarchy reorganized the network and established the BCP, a government agency, as its central entity. The group’s deposit base expanded rapidly in the following decade,[6] and by 1974 it was the largest bank in Morocco by volume of deposits.
In 1972, BCP established its European subsidiary in Paris, branded Chaabi Bank.[7] In 1981, it established subsidiaries in the Central African Republic and Guinea.[8]
The BCP was reorganized as a joint-stock company in 2000, and partly privatized in 2004 by listing on the Casablanca Stock Exchange.[6] In 2010, the BCP absorbed the regional bank based in Casablanca, and in 2016 that in El Jadida. In May 2012, Paris-based Groupe BPCE became a minority shareholder with a 5 percent equity stake.[8]
As of 2012, the bank's market share of customer deposits in Morocco was 27.9 percent.[9] This translated to customer deposits of 204.9 billion dirhams (1H2013). The number of employees in the bank at the end of 2012 was 11,878.
By 2014, the Moroccan state sold its residual ownership stake in BCP to the group's regional banks.[8] In 2015 a restructuring raised the equity ownership of the BCP in the regional banks to majority stakes of 52 percent, the rest remaining owned by the cooperative clients.[10] This has made the BCP increasingly resemble a commercial banking group as opposed to cooperative banking. The regional banks, in turn, collectively own a majority of shares in BCP.
As of 2022, the bank maintained overseas offices in Germany, England, Canada, Spain, France, Gibraltar, Netherlands and Belgium.[11]
For 2023, net banking income grew by 10.6 per cent to AED 22.9 billion. Consolidated deposits totalled AED 372 billion and consolidated loans stood at AED 319.4 billion.[12]
In March 2023, BCP entered into a long-term partnership with Mastercard to improve services in terms of digital solutions and payments.[13]
See also
[edit]References
[edit]- ^ https://www.groupebcp.com/fr/GBP_Finances/Rapport_Financier_2021.pdf [bare URL PDF]
- ^ https://www.groupebcp.com/fr/GBP_Finances/Rapport_Financier_2021.pdf [bare URL PDF]
- ^ https://www.groupebcp.com/fr/GBP_Finances/Rapport_Financier_2021.pdf [bare URL PDF]
- ^ "Les Banques Populaires Régionales". Groupe BCP.
- ^ Adil Faouzi (14 April 2024). "Morocco's Banking Sector Shines in Forbes' 2024 List of MENA's 30 Most Valuable Banks". Morocco World News.
- ^ a b "Banque populaire : 46 ans d'existence,2,4 millions de clients". La Vie Éco. 15 June 2007.
- ^ "Banque Chaabi du Maroc (BCDM)". L'Annuaire des entreprises.
- ^ a b c "About Us". BCP Group.
- ^ "Chiffres Clés". www.gbp.ma. Retrieved 2017-08-24.
- ^ Pauline Chambot (31 July 2015). "La Banque populaire contrôle désormais les banques populaires régionales". telquel.ma.
- ^ "Banque Populaire". www.bp.co.ma. Archived from the original on 12 March 2007. Retrieved 12 January 2022.
- ^ "BSP: PNB en progression de 10,6% en 2023". Boursenews. Archived from the original on 2024-03-29. Retrieved 2024-03-29.
- ^ "Mastercard et Banque Centrale Populaire consolident leur partenariat stratégique". Mastercard (in French). Archived from the original on 2024-03-29. Retrieved 2024-03-29.
External links
[edit]- Groupe Banque Populaire (in French)
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