Casablanca – Banque Centrale Populaire (BCP) recently showcased a robust financial strategy and expansion efforts with significant developments. Last week, BCP announced the successful completion of a substantial subordinated bond issuance totaling $103 million. This issuance includes 10,000 bonds with a 10-year maturity, each valued at $10,309. The purpose of this issuance is to strengthen BCP’s financial base and support its strategic initiatives in the evolving economic landscape.

The bonds feature an annually adjustable nominal interest rate, initially set at 3.17%. This rate is based on the 52-week full rate derived from the Treasury bond market yield curve as of June 14, 2024. Including a 40 basis points risk premium, the effective rate for the first year is 3.57%. Repayment terms include a linear amortization schedule with a 5-year deferment. Starting from the 6th year, there will be a 20% annual amortization, beginning from the enjoyment date set for June 25, 2024.

BCP, part of Groupe Banque Populaire (GBP), continues to expand its influence and reach in the Moroccan financial sector. Established in 1961, BCP became a public company in 2000 and listed on the Casablanca Stock Exchange in 2004. Under the leadership of CEO Mohamed Karim Mounir since November 2018, the group has significantly expanded its footprint across Africa and globally.

A notable achievement includes BCP’s issuance of pioneering Euro-denominated Green Bonds in 2017, underscoring its commitment to sustainable finance. Moreover, amidst global challenges such as the COVID-19 pandemic, BCP has actively contributed to relief efforts, demonstrating its dedication to both financial growth and social responsibility.

These developments highlight BCP’s strategic resilience and proactive approach in navigating economic landscapes. They reinforce its position as a key player in Moroccan finance and underscore its potential for continued growth and impact in the global financial sphere.